Change Healthcare Inc. (NASDAQ:CHNG) CFO Acquires $549,200.00 in Stock

Change Healthcare Inc. (NASDAQ:CHNG) CFO Fredrik J. Eliasson bought 40,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of $13.73 per share, with a total value of $549,200.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

CHNG opened at $14.23 on Friday. Change Healthcare Inc. has a 12 month low of $12.04 and a 12 month high of $15.50. The stock has a fifty day moving average of $14.10.

Change Healthcare (NASDAQ:CHNG) last released its quarterly earnings results on Tuesday, August 13th. The company reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.18. The company had revenue of $814.00 million during the quarter, compared to the consensus estimate of $795.66 million. Change Healthcare’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, research analysts anticipate that Change Healthcare Inc. will post 1.51 earnings per share for the current year.

A number of brokerages have weighed in on CHNG. Piper Jaffray Companies began coverage on Change Healthcare in a research report on Monday, July 22nd. They set an “overweight” rating and a $18.50 target price for the company. William Blair began coverage on Change Healthcare in a research report on Monday, July 22nd. They set an “outperform” rating for the company. SunTrust Banks began coverage on Change Healthcare in a research report on Monday, July 22nd. They set a “buy” rating and a $21.00 target price for the company. Bank of America began coverage on Change Healthcare in a research report on Monday, July 22nd. They set a “buy” rating and a $19.00 target price for the company. Finally, Robert W. Baird began coverage on Change Healthcare in a research report on Monday, July 22nd. They set an “outperform” rating and a $18.00 target price for the company. One research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $19.04.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. KCL Capital L.P. purchased a new stake in Change Healthcare during the 2nd quarter valued at about $219,000. Magnetar Financial LLC purchased a new stake in Change Healthcare during the 2nd quarter valued at about $25,550,000. York Capital Management Global Advisors LLC purchased a new stake in Change Healthcare during the 2nd quarter valued at about $22,068,000. Citadel Advisors LLC purchased a new stake in Change Healthcare during the 2nd quarter valued at about $29,897,000. Finally, Point72 Hong Kong Ltd purchased a new stake in Change Healthcare during the 2nd quarter valued at about $879,000. 11.36% of the stock is owned by hedge funds and other institutional investors.

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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