New Jersey State Joint Pension Fund D sells 14,902 shares of Change Healthcare Inc. (NASDAQ:CHNG)



State of New Jersey Common Pension Fund D reduced its stake in Change Healthcare Inc. (NASDAQ: CHNGGet a rating) by 10.4% in the first quarter, according to the company in its latest 13F filing with the SEC. The fund held 128,653 shares of the company after selling 14,902 shares during the quarter. New Jersey State Joint Pension Fund D’s holdings in Change Healthcare were worth $2,805,000 at the end of the last quarter.

A number of other large investors have also recently changed their positions in CHNG. Versor Investments LP increased its position in Change Healthcare shares by 49.6% in the fourth quarter. Versor Investments LP now owns 3,735,775 shares of the company worth $79,871,000 after purchasing an additional 1,238,976 shares in the last quarter. Boston Partners increased its stake in shares of Change Healthcare by 18.1% in the 4th quarter. Boston Partners now owns 6,082,602 shares of the company valued at $129,857,000 after purchasing an additional 933,892 shares during the period. Alliancebernstein LP increased its stake in shares of Change Healthcare by 9.8% in the 4th quarter. Alliancebernstein LP now owns 10,239,418 shares of the company valued at $218,919,000 after purchasing an additional 914,897 shares during the period. Bank of Montreal Can increased its stake in shares of Change Healthcare by 144.9% in Q4. Bank of Montreal Can now owns 1,105,949 shares of the company valued at $23,734,000 after purchasing an additional 654,316 shares during the period. Finally, Segantii Capital Management Ltd bought a new position in shares of Change Healthcare in Q1 worth approximately $13,405,000. 96.09% of the shares are currently held by institutional investors.

Change the performance of healthcare stocks

Shares of CHNG opened at $24.27 on Friday. The company has a debt ratio of 1.40, a current ratio of 1.22 and a quick ratio of 1.22. Change Healthcare Inc. has a one-year minimum of $18.97 and a one-year maximum of $24.68. The company has a market capitalization of $7.73 billion, a P/E ratio of -134.83, a PEG ratio of 2.31 and a beta of 1.08. The company has a fifty-day moving average of $23.50 and a 200-day moving average of $22.35.

Edit health care (NASDAQ: CHNGGet a rating) last released its quarterly earnings data on Wednesday, May 25. The company reported EPS of $0.34 for the quarter, missing the consensus estimate of $0.37 per ($0.03). Change Healthcare posted a positive return on equity of 12.91% and a negative net margin of 1.65%. The company posted revenue of $920.13 million in the quarter, versus a consensus estimate of $902.86 million. During the same period of the previous year, the company achieved EPS of $0.36. The company’s revenue increased 7.6% year over year. As a group, sell-side analysts expect Change Healthcare Inc. to post EPS of 1.32 for the current year.

Wall Street analysts predict growth

CHNG has been the subject of a number of recent research reports. Credit Suisse Group raised its price target on Change Healthcare from $25.75 to $27.75 and gave the company a “neutral” rating in a Tuesday, May 31 research note. Cowen set a price target of $27.75 on Change Healthcare in a Monday, June 20 research note. Citigroup raised its price target on Change Healthcare from $25.75 to $27.75 and gave the stock a “buy” rating in a Wednesday, June 1 research note. Piper Sandler reworded a “buy” rating and posted a $26.00 price target on Change Healthcare shares in a research note on Tuesday, April 26. Finally, William Blair reiterated a “market performance” rating on Change Healthcare shares in a Friday, June 3 research note. Two investment analysts gave the stock a hold rating and four gave the company a buy rating. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $27.00.

Edit healthcare profile

(Get a rating)

Change Healthcare Inc, an independent health technology company, provides data and analytics-driven solutions to improve clinical, financial, administrative, and patient engagement outcomes in the United States healthcare system. It operates through three segments: Software and Analytics, Network Solutions and Technology-Based Services.

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Want to see which other hedge funds hold CHNG? Visit HoldingsChannel.com for the latest 13F documents and insider trading for Change Healthcare Inc. (NASDAQ: CHNGGet a rating).

Institutional ownership by quarter for Change Healthcare (NASDAQ:CHNG)



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