Market cap of Change Healthcare Inc. [CHNG] reaches 4.49B – now what?

Change Healthcare Inc. [NASDAQ: CHNG] gained 0.89% or 0.13 points to close at $14.80 with a heavy trading volume of 1157473 shares. The company report on October 20, 2020 that iCAD Signs Distribution Agreement with Change Healthcare.

Contract with market-leading enterprise imaging provider expands access to ProFound AI for hospitals and imaging centers across North America.

iCAD, Inc. (NASDAQ: ICAD), a global medical technology leader providing innovative cancer detection and therapy solutions, today announced it has signed a distribution agreement with Change Healthcare (NASDAQ: CHNG), a leading independent healthcare technology company focused on insights, innovation and accelerating the transformation of the U.S. healthcare system. The agreement will expand access to ProFound AI™ for more hospitals and imaging centers across North America.

It opened the trading session at $14.49, the shares rose to $14.975 and dropped to $14.32, the range by which the price of stock traded the whole day. The daily chart for CHNG points out that the company has recorded 46.83% gains over the past six months. However, it is still -139.48% lower than its most recent low trading price.

If we look at the average trading volume of 2.79M shares, CHNG reached to a volume of 1157473 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 $18.00 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 1.60. 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 0.52, with the Price to Sales ratio for CHNG stock in the period of the last 12 months amounting to 1.43. The Price to Book ratio for the last quarter was 1.46, with the Price to Cash per share for the same quarter was set at 0.59. Price to Free Cash Flow for CHNG in the course of the last twelve months was 10.70 with Quick ratio for the last quarter at 1.30.

Trading performance analysis for CHNG stock

Change Healthcare Inc. [CHNG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.13. With this latest performance, CHNG shares gained by 6.78% in over the last four-week period, additionally plugging by 46.83% over the last 6 months – not to mention a rise of 13.76% 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 55.89, with the RSI for the last a single of trading hit 51.77, and the three-weeks RSI is set at 56.71 for Change Healthcare Inc. [CHNG]. The present Moving Average for the last 50 days of trading for this stock 14.10, while it was recorded at 14.92 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 2.72%.

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

There are presently around $4,697 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 $305.16 million in CHNG stocks shares; and EMINENCE CAPITAL, LP, currently with $236.7 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 55,030,939 shares. Additionally, 101 investors decreased positions by around 54,377,804 shares, while 19 investors held positions by with 207,956,280 shares. The mentioned changes placed institutional holdings at 317,365,023 shares, according to the latest SEC report filing. CHNG stock had 55 new institutional investments in for a total of 14,129,862 shares, while 40 institutional investors sold positions of 15,386,788 shares during the same period.

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