Change Healthcare (NASDAQ:CHNG) had its target price decreased by research analysts at SunTrust Banks from $21.00 to $17.00 in a research note issued on Thursday, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the stock. SunTrust Banks’ price target indicates a potential upside of 66.50% from the stock’s current price.

Several other analysts have also recently weighed in on CHNG. Wells Fargo & Co raised shares of Change Healthcare from an “equal weight” rating to an “overweight” rating and set a $19.00 target price on the stock in a report on Tuesday, March 10th. Goldman Sachs Group reaffirmed a “buy” rating on shares of Change Healthcare in a report on Wednesday, March 18th. BidaskClub raised Change Healthcare from a “sell” rating to a “hold” rating in a report on Thursday. Raymond James raised Change Healthcare from an “outperform” rating to a “strong-buy” rating and set a $20.00 target price for the company in a report on Wednesday, March 18th. Finally, Deutsche Bank lifted their price target on Change Healthcare from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $18.62.

NASDAQ:CHNG traded up $0.17 during mid-day trading on Thursday, hitting $10.21. The stock had a trading volume of 693,790 shares, compared to its average volume of 16,481,430. The stock has a 50-day simple moving average of $13.19 and a two-hundred day simple moving average of $13.77. Change Healthcare has a twelve month low of $6.18 and a twelve month high of $17.57. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.01.

Change Healthcare (NASDAQ:CHNG) last issued its earnings results on Thursday, February 13th. The company reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.02. The firm had revenue of $808.23 million during the quarter, compared to analyst estimates of $815.66 million. As a group, equities research analysts predict that Change Healthcare will post 1.41 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in Change Healthcare during the 4th quarter worth about $27,173,000. Geode Capital Management LLC grew its holdings in Change Healthcare by 25.8% in the 4th quarter. Geode Capital Management LLC now owns 570,985 shares of the company’s stock valued at $9,358,000 after buying an additional 117,157 shares during the period. Hawk Ridge Capital Management LP purchased a new stake in Change Healthcare in the 4th quarter valued at about $41,224,000. UBS Asset Management Americas Inc. purchased a new stake in Change Healthcare in the 4th quarter valued at about $631,000. Finally, Bank of New York Mellon Corp grew its holdings in Change Healthcare by 192.7% in the 4th quarter. Bank of New York Mellon Corp now owns 702,842 shares of the company’s stock valued at $11,520,000 after buying an additional 462,725 shares during the period.

About Change Healthcare

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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Analyst Recommendations for Change Healthcare (NASDAQ:CHNG)

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