Change Healthcare Inc. (NASDAQ:CHNG) CEO Purchases $1,062,750.00 in Stock

Change Healthcare Inc. (NASDAQ:CHNG) CEO Crescenzo Neil E. De bought 75,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was purchased at an average cost of $14.17 per share, for a total transaction of $1,062,750.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

NASDAQ CHNG traded up $0.47 on Monday, hitting $15.20. 1,688,000 shares of the company were exchanged, compared to its average volume of 1,684,058. The firm’s 50 day simple moving average is $14.05. Change Healthcare Inc. has a 1-year low of $12.04 and a 1-year high of $15.38.

Change Healthcare (NASDAQ:CHNG) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.18. The company had revenue of $814.00 million for the quarter, compared to analyst estimates of $795.66 million. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, research analysts predict that Change Healthcare Inc. will post 1.55 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of CHNG. Blackstone Group Inc acquired a new position in Change Healthcare during the 2nd quarter valued at about $870,456,000. Point72 Asset Management L.P. acquired a new position in Change Healthcare during the 2nd quarter valued at about $35,144,000. JPMorgan Chase & Co. acquired a new position in Change Healthcare during the 2nd quarter valued at about $35,483,000. Citadel Advisors LLC acquired a new position in Change Healthcare during the 2nd quarter valued at about $29,897,000. Finally, Magnetar Financial LLC acquired a new position in Change Healthcare during the 2nd quarter valued at about $25,550,000. Institutional investors and hedge funds own 11.36% of the company’s stock.

Several equities research analysts have recently weighed in on the stock. Leerink Swann assumed coverage on shares of Change Healthcare in a report on Monday, July 22nd. They issued an “outperform” rating and a $20.00 target price on the stock. Credit Suisse Group started coverage on shares of Change Healthcare in a report on Monday, July 22nd. They issued an “outperform” rating and a $18.00 target price on the stock. Barclays started coverage on shares of Change Healthcare in a research report on Monday, July 22nd. They set an “overweight” rating and a $18.00 price target on the stock. Svb Leerink started coverage on shares of Change Healthcare in a research report on Monday, July 22nd. They set an “outperform” rating and a $20.00 price target on the stock. Finally, Goldman Sachs Group started coverage on shares of Change Healthcare in a research report on Monday, July 22nd. They set a “buy” rating and a $20.00 price target on the stock. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price 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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