Change Healthcare (NASDAQ:CHNG) Given a $27.75 Price Target at Cowen

Cowen set a $27.75 price objective on Change Healthcare (NASDAQ:CHNG – Get Rating) in a research note published on Monday morning, Stock Target Advisor reports.

Several other analysts have also recently commented on the company. Piper Sandler reiterated a buy rating and set a $26.00 price target on shares of Change Healthcare in a research report on Tuesday, April 26th. Citigroup boosted their price objective on Change Healthcare from $25.75 to $27.75 and gave the stock a buy rating in a research note on Wednesday, June 1st. William Blair reissued a market perform rating on shares of Change Healthcare in a research note on Friday, June 3rd. Credit Suisse Group boosted their price objective on Change Healthcare from $25.75 to $27.75 and gave the stock a neutral rating in a research note on Tuesday, May 31st. Finally, SVB Leerink reissued an outperform rating on shares of Change Healthcare in a research note on Thursday, May 26th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $27.00.

Change Healthcare stock opened at $23.40 on Monday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.22 and a quick ratio of 1.22. Change Healthcare has a 12 month low of $18.97 and a 12 month high of $24.12. The stock has a market capitalization of $7.45 billion, a PE ratio of -129.99, a price-to-earnings-growth ratio of 1.95 and a beta of 1.12. The business has a 50 day simple moving average of $23.37 and a 200-day simple moving average of $21.88.

Change Healthcare (NASDAQ:CHNG – Get Rating) last issued its quarterly earnings results on Wednesday, May 25th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). Change Healthcare had a positive return on equity of 12.91% and a negative net margin of 1.65%. The firm had revenue of $920.13 million for the quarter, compared to analysts’ expectations of $902.86 million. During the same quarter in the previous year, the firm posted $0.36 earnings per share. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, equities research analysts anticipate that Change Healthcare will post 1.48 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Offit Capital Advisors LLC lifted its stake in shares of Change Healthcare by 4.5% in the 1st quarter. Offit Capital Advisors LLC now owns 75,616 shares of the company’s stock valued at $1,648,000 after purchasing an additional 3,267 shares during the last quarter. American Trust acquired a new position in Change Healthcare during the 1st quarter worth about $226,000. The Manufacturers Life Insurance Company lifted its stake in Change Healthcare by 29.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 3,108,416 shares of the company’s stock worth $67,763,000 after acquiring an additional 704,461 shares in the last quarter. Toroso Investments LLC acquired a new position in Change Healthcare during the 1st quarter worth about $228,000. Finally, Gabelli Funds LLC lifted its stake in Change Healthcare by 8.3% during the 1st quarter. Gabelli Funds LLC now owns 874,098 shares of the company’s stock worth $19,055,000 after acquiring an additional 66,850 shares in the last quarter. 96.09% of the stock is currently owned by institutional investors and hedge funds.

About Change Healthcare (Get Rating)

Change Healthcare Inc, an independent healthcare technology company, 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.

Read More