Citigroup slashes price target on Change Healthcare Inc. [CHNG] – find out why.

Change Healthcare Inc. [NASDAQ: CHNG] surged by $0.14 during the normal trading session on Monday and reaching a high of $13.05 during the day while it closed the day at $12.96. The company report on August 5, 2020 that Change Healthcare Inc. Reports First Quarter Fiscal 2021 Financial Results.

Change Healthcare Inc. (Nasdaq: CHNG), a leading independent healthcare technology company, today reported financial results for the first quarter of fiscal year 2021 ended June 30, 2020.

“While the first quarter reflects the impact of COVID-19, we are proud of our team members who adapted quickly to address the needs of our customers and enabled us to deliver financial results ahead of our expectations and continued to drive new innovations,” said Neil de Crescenzo, president and chief executive officer. “Given Change Healthcare sits at the center of the U.S. healthcare system facilitating more than $1.5 trillion in claims and 15 billion transactions annually, we remain committed to supporting our customers and leading researchers with data, insights, and advanced solutions to ensure access, affordability, and improved outcomes for consumers. Despite the short-term uncertainty related to COVID-19, we believe positive underlying demand across our portfolio combined with continued innovation will enable us to drive increased value for both our customers and shareholders moving forward.”.

Change Healthcare Inc. stock has also gained 10.86% of its value over the past 7 days. However, CHNG stock has inclined by 12.21% in the 3 months of the year. Over the past six months meanwhile, it has lost -17.45% and lost -20.93% year-on date.

The market cap for CHNG stock reached $4.02 billion, with 309.81 million shares outstanding and 287.82 million shares in the current float. Compared to the average trading volume of 4.27M shares, CHNG reached a trading volume of 3362134 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Change Healthcare Inc. [CHNG]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CHNG shares is $16.72 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CHNG stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Citigroup have made an estimate for Change Healthcare Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 14, 2020. The new note on the price target was released on April 13, 2020, representing the official price target for Change Healthcare Inc. stock. Previously, the target price had yet another raise to $20, while Raymond James analysts kept a Strong Buy rating on CHNG stock.

The Average True Range (ATR) for Change Healthcare Inc. is set at 0.50, with the Price to Sales ratio for CHNG stock in the period of the last 12 months amounting to 1.22. The Price to Book ratio for the last quarter was 0.83. Price to Free Cash Flow for CHNG in the course of the last twelve months was 9.56 with Quick ratio for the last quarter at 1.30.

CHNG stock trade performance evaluation

Change Healthcare Inc. [CHNG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.86. With this latest performance, CHNG shares gained by 28.96% in over the last four-week period, additionally sinking by -17.45% over the last 6 months – not to mention a drop of -1.82% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CHNG stock in for the last two-week period is set at 69.66, with the RSI for the last a single of trading hit 73.67, and the three-weeks RSI is set at 62.82 for Change Healthcare Inc. [CHNG]. The present Moving Average for the last 50 days of trading for this stock 11.53, while it was recorded at 12.68 for the last single week of trading, and 12.69 for the last 200 days.

Change Healthcare Inc. [CHNG]: An insightful look at the core fundamentals

Change Healthcare Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.30.

Earnings per share (EPS) analysis for Change Healthcare Inc. [CHNG] stock

With the latest financial reports released by the company, Change Healthcare Inc. posted 0.27/share EPS, while the average EPS was predicted by analysts to be reported at 0.27/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CHNG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Change Healthcare Inc. go to 3.44%.

Change Healthcare Inc. [CHNG]: Insider Ownership positions

There are presently around $3,994 million, or 58.14% of CHNG stock, in the hands of institutional investors. The top three institutional holders of CHNG stocks are: BLACKSTONE GROUP INC with ownership of 59,620,253, which is approximately 0% of the company’s market cap and around 0.60% of the total institutional ownership; VANGUARD GROUP INC, holding 21,437,420 shares of the stock with an approximate value of $277.83 million in CHNG stocks shares; and HELLMAN & FRIEDMAN LLC, currently with $196.1 million in CHNG stock with ownership of nearly 0% of the company’s market capitalization.

181 institutional holders increased their position in Change Healthcare Inc. [NASDAQ:CHNG] by around 168,558,274 shares. Additionally, 50 investors decreased positions by around 24,528,418 shares, while 13 investors held positions by with 115,101,030 shares. The mentioned changes placed institutional holdings at 308,187,722 shares, according to the latest SEC report filing. CHNG stock had 84 new institutional investments in for a total of 62,292,506 shares, while 25 institutional investors sold positions of 11,569,094 shares during the same period.

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