Sunday, September 20, 2020

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

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Change Healthcare Inc. [NASDAQ: CHNG] gained 1.47% or 0.21 points to close at $14.53 with a heavy trading volume of 1476158 shares. The company report on September 10, 2020 that Change Healthcare Artificial Intelligence Decreases Administrative Burden of Case Management.

AI automatically extracts diagnostic data from clinical notes to increase efficiency of automated medical necessity reviews by over 20%.

Today Change Healthcare (Nasdaq: CHNG) announced innovative new Artificial Intelligence models, trained by expert physicians, which extract meaningful diagnostic information from text in EHRs. The first application of this technology will be within the InterQual AutoReview™ solution, which automates medical necessity reviews using real-time data from EHRs.

It opened the trading session at $14.435, the shares rose to $14.61 and dropped to $14.29, the range by which the price of stock traded the whole day. The daily chart for CHNG points out that the company has recorded 62.71% gains over the past six months. However, it is still -135.11% lower than its most recent low trading price.

If we look at the average trading volume of 3.62M shares, CHNG reached to a volume of 1476158 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $17.32 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 0.49, with the Price to Sales ratio for CHNG stock in the period of the last 12 months amounting to 1.41. The Price to Book ratio for the last quarter was 1.44, with the Price to Cash per share for the same quarter was set at 0.58. Price to Free Cash Flow for CHNG in the course of the last twelve months was 10.56 with Quick ratio for the last quarter at 1.30.

Trading performance analysis for CHNG stock

Change Healthcare Inc. [CHNG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.16. With this latest performance, CHNG shares gained by 13.43% in over the last four-week period, additionally plugging by 62.71% over the last 6 months – not to mention a rise of 6.29% 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 69.14, with the RSI for the last a single of trading hit 67.25, and the three-weeks RSI is set at 65.77 for Change Healthcare Inc. [CHNG]. The present Moving Average for the last 50 days of trading for this stock 12.40, while it was recorded at 14.36 for the last single week of trading, and 12.74 for the last 200 days.

Change Healthcare Inc. [CHNG]: A deeper dive into fundamental analysis

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.

Change Healthcare Inc. [CHNG]: An earnings per share (EPS) analysis

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 3.34%.

An analysis of insider ownership at Change Healthcare Inc. [CHNG]

There are presently around $4,611 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 20,618,877 shares of the stock with an approximate value of $299.59 million in CHNG stocks shares; and EMINENCE CAPITAL, LP, currently with $232.38 million in CHNG stock with ownership of nearly 67.602% of the company’s market capitalization.

154 institutional holders increased their position in Change Healthcare Inc. [NASDAQ:CHNG] by around 55,685,764 shares. Additionally, 109 investors decreased positions by around 55,189,813 shares, while 17 investors held positions by with 206,448,441 shares. The mentioned changes placed institutional holdings at 317,324,018 shares, according to the latest SEC report filing. CHNG stock had 54 new institutional investments in for a total of 14,109,191 shares, while 47 institutional investors sold positions of 16,311,290 shares during the same period.

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