Change Healthcare Inc. (CHNG) – The -7.82% Downside Potential Remains

Change Healthcare Inc. (NASDAQ: CHNG) is 27.18% higher on its value in year-to-date trading and has touched a low of $6.18 and a high of $19.08 in the current 52-week trading range. The CHNG stock was last observed hovering at around $18.24 in the last trading session, with the day’s gains setting it 5.48% off its average median price target of $22.00 for the next 12 months. It is also 8.77% off the consensus price target high of $26.00 offered by 19 analysts, but current levels are -31.78% lower than the price target low of $18.00 for the same period.

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Currently trading at $23.72, the stock is 29.85% and 39.49% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 86.72 million and changing 30.04% at the moment leaves the stock 77.16% off its SMA200. CHNG registered 51.57% gain for a year compared to 6-month gain of 126.55%. The firm has a 50-day simple moving average (SMA 50) of $17.84 and a 200-day simple moving average (SMA200) of $14.47.

The stock witnessed a 33.11% loss in the last 1 month and extending the period to 3 months gives it a 59.95%, and is 30.54% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.37% over the week and 3.00% over the month.

Change Healthcare Inc. (CHNG) has around 15000 employees, a market worth around $7.19B and $3.10B in sales. Fwd P/E is 14.52. Profit margin for the company is -5.80%. Distance from 52-week low is 283.82% and 24.32% from its 52-week high. The company has generated returns on investments over the last 12 months (3.20%).

Change Healthcare Inc. (CHNG) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Change Healthcare Inc. (CHNG) is a “Overweight”. 19 analysts offering their recommendations for the stock have an average rating of 1.60, where 7 rate it as a Hold and 0 think it is a “Overweight”. 12 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Change Healthcare Inc. quarterly earnings per share for the current quarter are estimated at $0.31 with sales reaching $783.77M over the same period.The EPS is expected to shrink by -101.30% this year, but quarterly earnings will post -7.20% year-over-year.

Change Healthcare Inc. (CHNG) Top Institutional Holders

333 institutions hold shares in Change Healthcare Inc. (CHNG), with 1.06M shares held by insiders accounting for 0.35% while institutional investors hold 102.62% of the company’s shares. The shares outstanding are 320.64M, and float is at 303.39M with Short Float at 4.03%. Institutions hold 102.27% of the Float.

The top institutional shareholder in the company is Blackstone Group Inc. with over 59.62 million shares valued at $865.09 million. The investor’s holdings represent 19.58% of the CHNG Shares outstanding. As of Sep 29, 2020, the second largest holder is Vanguard Group, Inc. (The) with 19.48 million shares valued at $282.71 million to account for 6.40% of the shares outstanding. The other top investors are Clarkston Capital Partners LLC which holds 18.61 million shares representing 6.11% and valued at over $270.04 million, while Boston Partners holds 4.93% of the shares totaling 15.02 million with a market value of $217.95 million.

Change Healthcare Inc. (CHNG) Insider Activity

The most recent transaction is an insider purchase by Eliasson Fredrik J, the company’s EVP & CFO. SEC filings show that Eliasson Fredrik J bought 100,000 shares of the company’s common stock on Jun 10 at a price of $12.00 per share for a total of $1.2 million. Following the purchase, the insider now owns 0.14 million shares.

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