Change Healthcare (NASDAQ:CHNG) Releases Earnings Results, Misses Expectations By $0.02 EPS

Change Healthcare (NASDAQ:CHNGGet Rating) released its earnings results on Wednesday. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02), MarketWatch Earnings reports. The firm had revenue of $920.13 million for the quarter, compared to analyst estimates of $902.86 million. Change Healthcare had a positive return on equity of 12.97% and a negative net margin of 2.27%. Change Healthcare’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.36 earnings per share.

Change Healthcare stock opened at $22.95 on Thursday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.11 and a current ratio of 1.11. Change Healthcare has a 52 week low of $18.97 and a 52 week high of $23.99. The firm has a market cap of $7.16 billion, a P/E ratio of -95.62, a P/E/G ratio of 1.62 and a beta of 1.12. The business’s fifty day moving average is $23.01 and its two-hundred day moving average is $21.50.

CHNG has been the subject of a number of research reports. Piper Sandler restated a “buy” rating and set a $26.00 price objective on shares of Change Healthcare in a research report on Tuesday, April 26th. Credit Suisse Group began coverage on Change Healthcare in a research note on Friday, April 1st. They issued a “neutral” rating and a $25.75 price target for the company. Finally, Citigroup raised Change Healthcare from a “neutral” rating to a “buy” rating and set a $25.75 price target for the company in a research note on Friday, February 4th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $25.05.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Change Healthcare by 1.1% during the first quarter. Vanguard Group Inc. now owns 21,658,561 shares of the company’s stock worth $472,156,000 after buying an additional 234,330 shares in the last quarter. BlackRock Inc. lifted its position in shares of Change Healthcare by 3.8% in the first quarter. BlackRock Inc. now owns 10,443,695 shares of the company’s stock valued at $227,673,000 after buying an additional 383,042 shares during the last quarter. State Street Corp lifted its position in shares of Change Healthcare by 4.8% in the first quarter. State Street Corp now owns 3,951,009 shares of the company’s stock valued at $86,132,000 after buying an additional 181,681 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Change Healthcare by 29.3% in the first quarter. The Manufacturers Life Insurance Company now owns 3,108,416 shares of the company’s stock valued at $67,763,000 after buying an additional 704,461 shares during the last quarter. Finally, Morgan Stanley increased its stake in shares of Change Healthcare by 8.0% during the second quarter. Morgan Stanley now owns 3,051,467 shares of the company’s stock worth $70,306,000 after purchasing an additional 225,710 shares during the period. Institutional investors and hedge funds own 96.09% of the company’s stock.

Change Healthcare Company Profile (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.

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Earnings History for Change Healthcare (NASDAQ:CHNG)

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