Change Healthcare Inc. [NASDAQ: CHNG] price surged by 0.21 percent to reach at $0.05. The company report on May 27, 2021 that Change Healthcare Inc. Reports Fourth Quarter and Full Year Fiscal 2021 Financial Results.
Change Healthcare Inc. (Nasdaq: CHNG) (the “Company” or “Change Healthcare”), a leading healthcare technology company, reported financial results for the fourth quarter and fiscal year ended March 31, 2021.
“The fourth quarter performance demonstrates the execution of our growth strategy, delivering on our financial objectives while continuing to make investments to support our customers and employees, and advance our capabilities,” said Neil de Crescenzo, president and chief executive officer. “As we enter fiscal 2022, we remain focused on delivering the next phase of growth by advancing our technology-first approach to innovation and further integrating our diverse capabilities to advance connectivity, enhance efficiency, and drive better experiences and outcomes throughout the healthcare industry.”.
A sum of 2649039 shares traded at recent session while its average daily volume was at 2.32M shares. Change Healthcare Inc. shares reached a high of $23.67 and dropped to a low of $23.565 until finishing in the latest session at $23.63.
The one-year CHNG stock forecast points to a potential upside of 7.11. The average equity rating for CHNG stock is currently 2.70, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $25.44 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.
JP Morgan have made an estimate for Change Healthcare Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 29, 2021. While these analysts kept the previous recommendation, Berenberg raised their target price to Buy. The new note on the price target was released on December 08, 2020, representing the official price target for Change Healthcare Inc. stock. Previously, the target price had yet another raise to $15, while Citigroup analysts kept a Buy rating on CHNG stock.
The Average True Range (ATR) for Change Healthcare Inc. is set at 0.23, with the Price to Sales ratio for CHNG stock in the period of the last 12 months amounting to 2.32. The Price to Book ratio for the last quarter was 2.33, with the Price to Cash per share for the same quarter was set at 0.37. Price to Free Cash Flow for CHNG in the course of the last twelve months was 21.14 with Quick ratio for the last quarter at 1.10.
CHNG Stock Performance Analysis:
Change Healthcare Inc. [CHNG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.37. With this latest performance, CHNG shares gained by 2.65% in over the last four-week period, additionally plugging by 37.95% over the last 6 months – not to mention a rise of 88.59% 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 68.90, with the RSI for the last a single of trading hit 75.87, and the three-weeks RSI is set at 64.36 for Change Healthcare Inc. [CHNG]. The present Moving Average for the last 50 days of trading for this stock 22.78, while it was recorded at 23.36 for the last single week of trading, and 19.46 for the last 200 days.
Insight into Change Healthcare Inc. Fundamentals:
Change Healthcare Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.
CHNG Stock EPS
With the latest financial reports released by the company, Change Healthcare Inc. posted 0.25/share EPS, while the average EPS was predicted by analysts to be reported at 0.15/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 66.70%. 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%.
Change Healthcare Inc. [CHNG] Insider Position Details
There are presently around $7,452 million, or 99.20% 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 0.80% of the total institutional ownership; VANGUARD GROUP INC, holding 20,334,469 shares of the stock with an approximate value of $480.5 million in CHNG stocks shares; and CLARKSTON CAPITAL PARTNERS, LLC, currently with $456.1 million in CHNG stock with ownership of nearly 0.05% of the company’s market capitalization.
164 institutional holders increased their position in Change Healthcare Inc. [NASDAQ:CHNG] by around 109,217,935 shares. Additionally, 159 investors decreased positions by around 118,116,871 shares, while 32 investors held positions by with 88,007,561 shares. The mentioned changes placed institutional holdings at 315,342,367 shares, according to the latest SEC report filing. CHNG stock had 96 new institutional investments in for a total of 55,756,338 shares, while 70 institutional investors sold positions of 55,702,560 shares during the same period.