Change Healthcare Inc. (CHNG): Technical Analysis Suggests You Should Hold

The stock of Change Healthcare Inc. (NASDAQ:CHNG) increased by remained unchanged at $21.20, up 0.33 percent. The last five days have seen an average of 1,147,100 shares of common stock traded. 2 times new highs were reached in the current year, with a gain of $2.55. The average number of shares traded over the last 20 days was 1,380,080, while the average volume over the last 50 days totaled 1,363,832.

CHNG stock dropped -1.81% since last month. On 10/13/21, the company’s shares reached a one-month low of $20.48. The stock touched a high of $24.21 on 01/06/21, after rallying from a low of $13.79 in 52 weeks. The price of CHNG stock has risen by 13.67% or $2.55 this year, reaching a new high 2 times. Still, the stock price is down -12.43% from the 52-week high.

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For the three months ended June 29, Change Healthcare Inc.’s quick ratio was 1.10, while its current ratio was 1.10, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 1.45, and the total debt to equity ratio is 1.46. As far as profitability goes, gross margin for the trailing twelve months is 58.10% percent. Change Healthcare Inc.’s operating margin stood at 4.40% for the same period. Based on annual data, it had gross profit of $1.76 billion and revenue of $3.09 billion.

Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. CHNG’s return on assets (ROA) during the last 12 months has been -0.60%. There was a 1.60% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -1.80%. ROE has averaged 9.65 in the past year for the broader industry.

Earnings Surprise

According to Change Healthcare Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $867.86 million, while revenues rose by 20.01% to $855.16 million. It was predicted that Change Healthcare Inc.’s quarterly earnings would be $0.41, but it ended up being $0.44, beating the consensus by -6.80%. EBITDA was $220.98 million for the quarter. At the end of Change Healthcare Inc.’s most recent quarter ended June 29, its liabilities totaled 6.77 billion, while its total debt was $4.87 billion. Equity owned by shareholders amounts to $310.86 million.

Technical Picture

Here’s a quick look at Change Healthcare Inc.’s (CHNG) price momentum from a technical perspective. As of 22 October, the RSI 9-day stood at 60.46%, suggesting the stock is Neutral, with a 12.02% historical volatility rate.

The stochastic %K and %D were 78.00% and 61.09% respectively, while the average true range (ATR) was 0.27. Based on the 14-day stochastic reading of 83.72%, the RSI (14) reading is 53.38%. On the 9-day MACD Oscillator, the stock is at 0.33, and the 14-day reading is at 0.33.

Analyst Ratings

Analysts have assigned Change Healthcare Inc. (CHNG) an Hold rating. CHNG is a stock that is recommended for selling by 0 brokerage firms, while 10 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 3 others recommend it as a buy.

What is CHNG’s price target for the next 12 months?

The current consensus forecast for the stock is between $25.75 and $25.75, with a median target price of $25.75. In analyzing these forecasts, the average price target given by analysts for Change Healthcare Inc. (CHNG) is $25.75.


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