Piper Sandler lowered shares of Change Healthcare (NASDAQ:CHNG – Get Rating) from an overweight rating to a neutral rating in a research report released on Tuesday morning, MarketBeat Ratings reports. Piper Sandler currently has $27.75 target price on the stock, up from their previous target price of $26.00.
Several other analysts have also recently weighed in on CHNG. SVB Leerink reissued an outperform rating on shares of Change Healthcare in a research note on Thursday, May 26th. Credit Suisse Group lifted their price target on shares of Change Healthcare from $25.75 to $27.75 and gave the stock a neutral rating in a research note on Tuesday, May 31st. William Blair reissued a market perform rating on shares of Change Healthcare in a research report on Friday, June 3rd. Cowen set a $27.75 target price on shares of Change Healthcare in a report on Monday, June 20th. Finally, Truist Financial began coverage on shares of Change Healthcare in a report on Wednesday, September 7th. They set a hold rating and a $27.75 price objective on the stock. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $27.75.
Get Change Healthcare alerts:Change Healthcare Trading Up 6.4 %
CHNG opened at $27.11 on Tuesday. The firm has a market cap of $8.90 billion, a P/E ratio of -112.96, a P/E/G ratio of 3.10 and a beta of 1.02. Change Healthcare has a 12 month low of $18.97 and a 12 month high of $27.27. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.36. The stock has a 50-day moving average of $24.58 and a 200 day moving average of $23.54.
Change Healthcare (NASDAQ:CHNG – Get Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.33 by ($0.08). The business had revenue of $884.47 million during the quarter, compared to the consensus estimate of $890.39 million. Change Healthcare had a positive return on equity of 12.02% and a negative net margin of 2.20%. As a group, research analysts forecast that Change Healthcare will post 1.03 EPS for the current year.Hedge Funds Weigh In On Change Healthcare
Institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its position in shares of Change Healthcare by 246.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 6,655,216 shares of the company's stock valued at $153,470,000 after purchasing an additional 4,732,208 shares in the last quarter. TIG Advisors LLC lifted its stake in Change Healthcare by 339.3% during the second quarter. TIG Advisors LLC now owns 4,288,914 shares of the company's stock valued at $98,902,000 after buying an additional 3,312,627 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Change Healthcare during the second quarter valued at about $73,561,000. Canyon Capital Advisors LLC purchased a new stake in Change Healthcare during the first quarter valued at about $68,248,000. Finally, Franklin Resources Inc. lifted its stake in Change Healthcare by 29,412.8% during the second quarter. Franklin Resources Inc. now owns 1,774,900 shares of the company's stock valued at $40,929,000 after buying an additional 1,768,886 shares in the last quarter. Institutional investors own 91.47% of the company's stock.
About Change Healthcare
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Change Healthcare Inc, an independent healthcare technology company, provides data and analytics-driven solutions to enhance 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.
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