Change Healthcare (NASDAQ:CHNG) had its price objective raised by Piper Sandler from $23.00 to $25.75 in a research note released on Wednesday morning, The Fly reports. Piper Sandler currently has an overweight rating on the stock. Piper Sandler also issued estimates for Change Healthcareâ€™s Q3 2021 earnings at $0.26 EPS, Q4 2021 earnings at $0.34 EPS, FY2021 earnings at $1.11 EPS, Q1 2022 earnings at $0.32 EPS, Q2 2022 earnings at $0.32 EPS, Q3 2022 earnings at $0.37 EPS, Q4 2022 earnings at $0.44 EPS and FY2022 earnings at $1.46 EPS.
Several other research analysts also recently weighed in on the company. SVB Leerink boosted their target price on Change Healthcare from $19.00 to $22.00 and gave the stock an outperform rating in a research note on Tuesday, December 15th. Berenberg Bank started coverage on Change Healthcare in a research report on Tuesday, December 8th. They set a buy rating and a $23.00 price target for the company. William Blair cut Change Healthcare from an outperform rating to a market perform rating in a research report on Wednesday. CSFB lifted their price target on Change Healthcare from $16.00 to $19.00 and gave the stock an outperform rating in a research report on Monday, September 28th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Change Healthcare from $16.00 to $18.00 and gave the stock a buy rating in a research report on Monday, November 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the companyâ€™s stock. The company presently has a consensus rating of Buy and a consensus price target of $20.01.
Shares of CHNG stock opened at $23.76 on Wednesday. Change Healthcare has a 1-year low of $6.18 and a 1-year high of $24.21. The stockâ€™s fifty day moving average price is $17.91 and its 200 day moving average price is $14.51. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market cap of $7.23 billion, a price-to-earnings ratio of -43.13, a price-to-earnings-growth ratio of 8.10 and a beta of 1.71.
Change Healthcare (NASDAQ:CHNG) last announced its earnings results on Monday, November 9th. The company reported $0.32 earnings per share for the quarter, topping the Thomson Reutersâ€™ consensus estimate of $0.25 by $0.07. Change Healthcare had a positive return on equity of 13.43% and a negative net margin of 5.76%. The firm had revenue of $755.94 million for the quarter, compared to the consensus estimate of $745.02 million. During the same period in the previous year, the business earned $0.27 EPS. The firmâ€™s revenue for the quarter was down 5.0% on a year-over-year basis. As a group, equities research analysts anticipate that Change Healthcare will post 1.12 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHNG. Blackstone Group Inc acquired a new position in Change Healthcare in the 3rd quarter worth about $865,090,000. Boston Partners acquired a new position in Change Healthcare in the 3rd quarter worth about $217,955,000. Camber Capital Management LP acquired a new position in Change Healthcare in the 3rd quarter worth about $217,650,000. BlackRock Inc. acquired a new position in Change Healthcare in the 3rd quarter worth about $155,691,000. Finally, Cardinal Capital Management LLC CT acquired a new position in Change Healthcare in the 3rd quarter worth about $78,989,000.
About Change Healthcare
Change Healthcare Inc, an independent healthcare technology platform, 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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