Change Healthcare (NASDAQ:CHNG) Releases Earnings Results, Hits Estimates
Change Healthcare (NASDAQ:CHNG) posted its quarterly earnings results on Wednesday. The company reported $0.27 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.27, Briefing.com reports. The company had revenue of $795.81 million during the quarter, compared to analyst estimates of $776.18 million. The firm’s revenue was down .5% compared to the same quarter last year.
Change Healthcare stock traded up $0.72 during mid-day trading on Thursday, hitting $13.90. 1,648,300 shares of the company’s stock were exchanged, compared to its average volume of 1,306,900. Change Healthcare has a 1-year low of $11.24 and a 1-year high of $15.50. The business has a 50 day moving average price of $12.64.
CHNG has been the topic of a number of research reports. JPMorgan Chase & Co. initiated coverage on shares of Change Healthcare in a research note on Monday, July 22nd. They issued an “overweight” rating and a $18.00 price target on the stock. ValuEngine downgraded shares of Change Healthcare from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. SunTrust Banks initiated coverage on shares of Change Healthcare in a research note on Monday, July 22nd. They issued a “buy” rating and a $21.00 price target on the stock. William Blair initiated coverage on shares of Change Healthcare in a research note on Monday, July 22nd. They issued an “outperform” rating on the stock. Finally, Leerink Swann initiated coverage on shares of Change Healthcare in a research note on Monday, July 22nd. They issued an “outperform” rating and a $20.00 price target on the stock. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $18.77.
Change Healthcare Inc, an independent healthcare technology platform, provides data and analytics-driven solutions to improve clinical, financial, and patient engagement outcomes in the United States healthcare system. It operates in three segments: Software and Analytics, Network Solutions, and Technology-Enabled Services.
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