Change Healthcare Inc.’s (NASDAQ:CHNG) Quiet Period Will End on August 6th

Change Healthcare’s (NASDAQ:CHNG) quiet period will end on Tuesday, August 6th. Change Healthcare had issued 42,857,142 shares in its initial public offering on June 27th. The total size of the offering was $557,142,846 based on an initial share price of $13.00. During Change Healthcare’s quiet period, insiders and underwriters that worked on the IPO are restricted from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

A number of equities research analysts recently issued reports on the company. Wells Fargo & Co assumed coverage on Change Healthcare in a research note on Monday, July 22nd. They issued a “market perform” rating on the stock. Barclays assumed coverage on Change Healthcare in a research note on Monday, July 22nd. They issued an “overweight” rating and a $18.00 target price on the stock. William Blair assumed coverage on Change Healthcare in a research note on Monday, July 22nd. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. assumed coverage on Change Healthcare in a research note on Monday, July 22nd. They issued an “overweight” rating and a $18.00 target price on the stock. Finally, Citigroup assumed coverage on Change Healthcare in a research note on Monday, July 22nd. They issued a “buy” rating and a $22.00 target price on the stock. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Change Healthcare currently has a consensus rating of “Buy” and a consensus target price of $19.04.

Shares of CHNG opened at $13.14 on Tuesday. Change Healthcare has a fifty-two week low of $12.79 and a fifty-two week high of $15.30.

In other Change Healthcare news, Director Bansi Nagji purchased 5,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was bought at an average cost of $13.00 per share, for a total transaction of $65,000.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Fredrik J. Eliasson purchased 30,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was acquired at an average price of $13.00 per share, with a total value of $390,000.00. The disclosure for this purchase can be found here. Insiders acquired a total of 36,000 shares of company stock valued at $468,000 over the last quarter.

A number of institutional investors and hedge funds have recently modified their holdings of CHNG. Daiwa Securities Group Inc. acquired a new position in Change Healthcare in the 2nd quarter valued at $146,000. SG Americas Securities LLC acquired a new stake in shares of Change Healthcare during the 2nd quarter worth $337,000. Janus Henderson Group PLC acquired a new stake in shares of Change Healthcare during the 2nd quarter worth $2,933,000. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of Change Healthcare during the 2nd quarter worth $1,024,000. Institutional investors own 0.04% of the company’s stock.

Change Healthcare Company Profile

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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