Kovitz Investment Group Partners LLC Buys New Shares in Change Healthcare Inc. (NASDAQ:CHNG)

Kovitz Investment Group Partners LLC bought a new stake in Change Healthcare Inc. (NASDAQ:CHNG) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 48,219 shares of the company’s stock, valued at approximately $700,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. bought a new position in Change Healthcare during the third quarter worth about $155,691,000. Raymond James & Associates bought a new position in Change Healthcare during the third quarter worth about $41,462,000. Schwartz Investment Counsel Inc. bought a new position in Change Healthcare during the third quarter worth about $35,002,000. The Manufacturers Life Insurance Company bought a new position in Change Healthcare during the third quarter worth about $34,381,000. Finally, New York State Common Retirement Fund bought a new position in Change Healthcare during the third quarter worth about $22,836,000.

CHNG has been the subject of a number of research analyst reports. Cantor Fitzgerald lifted their target price on shares of Change Healthcare from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, November 5th. CSFB lifted their target price on shares of Change Healthcare from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Monday, September 28th. Credit Suisse Group lifted their target price on shares of Change Healthcare from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Monday, November 9th. Citigroup lifted their target price on shares of Change Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, September 14th. Finally, ValuEngine cut shares of Change Healthcare from a “hold” rating to a “sell” rating in a research note on Friday, August 7th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Change Healthcare currently has a consensus rating of “Buy” and a consensus price target of $17.56.

CHNG opened at $17.19 on Friday. The company has a fifty day moving average price of $15.25 and a two-hundred day moving average price of $13.04. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.18 and a current ratio of 1.18. Change Healthcare Inc. has a 52 week low of $6.18 and a 52 week high of $17.57. The firm has a market capitalization of $5.23 billion, a PE ratio of -31.25, a P/E/G ratio of 7.32 and a beta of 1.64.

Change Healthcare (NASDAQ:CHNG) last released its earnings results on Monday, November 9th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.07. Change Healthcare had a negative net margin of 5.76% and a positive return on equity of 13.43%. The firm had revenue of $755.94 million during the quarter, compared to analyst estimates of $745.02 million. During the same quarter in the previous year, the business earned $0.27 EPS. The business’s quarterly revenue was down 5.0% compared to the same quarter last year. Equities analysts forecast that Change Healthcare Inc. will post 1.14 EPS for the current year.

About Change Healthcare

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

Further Reading: Calculating net profit and net profit margin ratio

Institutional Ownership by Quarter for Change Healthcare (NASDAQ:CHNG)

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