Change Healthcare Inc. [NASDAQ: CHNG] loss -1.99% or -0.46 points to close at $22.62 with a heavy trading volume of 6062395 shares. The company report on April 19, 2022 that Change Healthcare Launches InterQual® 2022, Delivering the Latest Evidence-Based Criteria and Technology to Optimize Clinical Decision Support.
InterQual solutions provide health care providers and health plans nationwide with evidence-based, independently peer-reviewed criteria and workflow enhancements to streamline utilization management.
Today, Change Healthcare (Nasdaq: CHNG) released InterQual® 2022, the latest edition of the company’s flagship clinical decision support solution for the delivery of the latest, evidence-based appropriate care. The release includes new criteria for emergent trends, restructured and interactive criteria to streamline workflows, and artificial intelligence (AI) to drive proactive insights and efficiency. All updates have been rigorously researched and independently peer reviewed, so users can feel confident that the criteria are free of bias.
It opened the trading session at $23.05, the shares rose to $23.15 and dropped to $22.42, the range by which the price of stock traded the whole day. The daily chart for CHNG points out that the company has recorded 5.75% gains over the past six months. However, it is still -19.24% lower than its most recent low trading price.
If we look at the average trading volume of 2.82M shares, CHNG reached to a volume of 6062395 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 $26.12 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 2.60. 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.
Credit Suisse have made an estimate for Change Healthcare Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 01, 2022. The new note on the price target was released on February 04, 2022, representing the official price target for Change Healthcare Inc. stock. Previously, the target price had yet another raise to $25.75, while JP Morgan analysts kept a Neutral rating on CHNG stock.
The Average True Range (ATR) for Change Healthcare Inc. is set at 0.36, with the Price to Sales ratio for CHNG stock in the period of the last 12 months amounting to 2.07. The Price to Book ratio for the last quarter was 2.26, with the Price to Cash per share for the same quarter was set at 0.31. Price to Free Cash Flow for CHNG in the course of the last twelve months was 25.13 with Quick ratio for the last quarter at 1.10.
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 -4.64. With this latest performance, CHNG shares dropped by -3.95% in over the last four-week period, additionally plugging by 5.75% over the last 6 months – not to mention a rise of 1.16% 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 38.29, with the RSI for the last a single of trading hit 27.72, and the three-weeks RSI is set at 45.59 for Change Healthcare Inc. [CHNG]. The present Moving Average for the last 50 days of trading for this stock 22.63, while it was recorded at 23.13 for the last single week of trading, and 21.39 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 1.10 and a Current Ratio set at 1.10.
Change Healthcare Inc. [CHNG]: An earnings per share (EPS) analysis
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 13.00%.
An analysis of insider ownership at Change Healthcare Inc. [CHNG]
There are presently around $6,744 million, or 97.70% of CHNG stock, in the hands of institutional investors. The top three institutional holders of CHNG stocks are: BLACKSTONE INC. with ownership of 59,620,253, which is approximately 0% of the company’s market cap and around 1.40% of the total institutional ownership; VANGUARD GROUP INC, holding 21,424,231 shares of the stock with an approximate value of $494.47 million in CHNG stocks shares; and CLARKSTON CAPITAL PARTNERS, LLC, currently with $437.13 million in CHNG stock with ownership of nearly 0.283% of the company’s market capitalization.
121 institutional holders increased their position in Change Healthcare Inc. [NASDAQ:CHNG] by around 32,518,694 shares. Additionally, 141 investors decreased positions by around 32,826,541 shares, while 53 investors held positions by with 226,866,850 shares. The mentioned changes placed institutional holdings at 292,212,085 shares, according to the latest SEC report filing. CHNG stock had 34 new institutional investments in for a total of 6,859,918 shares, while 43 institutional investors sold positions of 14,243,021 shares during the same period.