Change Healthcare (NASDAQ:CHNG) Trading Up 7.3%

Shares of Change Healthcare Inc. (NASDAQ:CHNG) were up 7.3% during mid-day trading on Wednesday . The stock traded as high as $12.41 and last traded at $12.34, approximately 1,980,433 shares were traded during mid-day trading. An increase of 30% from the average daily volume of 1,525,300 shares. The stock had previously closed at $11.50.

Several equities research analysts recently issued reports on CHNG shares. Piper Jaffray Companies started coverage on Change Healthcare in a research note on Monday, July 22nd. They issued an “overweight” rating and a $18.50 price target for the company. SunTrust Banks started coverage on Change Healthcare in a research note on Monday, July 22nd. They issued a “buy” rating and a $21.00 price target for the company. William Blair started coverage on Change Healthcare in a research note on Monday, July 22nd. They issued an “outperform” rating for the company. Cantor Fitzgerald started coverage on Change Healthcare in a research note on Monday, July 22nd. They issued an “overweight” rating and a $20.00 price target for the company. Finally, Citigroup started coverage on Change Healthcare in a research note on Monday, July 22nd. They issued a “buy” rating and a $22.00 price target for the company. One research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Change Healthcare currently has an average rating of “Buy” and an average price target of $19.04.

The business has a 50 day simple moving average of $13.75.

Change Healthcare (NASDAQ:CHNG) last released its earnings results on Tuesday, August 13th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.18. The business had revenue of $814.00 million for the quarter, compared to the consensus estimate of $795.66 million. The business’s revenue was down 1.1% compared to the same quarter last year. Sell-side analysts anticipate that Change Healthcare Inc. will post 1.51 earnings per share for the current fiscal year.

In related news, CEO Crescenzo Neil E. De purchased 75,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $14.17 per share, for a total transaction of $1,062,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider August Calhoun purchased 427,209 shares of the stock in a transaction dated Friday, June 28th. The shares were bought at an average price of $13.35 per share, with a total value of $5,703,240.15. Insiders have acquired 578,209 shares of company stock valued at $7,783,190 over the last 90 days. Corporate insiders own 20.77% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Daiwa Securities Group Inc. acquired a new position in shares of Change Healthcare during the second quarter worth $146,000. Jefferies Group LLC acquired a new position in shares of Change Healthcare during the second quarter worth $219,000. KCL Capital L.P. acquired a new position in shares of Change Healthcare during the second quarter worth $219,000. GSA Capital Partners LLP acquired a new position in shares of Change Healthcare during the second quarter worth $248,000. Finally, SG Americas Securities LLC acquired a new position in shares of Change Healthcare during the second quarter worth $337,000. Institutional investors own 88.66% of the company’s stock.

Change Healthcare Company Profile (NASDAQ:CHNG)

Change Healthcare Inc, an independent healthcare technology platform, provides data and analytics-driven solutions to improve clinical, financial, and patient engagement outcomes in the United States healthcare system. It operates in three segments: Software and Analytics, Network Solutions, and Technology-Enabled Services.

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