Change Healthcare (NASDAQ:CHNG) Posts Earnings Results, Beats Estimates By $0.18 EPS

Change Healthcare (NASDAQ:CHNG) issued its quarterly earnings results on Tuesday. The company reported $0.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.18, Fidelity Earnings reports. The company had revenue of $814.00 million during the quarter, compared to analysts’ expectations of $795.66 million. Change Healthcare’s quarterly revenue was down 1.1% on a year-over-year basis.

Shares of Change Healthcare stock opened at $13.03 on Wednesday. Change Healthcare has a 52-week low of $12.04 and a 52-week high of $15.30.

A number of brokerages recently weighed in on CHNG. Cantor Fitzgerald began coverage on shares of Change Healthcare in a report on Monday, July 22nd. They issued an “overweight” rating and a $20.00 price target on the stock. Robert W. Baird began coverage on shares of Change Healthcare in a report on Monday, July 22nd. They issued an “outperform” rating and a $18.00 price target on the stock. JPMorgan Chase & Co. began coverage on shares of Change Healthcare in a report on Monday, July 22nd. They issued an “overweight” rating and a $18.00 price target on the stock. Goldman Sachs Group began coverage on shares of Change Healthcare in a report on Monday, July 22nd. They issued a “buy” rating and a $20.00 price target on the stock. Finally, Leerink Swann began coverage on shares of Change Healthcare in a report on Monday, July 22nd. They issued an “outperform” rating and a $20.00 price target on the stock. One research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $19.04.

In related news, Director Bansi Nagji purchased 5,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were purchased at an average cost of $13.00 per share, for a total transaction of $65,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Fredrik J. Eliasson purchased 30,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were bought at an average price of $13.00 per share, for a total transaction of $390,000.00. The disclosure for this purchase can be found here. Insiders purchased a total of 36,000 shares of company stock worth $468,000 over the last 90 days.

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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