Change Healthcare’s (CHNG) “Buy” Rating Reiterated at Bank of America

Bank of America restated their buy rating on shares of Change Healthcare (NASDAQ:CHNG) in a research report report published on Monday morning, TipRanks reports. They currently have a $15.00 target price on the stock.

Several other brokerages also recently weighed in on CHNG. Goldman Sachs Group reaffirmed a buy rating on shares of Change Healthcare in a research report on Wednesday, March 18th. Barclays dropped their target price on Change Healthcare from $18.00 to $14.00 and set an overweight rating on the stock in a report on Thursday, April 9th. SVB Leerink assumed coverage on Change Healthcare in a research report on Monday, April 13th. They set an outperform rating and a $13.00 price target for the company. Raymond James raised Change Healthcare from an outperform rating to a strong-buy rating and set a $20.00 price target for the company in a report on Wednesday, March 18th. Finally, Credit Suisse Group reaffirmed a buy rating and set a $16.00 price objective on shares of Change Healthcare in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Change Healthcare has a consensus rating of Buy and an average target price of $17.03.

Shares of NASDAQ:CHNG opened at $10.47 on Monday. Change Healthcare has a twelve month low of $6.18 and a twelve month high of $17.57. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.43. The company has a market cap of $3.33 billion and a PE ratio of 261.82. The company’s 50 day moving average is $11.77 and its 200 day moving average is $12.80.

Change Healthcare (NASDAQ:CHNG) last released its quarterly earnings data on Wednesday, June 3rd. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.37 by $0.05. The business had revenue of $843.40 million for 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 firm’s revenue for the quarter was up .8% compared to the same quarter last year. Equities research analysts predict that Change Healthcare will post 0.96 earnings per share for the current fiscal year.

In other Change Healthcare news, CFO Fredrik J. Eliasson bought 100,000 shares of the stock in a transaction on Wednesday, June 10th. The shares were bought at an average price 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 can be accessed through this hyperlink.

Hedge funds have recently bought and sold shares of the company. Great West Life Assurance Co. Can acquired a new stake in shares of Change Healthcare in the fourth quarter valued at approximately $54,000. UBS Group AG purchased a new stake in Change Healthcare in the 4th quarter valued at $61,000. Citigroup Inc. increased its stake in shares of Change Healthcare by 66.3% in the 4th quarter. Citigroup Inc. now owns 5,701 shares of the company’s stock worth $93,000 after acquiring an additional 2,272 shares during the last quarter. Alambic Investment Management L.P. purchased a new position in shares of Change Healthcare during the 4th quarter worth $170,000. Finally, Amalgamated Bank boosted its position in shares of Change Healthcare by 9.8% during the 4th 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.

Change Healthcare Company Profile

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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