Change Healthcare Inc. (CHNG) 20 Days SMA touches -1.09%: The odds favor the bear

Change Healthcare Inc. (NASDAQ: CHNG) on June 22, 2022, started off the session at the price of $22.97, soaring 0.22% from the previous trading day. During the day, the shares moved up to $23.28 and dropped to $22.97 before settling in for the closing price of $23.09. Within the past 52 weeks, CHNG’s price has moved between $18.97 and $24.12.

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Over the past five-year period, the growth rate of yearbook sales for the company of the Healthcare sector was 62.20%. The company achieved an average annual earnings per share of 49.40%. With a float of $310.46 million, this company’s outstanding shares have now reached $324.98 million.

Considering the fact that the conglomerate employs 14000 people, you should pay attention to its efficiency factor.

Change Healthcare Inc. (CHNG) Insider Activity

Observing investor behavior towards Health Information Services industry stocks is more important than anything else. The insider ownership of Change Healthcare Inc. is 1.60%, while institutional ownership is 99.20%. The most recent insider transaction that took place on Nov 19, was worth 94,329. In this transaction SVP, Corporate Controller of this company sold 4,579 shares at a rate of $20.60, taking the stock ownership to the 29,362 shares. Before that another transaction happened on Nov 11, when Company’s EVP, Enterprise Technology sold 8,857 for $21.35, making the entire transaction worth $189,102. This insider now owns 262,168 shares in total.

Change Healthcare Inc. (CHNG) Earnings and Forecasts

As on 12/30/2021, Multinational firm has announced its last quarter scores, in which it reported $0.36 earnings per share (EPS) for the period topping the consensus outlook (set at $0.34) by $0.02. Wall Street market experts anticipate that the next fiscal year will bring earnings of 0.47 per share during the current fiscal year.

According to the Wall Street analysts, stocks earnings will be around 49.40% per share during the next fiscal year. For the long-term projections, market analysts anticipate that the company’s EPS will surge by 13.00% during the next five years compared to 23.30% growth over the previous five years of trading.

Change Healthcare Inc. (NASDAQ: CHNG) Trading Performance Indicators

Change Healthcare Inc. (CHNG) is currently performing well based on its current performance indicators. A quick ratio of 1.20 was reported for the most recent quarter. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 2.07. Likewise, its price to free cash flow for the trailing twelve months is 17.14.

For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is -0.18, a number that is poised to hit 0.40 in the next quarter and is forecasted to reach 1.72 in one year’s time.

Technical Analysis of Change Healthcare Inc. (CHNG)

Compared to the last year’s volume of 2.79 million, its volume of 3.93 million showed improvement in the last five days. As of the previous 9 days, the stock’s Stochastic %D was 51.62%. Additionally, its Average True Range was 0.39.

During the past 100 days, Change Healthcare Inc.’s (CHNG) raw stochastic average was set at 80.97%, which indicates a significant increase from 49.10% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 17.78% in the past 14 days, which was lower than the 19.28% volatility it showed in the past 100 days.

At the time of writing, stock’s 50-day Moving Average is $23.38, while its 200-day Moving Average is $21.63. Nevertheless, the first resistance level for the watch stands at $23.29 in the near term. At $23.44, the stock is likely to face the second major resistance level. The third major resistance level sits at $23.60. If the price goes on to break the first support level at $22.98, it is likely to go to the next support level at $22.82. Should the price break the second support level, the third support level stands at $22.67.

Change Healthcare Inc. (NASDAQ: CHNG) Key Stats

Market capitalization of the company is 7.21 billion based on 318,546K outstanding shares. Right now, sales total 3,481 M and income totals -57,390 K. The company made 920,130 K in profit during its latest quarter, and 7,090 K in sales during its previous quarter.


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