Change Healthcare (NASDAQ:CHNG – Get Rating) was downgraded to a “neutral” rating from a “buy” rating by equity researchers at Citigroup in a research report issued to clients and investors on Tuesday, reports The Fly.
CHNG has been the subject of several other reports. Cowen posted a price target of $27.75 on Change Healthcare in a research note on Monday, June 20th. Truist Financial began reporting on Change Healthcare in a research report on Wednesday, September 7th. They placed a “hold” rating and a price target of $27.75 on the stock. William Blair issued a new “Market Perform” rating for Change Healthcare stocks in a research report on Friday, June 3rd. Piper Sandler cut Change Healthcare from an “overweight” rating to a “neutral” rating and set a price target of $27.75 on the stock. in a research report on Tuesday. Finally, Credit Suisse Group raised its target price on Change Healthcare to $27.75 from $25.75, and gave the company a neutral rating in a research report on Tuesday, May 31. Five analysts have rated the stock with a hold rating and one with a buy rating. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $27.75.
Change Healthcare Trading down 0.1%
NASDAQ:CHNG opened at $25.47 on Tuesday. The company has a market cap of $8.36 billion, a PE ratio of -106.13, a price-to-earnings-to-growth ratio of 3.10 and a beta of 1.02. The stock has a 50-day simple moving average of $24.49 and a 200-day simple moving average of $23.52. Change Healthcare has a 52-week low of $18.97 and a 52-week high of $25.71. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt to equity ratio of 1.36.
Change Healthcare (NASDAQ:CHNG – Get Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.25 per share for the quarter, missing analyst consensus estimates of $0.33 to ($0.08). The company posted revenue of $884.47 million for the quarter, compared to analysts’ expectations of $890.39 million. Change Healthcare had a positive return on equity of 12.02% and a negative net margin of 2.20%. On average, equity analysts expect Change Healthcare to report earnings per share of 1.03 for the current fiscal year.
Institutional inflows and outflows
A number of institutional investors recently added to or reduced their holdings in the stock. Verition Fund Management LLC increased its stake in Change Healthcare by 102.0% during the second quarter. Verition Fund Management LLC now owns 235,627 shares of the company’s stock valued at $5,434,000 after purchasing an additional 118,958 shares last quarter. Captrust Financial Advisors increased its stake in Change Healthcare by 65.5% during the second quarter. Captrust Financial Advisors now owns 3,053 shares of the company’s stock, valued at $70,000, after purchasing an additional 1,208 shares last quarter. Legal & General Group Plc increased its stake in Change Healthcare by 2.6% in the second quarter. Legal & General Group Plc now owns 222,074 shares of the company, valued at $5,121,000, after purchasing an additional 5,540 shares last quarter. ExodusPoint Capital Management LP increased its stake in Change Healthcare by 88.0% during the second quarter. ExodusPoint Capital Management LP now owns 79,969 shares of the company’s stock valued at $1,844,000 after purchasing an additional 37,425 shares last quarter. Finally, Walleye Capital LLC bought a new position in Change Healthcare stock worth $511,000 during the second quarter. 91.47% of the shares are currently owned by institutional investors.
About Change Healthcare
Change Healthcare Inc, an independent healthcare technology company, provides data and analytics-driven solutions to improve 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.
This instant news alert was generated by MarketBeat’s narrative science technology and financial data to provide readers with the fastest, most accurate reporting. This story was reviewed by the MarketBeat editorial team prior to publication. Please send questions or comments about this story to [email protected]
Hear this before you consider Change Healthcare.
MarketBeat tracks Wall Street’s best-in-class, top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now, before the broader market takes hold… and Change Healthcare wasn’t on the list.
While Change Healthcare is currently rated a “Moderate Buy” by analysts, top analysts believe these five stocks are better buys.
Check out the five stocks here