Change Healthcare (NASDAQ:CHNG) Issues Quarterly Earnings Results, Beats Expectations By $0.18 EPS

Change Healthcare (NASDAQ:CHNG) posted its quarterly earnings results on Tuesday. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.18, Fidelity Earnings reports. The company had revenue of $814.00 million during the quarter, compared to analyst estimates of $795.66 million. The firm’s revenue was down 1.1% compared to the same quarter last year.

Shares of NASDAQ:CHNG opened at $13.04 on Wednesday. Change Healthcare has a 1-year low of $12.04 and a 1-year high of $15.30.

In other news, CFO Fredrik J. Eliasson purchased 30,000 shares of the stock in a transaction dated Monday, July 1st. The stock was acquired at an average price of $13.00 per share, for a total transaction of $390,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bansi Nagji purchased 5,000 shares of the stock in a transaction dated Monday, July 1st. The shares were purchased 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 have acquired 36,000 shares of company stock worth $468,000 over the last three months.

Several analysts recently issued reports on the stock. Citigroup assumed coverage on shares of Change Healthcare in a report on Monday, July 22nd. They issued a “buy” rating and a $22.00 price target on the stock. Cowen assumed coverage on shares of Change Healthcare in a report on Monday, July 22nd. They issued an “outperform” rating and a $17.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on shares of Change Healthcare in a report on Monday, July 22nd. They issued an “overweight” rating and a $18.00 price target on the stock. William Blair began coverage on shares of Change Healthcare in a report on Monday, July 22nd. They issued an “outperform” rating on the stock. Finally, SunTrust Banks began coverage on shares of Change Healthcare in a report on Monday, July 22nd. They set a “buy” rating and a $21.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $19.04.

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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