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

Change Healthcare (NASDAQ:CHNG) released its quarterly earnings results on Tuesday. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.18, Fidelity Earnings reports. The firm had revenue of $814.00 million during the quarter, compared to analyst estimates of $795.66 million. The business’s quarterly revenue was down 1.1% on a year-over-year basis.

NASDAQ:CHNG traded up $0.60 during trading hours on Thursday, reaching $13.76. 5,220 shares of the company traded hands, compared to its average volume of 1,179,102. Change Healthcare has a 1-year low of $12.04 and a 1-year high of $15.30.

In related news, CFO Fredrik J. Eliasson bought 30,000 shares of the stock in a transaction on Monday, July 1st. The shares were purchased 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 SEC, which is accessible through this hyperlink. Also, Director Bansi Nagji purchased 5,000 shares of Change Healthcare stock in a transaction on Monday, July 1st. The shares were acquired at an average cost of $13.00 per share, for a total transaction of $65,000.00. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 36,000 shares of company stock worth $468,000. 20.77% of the stock is owned by insiders.



A number of research firms recently weighed in on CHNG. SunTrust Banks began coverage on Change Healthcare in a report on Monday, July 22nd. They issued a “buy” rating and a $21.00 price target on the stock. Barclays began coverage on Change Healthcare in a report on Monday, July 22nd. They issued an “overweight” rating and a $18.00 price target on the stock. Wells Fargo & Co began coverage on Change Healthcare in a report on Monday, July 22nd. They issued a “market perform” rating on the stock. Cowen began coverage on Change Healthcare in a report on Monday, July 22nd. They issued an “outperform” rating and a $17.00 price target on the stock. Finally, Leerink Swann began coverage on Change Healthcare in a report on Monday, July 22nd. They issued an “outperform” rating and a $20.00 price target on the stock. One research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average 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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