Stock Traders Buy High Volume of Change Healthcare Call Options (NASDAQ:CHNG)

Change Healthcare Inc. (NASDAQ:CHNG) was the target of unusually large options trading activity on Thursday. Stock investors purchased 3,017 call options on the stock. This is an increase of approximately 3,579% compared to the typical daily volume of 82 call options.

CHNG stock opened at $13.25 on Friday. The stock’s 50 day moving average price is $12.81. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.95 and a current ratio of 0.95. Change Healthcare has a fifty-two week low of $11.24 and a fifty-two week high of $15.50.

Change Healthcare (NASDAQ:CHNG) last released its earnings results on Thursday, November 14th. The company reported $0.27 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.27. The firm had revenue of $795.81 million for the quarter, compared to analysts’ expectations of $776.18 million. The business’s revenue for the quarter was down .5% compared to the same quarter last year. Analysts anticipate that Change Healthcare will post 1.43 EPS for the current year.

Several analysts have recently issued reports on CHNG shares. ValuEngine cut shares of Change Healthcare from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Royal Bank of Canada started coverage on shares of Change Healthcare in a research report on Thursday. They set an “outperform” rating on the stock. Zacks Investment Research raised shares of Change Healthcare from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 22nd. Finally, Deutsche Bank started coverage on shares of Change Healthcare in a research report on Thursday, September 26th. They set a “buy” rating and a $15.00 price target on the stock. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $18.77.

Several hedge funds have recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. purchased a new stake in shares of Change Healthcare during the second quarter worth approximately $146,000. Rice Hall James & Associates LLC purchased a new stake in shares of Change Healthcare during the third quarter worth approximately $146,000. Jefferies Group LLC purchased a new stake in shares of Change Healthcare during the second quarter worth approximately $219,000. KCL Capital L.P. purchased a new stake in shares of Change Healthcare during the second quarter worth approximately $219,000. Finally, California Public Employees Retirement System purchased a new stake in shares of Change Healthcare during the third quarter worth approximately $200,000. Hedge funds and other institutional investors own 87.75% of the company’s stock.

Change Healthcare Company Profile

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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