Change Healthcare (NASDAQ:CHNG) Stock Price Up 9.2%

Change Healthcare Inc. (NASDAQ:CHNG) rose 9.2% on Thursday . The company traded as high as $13.44 and last traded at $14.37, approximately 64,114 shares changed hands during trading. A decline of 95% from the average daily volume of 1,179,102 shares. The stock had previously closed at $13.16.

CHNG has been the subject of a number of analyst reports. Robert W. Baird initiated coverage on shares of Change Healthcare in a research note on Monday, July 22nd. They set an “outperform” rating and a $18.00 target price for the company. Leerink Swann initiated coverage on shares of Change Healthcare in a research note on Monday, July 22nd. They set an “outperform” rating and a $20.00 target price for the company. Goldman Sachs Group initiated coverage on shares of Change Healthcare in a research note on Monday, July 22nd. They set a “buy” rating and a $20.00 target price for the company. Wells Fargo & Co initiated coverage on shares of Change Healthcare in a research note on Monday, July 22nd. They set a “market perform” rating for the company. Finally, Svb Leerink initiated coverage on shares of Change Healthcare in a research note on Monday, July 22nd. They set an “outperform” rating and a $20.00 target price for the company. One equities research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Change Healthcare currently has an average rating of “Buy” and a consensus price target of $19.04.

Change Healthcare (NASDAQ:CHNG) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.18. The company had revenue of $814.00 million during the quarter, compared to analyst estimates of $795.66 million. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. Equities research analysts anticipate that Change Healthcare Inc. will post 1.58 EPS for the current year.

In related news, CFO Fredrik J. Eliasson purchased 30,000 shares of Change Healthcare stock in a transaction on Monday, July 1st. The stock was acquired at an average cost of $13.00 per share, for a total transaction of $390,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bansi Nagji purchased 5,000 shares of Change Healthcare stock in a transaction on Monday, July 1st. The stock was bought at an average price of $13.00 per share, with a total value of $65,000.00. The disclosure for this purchase can be found here. Insiders acquired 36,000 shares of company stock valued at $468,000 over the last 90 days. Corporate insiders own 20.77% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Daiwa Securities Group Inc. acquired a new position in shares of Change Healthcare during the second quarter valued at about $146,000. Jefferies Group LLC acquired a new position in shares of Change Healthcare during the second quarter valued at about $219,000. GSA Capital Partners LLP acquired a new position in shares of Change Healthcare during the second quarter valued at about $248,000. SG Americas Securities LLC acquired a new position in shares of Change Healthcare during the second quarter valued at about $337,000. Finally, AMP Capital Investors Ltd acquired a new position in shares of Change Healthcare during the second quarter valued at about $529,000. Hedge funds and other institutional investors own 0.47% of the company’s stock.

About Change Healthcare (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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