Camber Capital Management LP recently announced the acquisition of new stake in Change Healthcare Inc. (NASDAQ:CHNG). The institutional investor has increased its shareholding in the Healthcare company by 4.40% to 16.6 million shares with purchase of 0.7 million shares. This fresh investment now brings its stake to 5.47% valued currently at $193.56 million. In addition, Eminence Capital LP raised its holdings by 6.45 million to 15.99 million shares. And Clarkston Capital Partners LLC has lifted its position by 5.72% or 0.86 million shares – to 15.86 million shares.
With over 6.67 million Change Healthcare Inc. (CHNG) shares trading Tuesday and a closing price of $14.03 on the day, the dollar volume was approximately $93.65 million. The shares have shown a positive weekly performance of 7.84% and its price on 09/01/20 lost nearly -0.85%. Currently, there are 320.05M common shares owned by the public and among those 288.11M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 21 analysts who have offered their price forecasts for CHNG have a consensus price objective of $17.16. The analysts have set the share’s price value over the next 12 months at a high of $22.00 and a low of $14.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Change Healthcare Inc. stock is 1.70 for the next 12 months. The average price target is 18.52% above its last price level and an upside to the estimated low will see the stock lose -0.21% over that period. But an upside of 36.23% will see the stock hit the forecast high price target while mean target price for the stock is $17.00.
Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Change Healthcare Inc. are Vanguard Total Stock Market Index, Vanguard Small Cap Index Fund, and Clarkston Partners Fund (The). Vanguard Total Stock Market Index owns 6.31 million shares of the company’s stock, all valued at over $73.62 million. The company sold 80344.0 shares recently to bring their total holdings to about 2.08% of the shares outstanding. Vanguard Small Cap Index Fund sold 33320.0 shares to see its total holdings shrink to 5.62 million shares valued at over $65.53 million and representing 1.85% of the shares outstanding. Clarkston Partners Fund (The) bought 0.4 million shares to bring its total holdings to over 5.24 million shares at a value of $61.1 million. Clarkston Partners Fund (The) now owns shares totaling to 1.73% of the shares outstanding.
Shares of Change Healthcare Inc. (NASDAQ: CHNG) opened at $14.18, up $0.03 from a prior closing price of $14.15. However, the script later closed the day at $14.03, down -0.85%. The company’s stock has a 5-day price change of 7.84% and 9.52% over the past three months. CHNG shares are trading -14.40% year to date (YTD), with the 12-month market performance up to 1.59% higher. It has a 12-month low price of $6.18 and touched a high of $17.57 over the same period. Currently, 6.67 million shares have been traded, compared to an average intraday trading volume of 3.97 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 7.86%, 18.06%, and 10.50% respectively.
Institutional ownership of Change Healthcare Inc. (NASDAQ: CHNG) shares accounts for 58.14% of the company’s 320.05M shares outstanding. Mutual fund holders own 25.80%, while other institutional holders and individual stakeholders account for 55.09% and 0.68% respectively.
It has a market capitalization of $4.16B. The earnings-per-share (ttm) stands at -$0.42. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.22% over the week and 3.22% over the month.
Analysts forecast that Change Healthcare Inc. (CHNG) will achieve an EPS of $0.22 for the current quarter, $0.29 for the next quarter and $1.52 for 2022. The lowest estimate earnings-per-share for the quarter is $0.2 while analysts give the company a high EPS estimate of $0.24. Comparatively, EPS for the current quarter was $0.27 a year ago. Earnings per share for the fiscal year are expected to decrease by -101.30%, and 34.19% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 21 brokerage firm advisors rate Change Healthcare Inc. (CHNG) as a “Strong Buy” at a consensus score of 1.70. Specifically, 18 Wall Street analysts polled rate the stock as a buy, while 2 of the 21 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CHNG, a number of firms have released research notes about the stock. Citigroup stated their Buy rating for the stock in a research note on July 14, 2020, with the firm’s price target at $15. SVB Leerink coverage for the Change Healthcare Inc. (CHNG) stock in a research note released on April 13, 2020 offered a Outperform rating with a price target of. Raymond James was of a view on March 18, 2020 that the stock is Strong Buy, while Wells Fargo gave the stock Overweight rating on March 10, 2020, issuing a price target of $19. Raymond James on their part issued Outperform rating on December 20, 2019.