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.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC bought a new position in Change Healthcare during the third quarter worth about $38,000. Harvest Fund Management Co. Ltd bought a new position in Change Healthcare during the third quarter worth about $48,000. American International Group Inc. bought a new position in Change Healthcare during the third quarter worth about $80,000. Exane Derivatives bought a new position in Change Healthcare during the third quarter worth about $92,000. Finally, Parkside Financial Bank & Trust bought a new position in Change Healthcare during the third quarter worth about $95,000.

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.

CHNG has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft 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, November 9th. Piper Sandler lifted their target price on shares of Change Healthcare from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. 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, 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. Two research analysts have rated the stock with a sell rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. Change Healthcare currently has an average rating of “Buy” and a consensus price target of $17.56.

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.

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

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