Change Healthcare Inc. (NASDAQ:CHNG) – Equities researchers at SunTrust Banks reduced their FY2021 earnings estimates for Change Healthcare in a research report issued on Wednesday, June 24th. SunTrust Banks analyst S. Draper now expects that the company will earn $1.13 per share for the year, down from their previous estimate of $1.15. SunTrust Banks has a “Buy” rating and a $17.00 price target on the stock.

Change Healthcare (NASDAQ:CHNG) last announced its quarterly earnings results on Wednesday, June 3rd. The company reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.05. The business had revenue of $843.40 million during the quarter, compared to the consensus estimate of $834.69 million. Change Healthcare had a negative net margin of 0.17% and a positive return on equity of 22.03%. The business’s quarterly revenue was up .8% compared to the same quarter last year.

Several other analysts also recently weighed in on the stock. ValuEngine downgraded shares of Change Healthcare from a “hold” rating to a “sell” rating in a report on Thursday, April 2nd. Barclays dropped their target price on shares of Change Healthcare from $18.00 to $14.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Credit Suisse Group reiterated a “buy” rating and issued a $16.00 target price on shares of Change Healthcare in a report on Wednesday, May 6th. Raymond James upgraded shares of 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 target price on shares of Change Healthcare from $12.00 to $14.00 and gave the company a “buy” rating in a report on Monday, June 8th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $16.97.

Shares of NASDAQ CHNG opened at $11.07 on Monday. The company has a 50 day simple moving average of $11.78 and a 200-day simple moving average of $12.92. The company has a market capitalization of $3.35 billion and a P/E ratio of 276.82. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 1.32. Change Healthcare has a 1 year low of $6.18 and a 1 year high of $17.57.

In other news, CFO Fredrik J. Eliasson acquired 100,000 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was acquired at an average cost of $12.00 per share, with a total value of $1,200,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Several institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its position in shares of Change Healthcare by 9.2% during the 4th quarter. Victory Capital Management Inc. now owns 9,299 shares of the company’s stock worth $144,000 after purchasing an additional 780 shares during the last quarter. Amalgamated Bank lifted its position in Change Healthcare by 9.8% in the fourth quarter. Amalgamated Bank now owns 11,993 shares of the company’s stock valued at $197,000 after acquiring an additional 1,068 shares during the last quarter. Citigroup Inc. lifted its position in Change Healthcare by 66.3% in the fourth quarter. Citigroup Inc. now owns 5,701 shares of the company’s stock valued at $93,000 after acquiring an additional 2,272 shares during the last quarter. Great West Life Assurance Co. Can purchased a new stake in Change Healthcare in the fourth quarter valued at $54,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Change Healthcare by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 183,676 shares of the company’s stock valued at $3,011,000 after acquiring an additional 3,727 shares during the last quarter.

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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Earnings History and Estimates for Change Healthcare (NASDAQ:CHNG)

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