Piper Sandler Increases Change Healthcare (NASDAQ:CHNG) Price Target to $25.75


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Change Healthcare (NASDAQ:CHNG) had its target price upped by Piper Sandler from $23.00 to $25.75 in a research report released on Wednesday morning, The Fly reports. Piper Sandler currently has an overweight rating on the stock. Piper Sandler also issued estimates for Change Healthcare’s Q3 2021 earnings at $0.26 EPS, Q4 2021 earnings at $0.34 EPS, FY2021 earnings at $1.11 EPS, Q1 2022 earnings at $0.32 EPS, Q2 2022 earnings at $0.32 EPS, Q3 2022 earnings at $0.37 EPS, Q4 2022 earnings at $0.44 EPS and FY2022 earnings at $1.46 EPS.

Several other brokerages have also issued reports on CHNG. Citigroup lifted their price target on Change Healthcare from $16.00 to $18.00 and gave the company a buy rating in a research note on Monday, September 14th. Berenberg Bank started coverage on Change Healthcare in a research note on Tuesday, December 8th. They issued a buy rating and a $23.00 price target on the stock. William Blair lowered Change Healthcare from an outperform rating to a market perform rating in a research note on Wednesday. BidaskClub downgraded Change Healthcare from a strong-buy rating to a buy rating in a report on Thursday, December 31st. Finally, Smith Barney Citigroup raised their price objective on Change Healthcare from $19.00 to $22.00 in a report on Wednesday, November 25th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $20.93.

Change Healthcare stock opened at $24.14 on Wednesday. Change Healthcare has a one year low of $6.18 and a one year high of $24.21. The stock’s fifty day moving average price is $18.19 and its two-hundred day moving average price is $14.63. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a market cap of $7.35 billion, a PE ratio of -43.89, a price-to-earnings-growth ratio of 8.11 and a beta of 1.71.

Change Healthcare (NASDAQ:CHNG) last issued its quarterly earnings results on Monday, November 9th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.07. Change Healthcare had a positive return on equity of 13.43% and a negative net margin of 5.76%. The company had revenue of $755.94 million for the quarter, compared to analyst estimates of $745.02 million. During the same quarter last year, the company posted $0.27 EPS. The company’s revenue for the quarter was down 5.0% compared to the same quarter last year. Sell-side analysts expect that Change Healthcare will post 1.12 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in CHNG. Blackstone Group Inc acquired a new position in Change Healthcare during the 3rd quarter worth about $865,090,000. Boston Partners acquired a new position in Change Healthcare during the 3rd quarter worth about $217,955,000. Camber Capital Management LP bought a new position in shares of Change Healthcare in the 3rd quarter worth about $217,650,000. BlackRock Inc. bought a new position in shares of Change Healthcare in the 3rd quarter worth about $155,691,000. Finally, Cardinal Capital Management LLC CT bought a new position in shares of Change Healthcare in the 3rd quarter worth about $78,989,000.

About Change Healthcare

Change Healthcare Inc, an independent healthcare technology platform, provides data and analytics-driven solutions to enhance clinical, financial, administrative, and patient engagement outcomes in the United States healthcare system. It operates through three segments: Software and Analytics, Network Solutions, and Technology-Enabled Services.

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