Change Healthcare Inc. (NASDAQ: CHNG) was one of the biggest movers in the recent trading session. So what do we make of this stock that is clearly one of the hottest on the market now? The CHNG stock is trading at $16.16 from a close of $16.50 on 01/15/20. The day’s price range saw the stock hit a low of $15.85, while the highest price level was $17.00 during the intraday trading.
Is the CHNG stock going to continue the plunge or will it steady in coming sessions to climb above its 5-day high price of $17.00. Change Healthcare Inc. (NASDAQ: CHNG) has a 52-week price range of between $11.24 and $16.73. Notably, the reduced performance in the current session comes on the back of condensed market activity for the stock, as its daily trading volume to 3623947, compared to its 3-months daily average volume of 945.93K. In comparison, the average volume for the last 50 days stands at 1,129,760.
What about the stock’s price forecasts? CHNG had 18 analysts who offered their 12-month price predictions for the Change Healthcare Inc. shares. The group has given the stock a consensus price target of $18.53, with the lowest forecast being put at $15.00. The highest estimate by the 18 analysts is $21.00. The median price target estimate of $18.00 for the stock represents a 10.22% jump in value from the previous price of $16.16. Looking at the 52-week price ranges, the stock’s current price level is 43.77% from its 52-week high price and -3.41% down from its 52-week low in the same period.
Change Healthcare Inc. shares have surged 1.89% over the past week, but its 1-month performance is in the green at 18.22%. Its performance in the current quarter is up 26.84%, while that figure shoots to 15.35% over the past half-year period.
If you put your money on this stock, then a forecast ROI is at 9.90%.
This mean rating was at 4.80 a month ago. Raymond James called it a Outperform stock on December 20, 2019, while RBC Capital Mkts rated it a Outperform in its note released on November 22, 2019.
Looking at the current EPS trends, seven days ago, CHNG had its Dec 2019 estimates at $0.31 per share while the stock’s EPS was forecasted at the $0.31, a month ago.
16 analysts have forecast that Change Healthcare Inc. will see its revenue growth net between $807.2 million and $821 million for the current quarter. The next quarter should see revenue returns of between $839.2 million and $863 million.The average revenue for the quarter is expected at $814.17 million, while for the next quarter, it jumps to $852.77 million. Sales growth for the year are estimated at 4.90%.