Change Healthcare Inc. [CHNG] Stock trading around $27.11 per share: What’s Next?

Change Healthcare Inc. [NASDAQ: CHNG] stock went on an upward path that rose over 6.44% on Tuesday, amounting to a one-week price increase of more than 7.11%. The company report on September 20, 2022 that District Court Denies Request to Enjoin Acquisition of Change Healthcare Inc. by UnitedHealth Group Incorporated: Change Healthcare Inc: Announces Special Cash Dividend.


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Yesterday, the U.S. District Court for the District of Columbia issued an opinion and final appealable order denying the request made by the U.S. Department of Justice and the States of New York and Minnesota for the Court to enjoin UnitedHealth Group Incorporated (NYSE: UNH) (“UnitedHealth Group”) from acquiring Change Healthcare Inc. (Nasdaq: CHNG) (the “Company” or “Change Healthcare”) pursuant to the proposed merger (the “Merger”) between the Company and a wholly owned subsidiary of UnitedHealth Group, which will result in the combination of the Company and Optum Insight, a part of UnitedHealth Group. The opinion and final appealable order also require UnitedHealth Group and the Company to divest ClaimsXten to TPG Capital as proposed by UnitedHealth Group and the Company.

Today, the Company announced that it has declared a one-time special dividend of $2.00 in cash per each issued and outstanding share of common stock of the Company. The special dividend will be paid to stockholders of record of the Company’s common stock as of immediately prior to the effective time of the Merger which pursuant to Nasdaq requirements will occur no less than ten (10) days from today, subject to the satisfaction of closing conditions. The special dividend will be payable on or about the first business day following the closing of the Merger.

Over the last 12 months, CHNG stock rose by 24.36%. The one-year Change Healthcare Inc. stock forecast points to a potential downside of 0.0. The average equity rating for CHNG stock is currently 2.40, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $8.92 billion, with 326.56 million shares outstanding and 325.74 million shares in the current float. Compared to the average trading volume of 2.60M shares, CHNG stock reached a trading volume of 52109367 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $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.

Piper Sandler have made an estimate for Change Healthcare Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on September 20, 2022. The new note on the price target was released on September 20, 2022, representing the official price target for Change Healthcare Inc. stock. Previously, the target price had yet another raise to $27.75, while Truist analysts kept a Hold 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 2.55. The Price to Book ratio for the last quarter was 2.69, 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 23.47 with Quick ratio for the last quarter at 1.20.

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 7.11. With this latest performance, CHNG shares gained by 9.49% in over the last four-week period, additionally plugging by 24.59% over the last 6 months – not to mention a rise of 24.36% 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 82.25, with the RSI for the last a single of trading hit 87.28, and the three-weeks RSI is set at 77.50 for Change Healthcare Inc. [CHNG]. The present Moving Average for the last 50 days of trading for this stock 24.54, while it was recorded at 25.83 for the last single week of trading, and 22.61 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 1.20 and a Current Ratio set at 1.20.

CHNG Stock EPS

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%.

Change Healthcare Inc. [CHNG] Insider Position Details

There are presently around $8,238 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 $598.09 million in CHNG stocks shares; and CLARKSTON CAPITAL PARTNERS, LLC, currently with $496.89 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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