William Blair Lowers Change Healthcare (NASDAQ:CHNG) to Market Perform


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William Blair cut shares of Change Healthcare (NASDAQ:CHNG) from an outperform rating to a market perform rating in a report issued on Wednesday morning, The Fly reports.

Several other equities analysts also recently issued reports on CHNG. Citigroup boosted their price target on shares of Change Healthcare from $16.00 to $18.00 and gave the company a buy rating in a report on Monday, September 14th. Berenberg Bank initiated coverage on shares of Change Healthcare in a report on Tuesday, December 8th. They set a buy rating and a $23.00 price target for the company. CSFB boosted their price target on shares of Change Healthcare from $16.00 to $19.00 and gave the company an outperform rating in a report on Monday, September 28th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Change Healthcare from $16.00 to $18.00 and gave the company a buy rating in a report on Monday, November 9th. Finally, Cantor Fitzgerald boosted their price target on shares of Change Healthcare from $17.00 to $18.00 and gave the company an overweight rating in a report on Thursday, November 5th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $20.93.

Change Healthcare stock opened at $24.14 on Wednesday. The company has a market cap of $7.35 billion, a PE ratio of -43.89, a P/E/G ratio of 8.11 and a beta of 1.71. The company has a fifty day moving average price of $18.19 and a two-hundred day moving average price of $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. Change Healthcare has a 12 month low of $6.18 and a 12 month high of $24.21.

Change Healthcare (NASDAQ:CHNG) last released its quarterly earnings data on Monday, November 9th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.07. The firm had revenue of $755.94 million during the quarter, compared to the consensus estimate of $745.02 million. Change Healthcare had a negative net margin of 5.76% and a positive return on equity of 13.43%. The firm’s revenue was down 5.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.27 earnings per share. Equities research analysts anticipate that Change Healthcare will post 1.12 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of CHNG. Blackstone Group Inc bought a new stake in Change Healthcare in the third quarter worth about $865,090,000. Boston Partners bought a new stake in shares of Change Healthcare during the third quarter worth $217,955,000. Camber Capital Management LP bought a new stake in shares of Change Healthcare during the third quarter worth $217,650,000. BlackRock Inc. acquired a new position in shares of Change Healthcare during the third quarter valued at $155,691,000. Finally, Cardinal Capital Management LLC CT acquired a new position in shares of Change Healthcare during the third quarter valued at $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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Analyst Recommendations for Change Healthcare (NASDAQ:CHNG)

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