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.
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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