Brown Brothers Harriman & Co. Trims Stock Position in Change Healthcare Inc. (NASDAQ:CHNG)

Brown Brothers Harriman & Co. cut its stake in shares of Change Healthcare Inc. (NASDAQ:CHNG) by 20.9% during the second quarter, HoldingsChannel.com reports. The fund owned 36,010 shares of the company’s stock after selling 9,490 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Change Healthcare were worth $830,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Jump Financial LLC purchased a new position in Change Healthcare during the second quarter valued at approximately $265,000. LPL Financial LLC purchased a new position in Change Healthcare during the second quarter valued at approximately $581,000. Stifel Financial Corp increased its holdings in Change Healthcare by 67.4% during the second quarter. Stifel Financial Corp now owns 31,338 shares of the company’s stock valued at $722,000 after buying an additional 12,612 shares during the period. Berry Street Capital Management LLP increased its holdings in Change Healthcare by 300.0% during the second quarter. Berry Street Capital Management LLP now owns 600,000 shares of the company’s stock valued at $13,824,000 after buying an additional 450,000 shares during the period. Finally, Clifford Capital Partners LLC increased its holdings in Change Healthcare by 5.9% during the second quarter. Clifford Capital Partners LLC now owns 95,619 shares of the company’s stock valued at $2,203,000 after buying an additional 5,301 shares during the period. 93.84% of the stock is currently owned by institutional investors and hedge funds.

CHNG stock opened at $20.49 on Thursday. The stock has a market capitalization of $6.37 billion, a P/E ratio of 15.76, a P/E/G ratio of 7.88 and a beta of 1.45. The firm has a 50-day simple moving average of $21.44 and a 200-day simple moving average of $22.31. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.45. Change Healthcare Inc. has a 52 week low of $13.79 and a 52 week high of $24.21.

Change Healthcare (NASDAQ:CHNG) last posted its quarterly earnings results on Wednesday, August 4th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.03). The business had revenue of $867.86 million for the quarter, compared to analyst estimates of $857.57 million. Change Healthcare had a positive return on equity of 12.99% and a negative net margin of 1.75%. The business’s revenue was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 earnings per share. On average, analysts expect that Change Healthcare Inc. will post 1.31 earnings per share for the current year.

Separately, Deutsche Bank Aktiengesellschaft raised shares of Change Healthcare to a “buy” rating and set a $25.75 price objective on the stock in a report on Tuesday, August 31st. Fourteen analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Change Healthcare has a consensus rating of “Hold” and an average price target of $24.06.

Change Healthcare Company Profile

Change Healthcare, Inc engages in the development of healthcare technology platform that offers data and analytics-driven solutions. It operates through the following segments: Software and Analytics, Network Solutions, and Technology-Enabled Services. The Software and Analytics segment provides solutions for revenue cycle management, provider network management, payment accuracy, value-based payments, clinical decision support, consumer engagement, risk adjustment and quality performance, and imaging and clinical workflow.

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

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