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Saturday, September 18, 2021

Investor Confidence is Falling for Change Healthcare Inc. (NASDAQ:CHNG)

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Change Healthcare Inc. (CHNG) shares are trading at lower $14.75 and the avg recommendation for the stock is Strong Buy, while the current analyst price target stands at $18.00.

To add more color to this target, the company’s high over the last year is $17.57 and the low is $6.18. Over the last 52 weeks, CHNG is up 15.69% while the S&P 500 is up 11.51%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, CHNG reported a profit of $375.64 million. Change Healthcare Inc. also saw revenues increase to $694.18 million. In addition, CHNG has free cash flow of $102.33 million as of 06-2020. The company’s EBITDA came in at $138.99 million which compares well with its peers.

CHNG booked profit margins of -4.30%, its Return on Equity (ROE) is -7.90%, and its Return on Assets is -1.70%. All told, it is clear that, CHNG needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. CHNG has a short ratio of 4.81 and outstanding shares of 320.05M.

Company Outlook

CHNG has seen increased volume after this news and investors are putting their support behind the value proposition. Traders will also note the company’s earnings per share came in at -0.42. Change Healthcare Inc. CHNG also noted assets of $10.26 billion at the end of the last quarter. Investors should also keep an eye on sector updates as CHNG has historically followed its peers on positive news.

All told, Change Healthcare Inc. CHNG has strung together solid data and demonstrated underlying fundamentals. At its current valuation, CHNG represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Change Healthcare Inc. CHNG is now commanding a market cap of 4.39B and a float of 288.11M. CHNG is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of CHNG stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in CHNG, either long or short, and we have not been compensated for this article.

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