Sunday, March 7, 2021

Market Analysts see Change Healthcare Inc. [CHNG] gaining to $23. Time to buy?

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Change Healthcare Inc. [NASDAQ: CHNG] traded at a low on 02/03/21, posting a -0.42 loss after which it closed the day’ session at $23.86. The company report on February 4, 2021 that Change Healthcare Inc. Reports Third Quarter Fiscal 2021 Financial Results.

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Change Healthcare Inc. (Nasdaq: CHNG) (the “Company” or “Change Healthcare”), a leading independent healthcare technology company, reported financial results for the third quarter ended Dec. 31, 2020 of fiscal year 2021.


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“Our third quarter results demonstrate the strength of the Change Healthcare platform, and our ability to execute well on our growth strategy and financial objectives while navigating the pandemic,” said Neil de Crescenzo, president and chief executive officer. “During the quarter we saw continued demand across our platform. By advancing connectivity and driving innovation we have established a strong foundation to accelerate the delivery of the innovations and efficiencies essential to a brighter future for health care.”.

The results of the trading session contributed to over 4763024 shares changing hands. Over the past one week, the price volatility of Change Healthcare Inc. stands at 0.79% while the volatility over the past one month is 1.05%.

The market cap for CHNG stock reached $7.28 billion, with 320.64 million shares outstanding and 304.55 million shares in the current float. Compared to the average trading volume of 4.91M shares, CHNG reached a trading volume of 4763024 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $24.68 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 2.70. 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.

Berenberg have made an estimate for Change Healthcare Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 08, 2020. While these analysts kept the previous recommendation, Citigroup raised their target price to Buy. The new note on the price target was released on July 14, 2020, representing the official price target for Change Healthcare Inc. stock.

The Average True Range (ATR) for Change Healthcare Inc. is set at 0.41, with the Price to Sales ratio for CHNG stock in the period of the last 12 months amounting to 2.35. The Price to Book ratio for the last quarter was 2.38, with the Price to Cash per share for the same quarter was set at 0.55. Price to Free Cash Flow for CHNG in the course of the last twelve months was 17.73 with Quick ratio for the last quarter at 1.20.

How has CHNG stock performed recently?

Change Healthcare Inc. [CHNG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.29. With this latest performance, CHNG shares gained by 30.74% in over the last four-week period, additionally plugging by 96.54% over the last 6 months – not to mention a rise of 50.63% 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 74.02, with the RSI for the last a single of trading hit 69.43, and the three-weeks RSI is set at 74.39 for Change Healthcare Inc. [CHNG]. The present Moving Average for the last 50 days of trading for this stock 20.35, while it was recorded at 23.87 for the last single week of trading, and 14.79 for the last 200 days.

Change Healthcare Inc. [CHNG]: Deeper insight into the fundamentals

Change Healthcare Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.

Earnings analysis for Change Healthcare Inc. [CHNG]

With the latest financial reports released by the company, Change Healthcare Inc. posted 0.42/share EPS, while the average EPS was predicted by analysts to be reported at 0.37/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 13.50%. 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 5.30%.

Insider trade positions for Change Healthcare Inc. [CHNG]

There are presently around $7,680 million, 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 0.35% of the total institutional ownership; VANGUARD GROUP INC, holding 19,483,533 shares of the stock with an approximate value of $464.88 million in CHNG stocks shares; and CLARKSTON CAPITAL PARTNERS, LLC, currently with $444.05 million in CHNG stock with ownership of nearly 17.352% of the company’s market capitalization.

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130 institutional holders increased their position in Change Healthcare Inc. [NASDAQ:CHNG] by around 35,389,099 shares. Additionally, 119 investors decreased positions by around 29,212,823 shares, while 30 investors held positions by with 257,262,408 shares. The mentioned changes placed institutional holdings at 321,864,330 shares, according to the latest SEC report filing. CHNG stock had 46 new institutional investments in for a total of 12,878,128 shares, while 32 institutional investors sold positions of 12,336,579 shares during the same period.

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