Change Healthcare Inc. (NASDAQ:CHNG) Receives $21.35 Average Target Price from Analysts


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Shares of Change Healthcare Inc. (NASDAQ:CHNG) have received a consensus recommendation of “Hold” from the twenty-four analysts that are covering the company, Marketbeat.com reports. Fifteen investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $21.35.

A number of equities analysts recently issued reports on CHNG shares. Guggenheim cut Change Healthcare from a “buy” rating to a “neutral” rating in a report on Wednesday, January 6th. Raymond James cut Change Healthcare from a “strong-buy” rating to a “market perform” rating in a report on Wednesday, January 6th. Zacks Investment Research upgraded Change Healthcare from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a report on Tuesday, November 24th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell cut Change Healthcare from a “buy” rating to a “neutral” rating in a report on Thursday, January 7th. Finally, William Blair cut Change Healthcare from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 6th.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC purchased a new stake in shares of Change Healthcare during the 3rd quarter worth $38,000. Harvest Fund Management Co. Ltd acquired a new position in Change Healthcare during the 3rd quarter valued at about $48,000. FIL Ltd increased its position in Change Healthcare by 394.2% during the 4th quarter. FIL Ltd now owns 2,535 shares of the company’s stock valued at $48,000 after buying an additional 2,022 shares in the last quarter. Clean Yield Group acquired a new position in Change Healthcare during the 4th quarter valued at about $54,000. Finally, First Horizon Advisors Inc. acquired a new position in Change Healthcare during the 3rd quarter valued at about $61,000.

CHNG traded up $0.19 during trading hours on Tuesday, reaching $23.23. 138,625 shares of the company’s stock traded hands, compared to its average volume of 7,590,027. The firm has a 50-day moving average price of $23.63 and a 200 day moving average price of $17.54. Change Healthcare has a 52-week low of $6.18 and a 52-week high of $24.21. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $7.08 billion, a PE ratio of -41.89, a PEG ratio of 10.67 and a beta of 1.71.

Change Healthcare (NASDAQ:CHNG) last posted its quarterly earnings data on Tuesday, February 2nd. The company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.03. Change Healthcare had a positive return on equity of 13.43% and a negative net margin of 5.76%. The company had revenue of $785.14 million during the quarter, compared to analysts’ expectations of $788.96 million. During the same quarter in the previous year, the business earned $0.33 EPS. Change Healthcare’s revenue was down 2.9% compared to the same quarter last year. Equities analysts predict that Change Healthcare will post 1.12 EPS for the current fiscal year.

Change Healthcare Company Profile

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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