Piper Jaffray Companies Weighs in on Change Healthcare Inc.’s Q2 2020 Earnings (NASDAQ:CHNG)

Change Healthcare Inc. (NASDAQ:CHNG) – Investment analysts at Piper Jaffray Companies decreased their Q2 2020 earnings estimates for Change Healthcare in a research note issued to investors on Wednesday, August 14th. Piper Jaffray Companies analyst S. Wieland now expects that the company will post earnings per share of $0.27 for the quarter, down from their prior estimate of $0.29. Piper Jaffray Companies has a “Overweight” rating and a $18.50 price target on the stock. Piper Jaffray Companies also issued estimates for Change Healthcare’s FY2020 earnings at $1.50 EPS, Q1 2021 earnings at $0.37 EPS and FY2021 earnings at $1.50 EPS.

CHNG has been the subject of a number of other reports. Credit Suisse Group initiated coverage on shares of Change Healthcare in a research note on Monday, July 22nd. They issued an “outperform” rating and a $18.00 target price for the company. Cantor Fitzgerald initiated coverage on shares of Change Healthcare in a research note on Monday, July 22nd. They issued an “overweight” rating and a $20.00 target price for the company. Svb Leerink initiated coverage on shares of Change Healthcare in a research note on Monday, July 22nd. They issued an “outperform” rating and a $20.00 target price for the company. Guggenheim started coverage on shares of Change Healthcare in a research note on Monday, July 22nd. They issued a “buy” rating and a $17.00 target price for the company. Finally, Bank of America started coverage on shares of Change Healthcare in a research note on Monday, July 22nd. They set a “buy” rating and a $19.00 price target for the company. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $19.04.

Shares of NASDAQ CHNG opened at $14.10 on Thursday. Change Healthcare has a 1-year low of $12.04 and a 1-year high of $15.30.

Change Healthcare (NASDAQ:CHNG) last announced its earnings results on Tuesday, August 13th. The company reported $0.56 earnings per share for the quarter, topping the Zacks’ 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. The firm’s revenue was down 1.1% compared to the same quarter last year.

In other news, Director Bansi Nagji bought 5,000 shares of the stock in a transaction on Monday, July 1st. The stock was purchased at an average price of $13.00 per share, with a total value of $65,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Fredrik J. Eliasson bought 30,000 shares of the stock in a transaction on Monday, July 1st. The stock was purchased at an average cost of $13.00 per share, with a total value of $390,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 36,000 shares of company stock valued at $468,000. 20.77% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the business. Daiwa Securities Group Inc. bought a new stake in Change Healthcare in the second quarter valued at approximately $146,000. Bank of New York Mellon Corp bought a new stake in Change Healthcare in the second quarter valued at approximately $1,580,000. Jennison Associates LLC bought a new stake in Change Healthcare in the second quarter valued at approximately $6,570,000. Artal Group S.A. bought a new stake in Change Healthcare in the second quarter valued at approximately $10,950,000. Finally, Russell Investments Group Ltd. bought a new stake in Change Healthcare in the second quarter valued at approximately $6,063,000. 0.47% 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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Earnings History and Estimates for Change Healthcare (NASDAQ:CHNG)

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