Citigroup lowered shares of Change Healthcare (NASDAQ:CHNG – Get Rating) from a buy rating to a neutral rating in a research report report published on Tuesday morning, MarketBeat reports. They currently have $27.75 price objective on the stock.
CHNG has been the topic of several other reports. Credit Suisse Group raised their price objective on Change Healthcare from $25.75 to $27.75 and gave the stock a neutral rating in a report on Tuesday, May 31st. Piper Sandler downgraded Change Healthcare from an overweight rating to a neutral rating and boosted their target price for the stock from $26.00 to $27.75 in a research note on Tuesday. Cowen set a $27.75 target price on Change Healthcare in a research note on Monday, June 20th. William Blair restated a market perform rating on shares of Change Healthcare in a research note on Friday, June 3rd. Finally, SVB Leerink restated an outperform rating on shares of Change Healthcare in a research note on Thursday, May 26th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $27.75.
Change Healthcare Stock Up 0.2 %
CHNG stock opened at $27.26 on Tuesday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.23 and a current ratio of 1.23. The business’s 50-day moving average is $24.75 and its two-hundred day moving average is $23.61. The company has a market cap of $8.95 billion, a price-to-earnings ratio of -113.58, a P/E/G ratio of 3.30 and a beta of 1.02. Change Healthcare has a fifty-two week low of $18.97 and a fifty-two week high of $27.34.
Hedge Funds Weigh In On Change Healthcare
Several institutional investors and hedge funds have recently modified their holdings of CHNG. First Horizon Advisors Inc. purchased a new position in shares of Change Healthcare in the 2nd quarter valued at about $33,000. Meeder Asset Management Inc. purchased a new position in shares of Change Healthcare in the 1st quarter valued at about $36,000. Captrust Financial Advisors increased its stake in shares of Change Healthcare by 65.5% in the 2nd quarter. Captrust Financial Advisors now owns 3,053 shares of the company’s stock valued at $70,000 after purchasing an additional 1,208 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Change Healthcare in the 2nd quarter valued at about $82,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in shares of Change Healthcare in the 1st quarter valued at about $90,000. Hedge funds and other institutional investors own 91.47% of the company’s stock.
About Change Healthcare
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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