Change Healthcare Inc. (NASDAQ:CHNG) Stake Raised by Athos Capital Ltd

Athos Capital Ltd increased its holdings in Change Healthcare Inc. (NASDAQ:CHNG) by 17.0% in the 2nd quarter, Holdings Channel reports. The fund owned 418,347 shares of the company’s stock after purchasing an additional 60,926 shares during the period. Change Healthcare makes up about 1.9% of Athos Capital Ltd’s portfolio, making the stock its 12th biggest position. Athos Capital Ltd’s holdings in Change Healthcare were worth $9,639,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Eaton Vance Management purchased a new stake in Change Healthcare in the 1st quarter worth about $25,000. O Shaughnessy Asset Management LLC raised its stake in shares of Change Healthcare by 4,428.0% during the 2nd quarter. O Shaughnessy Asset Management LLC now owns 1,132 shares of the company’s stock worth $26,000 after purchasing an additional 1,107 shares in the last quarter. SkyView Investment Advisors LLC raised its stake in shares of Change Healthcare by 185.6% during the 1st quarter. SkyView Investment Advisors LLC now owns 1,445 shares of the company’s stock worth $32,000 after purchasing an additional 939 shares in the last quarter. Captrust Financial Advisors purchased a new stake in shares of Change Healthcare during the 1st quarter worth about $36,000. Finally, Fred Alger Management LLC purchased a new stake in shares of Change Healthcare during the 1st quarter worth about $43,000. 93.84% of the stock is owned by hedge funds and other institutional investors.

Separately, Deutsche Bank Aktiengesellschaft raised Change Healthcare to a “buy” rating and set a $25.75 price target for the company in a research note on Tuesday, August 31st. Fourteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Change Healthcare has a consensus rating of “Hold” and an average target price of $23.55.

Shares of NASDAQ:CHNG traded up $0.17 during trading on Thursday, hitting $21.84. 3,934 shares of the stock were exchanged, compared to its average volume of 3,120,238. Change Healthcare Inc. has a 1-year low of $13.49 and a 1-year high of $24.21. The company has a market capitalization of $6.79 billion, a price-to-earnings ratio of -127.47, a price-to-earnings-growth ratio of 8.21 and a beta of 1.48. The company’s fifty day simple moving average is $21.75 and its 200-day simple moving average is $22.49. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.12 and a current ratio of 1.12.

Change Healthcare (NASDAQ:CHNG) last announced its quarterly earnings data on Wednesday, August 4th. The company reported $0.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.03). Change Healthcare had a positive return on equity of 12.99% and a negative net margin of 1.75%. The firm had revenue of $867.86 million for the quarter, compared to analyst estimates of $857.57 million. During the same period in the previous year, the business posted $0.25 EPS. Change Healthcare’s revenue for the quarter was up 25.0% compared to the same quarter last year. On average, research analysts forecast that Change Healthcare Inc. will post 1.31 earnings per share for the current fiscal year.

Change Healthcare Company Profile

Change Healthcare, Inc engages in the development of healthcare technology platform that offers data and analytics-driven solutions. It operates through the following segments: Software and Analytics, Network Solutions, and Technology-Enabled Services. The Software and Analytics segment provides solutions for revenue cycle management, provider network management, payment accuracy, value-based payments, clinical decision support, consumer engagement, risk adjustment and quality performance, and imaging and clinical workflow.

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Institutional Ownership by Quarter for Change Healthcare (NASDAQ:CHNG)

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