US Bancorp DE Reduces Holdings in Change Healthcare Inc. (NASDAQ:CHNG)

US Bancorp DE decreased its position in shares of Change Healthcare Inc. (NASDAQ:CHNG) by 18.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,993 shares of the company’s stock after selling 670 shares during the quarter. US Bancorp DE’s holdings in Change Healthcare were worth $69,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Credit Suisse AG grew its holdings in shares of Change Healthcare by 316.5% during the first quarter. Credit Suisse AG now owns 791,841 shares of the company’s stock worth $17,499,000 after buying an additional 601,732 shares during the last quarter. Carlson Capital L P purchased a new position in shares of Change Healthcare during the first quarter worth about $21,160,000. Goldman Sachs Group Inc. grew its holdings in shares of Change Healthcare by 6.8% during the first quarter. Goldman Sachs Group Inc. now owns 3,343,641 shares of the company’s stock worth $73,894,000 after buying an additional 212,123 shares during the last quarter. Eqis Capital Management Inc. purchased a new position in shares of Change Healthcare during the first quarter worth about $541,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Change Healthcare by 3,673.2% during the first quarter. JPMorgan Chase & Co. now owns 10,247,540 shares of the company’s stock worth $226,471,000 after buying an additional 9,975,953 shares during the last quarter. 93.84% of the stock is currently owned by hedge funds and other institutional investors.

CHNG stock opened at $21.80 on Tuesday. The firm has a 50 day moving average of $21.78 and a 200-day moving average of $22.51. Change Healthcare Inc. has a 12-month low of $13.49 and a 12-month high of $24.21. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.45. The company has a market cap of $6.78 billion, a price-to-earnings ratio of -128.47, a PEG ratio of 8.21 and a beta of 1.48.

Change Healthcare (NASDAQ:CHNG) last issued its quarterly earnings data on Wednesday, August 4th. The company reported $0.41 earnings per share (EPS) 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 company had revenue of $867.86 million for the quarter, compared to analyst estimates of $857.57 million. During the same quarter in the prior year, the firm earned $0.25 earnings per share. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. Sell-side analysts forecast that Change Healthcare Inc. will post 1.31 earnings per share for the current fiscal year.

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

About Change Healthcare

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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