Change Healthcare (NASDAQ:CHNG) Upgraded by ValuEngine to Buy

Change Healthcare (NASDAQ:CHNG) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, ValuEngine reports.

Other research analysts also recently issued reports about the company. Deutsche Bank started coverage on Change Healthcare in a research note on Thursday, September 26th. They set a “buy” rating and a $15.00 price objective for the company. Royal Bank of Canada started coverage on Change Healthcare in a research note on Wednesday, November 27th. They set an “outperform” rating and a $16.00 price objective for the company. Finally, Zacks Investment Research upgraded Change Healthcare from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $18.59.

Shares of NASDAQ:CHNG opened at $13.38 on Tuesday. The company’s 50 day moving average is $13.07. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.01. Change Healthcare has a 12-month low of $11.24 and a 12-month high of $15.50.

Change Healthcare (NASDAQ:CHNG) last announced its quarterly earnings data on Thursday, November 14th. The company reported $0.27 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.27. The company had revenue of $795.81 million for the quarter, compared to the consensus estimate of $776.18 million. The company’s revenue was down .5% on a year-over-year basis. On average, sell-side analysts expect that Change Healthcare will post 1.42 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the business. Metropolitan Life Insurance Co NY bought a new position in Change Healthcare in the 3rd quarter worth approximately $29,000. Daiwa Securities Group Inc. bought a new position in Change Healthcare in the 2nd quarter worth approximately $146,000. Rice Hall James & Associates LLC bought a new position in Change Healthcare in the 3rd quarter worth approximately $146,000. Jefferies Group LLC bought a new position in Change Healthcare in the 2nd quarter worth approximately $219,000. Finally, KCL Capital L.P. bought a new position in Change Healthcare in the 2nd quarter worth approximately $219,000. Institutional investors and hedge funds own 92.65% of the company’s stock.

About Change Healthcare

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Change Healthcare (NASDAQ:CHNG)

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