An Change Healthcare Inc. (CHNG) SVP, Corporate Controller Sells 4579.0 Shares

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KOSK Stock
KOSK Stock

Change Healthcare Inc. (NASDAQ:CHNG) finished Thursday with an addition of $0.06 to close at $27.26, an upside of 0.22 percent. An average of 18,541,760 shares of common stock have been traded in the last five days. There was a gain of $1.70 in the past week, and it reached a new high 23 times over the past 12 months. The last 20 days have seen an average of 6,312,490 shares traded, while the 50-day average volume stands at 4,014,358.

CHNG stock has increased by 9.96% in the last month. The company shares reached their 1-month lowest point of $24.53 on 08/30/22. With the stock rallying to its 52-week high on 09/22/22, shares of the company touched a low of $18.97 and a high of $27.27 in 52 weeks. It has reached a new high 28 times so far this year and achieved 27.50% or $5.88 in price. In spite of this, the price is down -0.04% from the 52-week high.


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Insider Transactions

308 days have passed since Change Healthcare Inc. (CHNG) last reported insider trading activity. Rareshide Paul, who is SVP, Corporate Controller, most recently acquired $4,579 shares at $20.60 per share on Nov 19. In this transaction, the insider spent $94,329. EVP, Enterprise Technology, Martin Steven B., disposed of 8,857 shares at a price of $21.35 on Nov 11. The insider now owns more than $189,102 worth of shares.

Valuation Metrics

Change Healthcare Inc. (CHNG) has a trailing price-to-sales (P/S) ratio at 2.57, the price-to-book (PB) ratio at 2.70, and the price-to-cash flow ratio at 23.60.

Financial Health

The quick ratio of Change Healthcare Inc. for the three months ended June 29 was 1.20, and the current ratio was 1.20, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.36 and a total debt to equity ratio of 1.36 for the quarter ending June 29. Its gross profit as reported stood at $2.07 billion compared to revenue of $3.48 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Change Healthcare Inc.’s return on assets was -0.80%.

Earnings Surprise

For the three-month period that ended June 29, Change Healthcare Inc. had $4.49 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$23.17 million in the quarter, while revenues were grew 84.42%. The analyst consensus anticipated Change Healthcare Inc.’s latest quarter earnings to come in at $0.39 per share, but it turned out to be $0.38, a -2.60% surprise. For the quarter, EBITDA amounted to $208.05 million. Shareholders own equity worth $328.31 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Change Healthcare Inc. (CHNG) price momentum. RSI 9-day as of the close on 22 September was 88.09%, suggesting the stock is Overbought, with historical volatility in this time frame at 31.02%.

As of today, CHNG’s price is $26.51 +6.65% or $1.70 from its 5-day moving average. CHNG is currently trading +9.96% higher than its 20-day SMA and +15.70% higher than its 100-day SMA. However, the stock’s current price level is +19.61% above the SMA50 and +33.17% above the SMA200.

The stochastic %K and %D were 96.11% and 90.53%, respectively, and the average true range (ATR) was 0.37. With the 14-day stochastic at 96.79% and the average true range at 0.35, the RSI (14) stands at 83.09%. The stock has reached 1.15 on the 9-day MACD Oscillator while the 14-day reading was at 1.50.

Analyst Ratings

Piper Sandler downgraded Change Healthcare Inc. (NASDAQ: CHNG) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as an Overweight. The consensus rating for Change Healthcare Inc. (CHNG) among analysts is Hold. According to current brokerage recommendations, 0 brokerage firms advise that investors sell CHNG, while 9 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 2 others rate it as a “buy”.

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

Analysts predict a range of price targets between $25.75 and $27.75, with a median target of $27.75. Taking a look at these predictions, the average price target given by analysts for Change Healthcare Inc. (CHNG) stock is $27.50.

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