Natixis Reduces Stake in Change Healthcare Inc. (NASDAQ:CHNG)

Natixis lessened its holdings in Change Healthcare Inc. (NASDAQ:CHNG) by 53.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,392,251 shares of the company’s stock after selling 1,629,541 shares during the period. Natixis’ holdings in Change Healthcare were worth $32,077,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Alpine Associates Management Inc. lifted its stake in shares of Change Healthcare by 4.5% in the 2nd quarter. Alpine Associates Management Inc. now owns 3,688,951 shares of the company’s stock valued at $84,992,000 after purchasing an additional 157,500 shares during the last quarter. Credit Suisse AG lifted its stake in shares of Change Healthcare by 316.5% in the 1st quarter. Credit Suisse AG now owns 791,841 shares of the company’s stock valued at $17,499,000 after purchasing an additional 601,732 shares during the last quarter. Carlson Capital L P acquired a new position in shares of Change Healthcare in the 1st quarter valued at $21,160,000. Goldman Sachs Group Inc. lifted its stake in shares of Change Healthcare by 6.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,343,641 shares of the company’s stock valued at $73,894,000 after purchasing an additional 212,123 shares during the last quarter. Finally, State of Wisconsin Investment Board lifted its stake in shares of Change Healthcare by 46.9% in the 2nd quarter. State of Wisconsin Investment Board now owns 588,788 shares of the company’s stock valued at $13,566,000 after purchasing an additional 188,046 shares during the last quarter. 93.84% of the stock is currently owned by institutional investors and hedge funds.

Separately, Deutsche Bank Aktiengesellschaft raised Change Healthcare to a “buy” rating and set a $25.75 price target on the stock in a research note on Tuesday, August 31st. Fourteen research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $24.06.

NASDAQ CHNG traded up $0.12 during trading hours on Thursday, hitting $20.61. 8,626 shares of the company were exchanged, compared to its average volume of 1,328,267. The company has a 50 day moving average of $21.44 and a two-hundred day moving average of $22.31. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.45. Change Healthcare Inc. has a 52-week low of $13.79 and a 52-week high of $24.21. The firm has a market cap of $6.41 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 7.88 and a beta of 1.45.

Change Healthcare (NASDAQ:CHNG) last issued its quarterly earnings results on Wednesday, August 4th. The company reported $0.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.03). Change Healthcare had a positive return on equity of 12.99% and a negative net margin of 1.75%. The company had revenue of $867.86 million for the quarter, compared to analysts’ expectations of $857.57 million. During the same quarter last year, the company earned $0.25 EPS. Change Healthcare’s revenue for the quarter was up 25.0% compared to the same quarter last year. On average, equities research analysts predict that Change Healthcare Inc. will post 1.31 EPS for the current year.

Change Healthcare Company Profile

Change Healthcare, Inc engages in the development of healthcare technology platform that offers data and analytics-driven solutions. It operates through the following segments: Software and Analytics, Network Solutions, and Technology-Enabled Services. The Software and Analytics segment provides solutions for revenue cycle management, provider network management, payment accuracy, value-based payments, clinical decision support, consumer engagement, risk adjustment and quality performance, and imaging and clinical workflow.

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Institutional Ownership by Quarter for Change Healthcare (NASDAQ:CHNG)

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