Change Healthcare Inc. [CHNG] Stock trading around $25.50 per share: What’s Next?

Change Healthcare Inc. [NASDAQ: CHNG] traded at a high on 09/14/22, posting a 0.75 gain after which it closed the day’ session at $25.50. The company report on August 3, 2022 that Change Healthcare Inc. Reports First Quarter Fiscal 2023 Financial Results.

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Revenue growth driven by continued momentum in core business and investment in expanded capabilities.

Total revenue of $884M, including solutions revenue of $831M; solutions revenue growth of 1.8% driven by increased volume and new sales.

The results of the trading session contributed to over 4329643 shares changing hands. Over the past one week, the price volatility of Change Healthcare Inc. stands at 1.61% while the volatility over the past one month is 0.97%.

The market cap for CHNG stock reached $8.40 billion, with 326.56 million shares outstanding and 325.75 million shares in the current float. Compared to the average trading volume of 2.53M shares, CHNG reached a trading volume of 4329643 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 $27.11 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 2.40. 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.

Truist have made an estimate for Change Healthcare Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on September 07, 2022. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Neutral. The new note on the price target was released on April 01, 2022, representing the official price target for Change Healthcare Inc. stock. Previously, the target price had yet another raise to $25.75, while Citigroup analysts kept a Buy rating on CHNG stock.

The Average True Range (ATR) for Change Healthcare Inc. is set at 0.28, with the Price to Sales ratio for CHNG stock in the period of the last 12 months amounting to 2.40. The Price to Book ratio for the last quarter was 2.53, with the Price to Cash per share for the same quarter was set at 0.29. Price to Free Cash Flow for CHNG in the course of the last twelve months was 22.09 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 2.86. With this latest performance, CHNG shares gained by 2.99% in over the last four-week period, additionally plugging by 18.06% over the last 6 months – not to mention a rise of 18.16% 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 67.26, with the RSI for the last a single of trading hit 69.72, and the three-weeks RSI is set at 64.91 for Change Healthcare Inc. [CHNG]. The present Moving Average for the last 50 days of trading for this stock 24.33, while it was recorded at 25.44 for the last single week of trading, and 22.50 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]

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%.

Insider trade positions for Change Healthcare Inc. [CHNG]

There are presently around $7,749 million, or 96.00% 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 22,061,619 shares of the stock with an approximate value of $562.57 million in CHNG stocks shares; and CLARKSTON CAPITAL PARTNERS, LLC, currently with $467.38 million in CHNG stock with ownership of nearly -3.227% of the company’s market capitalization.

146 institutional holders increased their position in Change Healthcare Inc. [NASDAQ:CHNG] by around 38,853,264 shares. Additionally, 138 investors decreased positions by around 47,272,406 shares, while 58 investors held positions by with 217,760,068 shares. The mentioned changes placed institutional holdings at 303,885,738 shares, according to the latest SEC report filing. CHNG stock had 52 new institutional investments in for a total of 11,781,701 shares, while 42 institutional investors sold positions of 14,133,510 shares during the same period.


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