Change Healthcare Stock Symbol Overview and Analysis

Change Healthcare is a leading healthcare technology company that provides a range of services, including revenue cycle management and analytics.

Their stock symbol is CHNG. This symbol is used to identify the company on various stock exchanges, including the New York Stock Exchange (NYSE).

As of the last update, Change Healthcare's market capitalization is over $6 billion. This reflects the company's significant size and influence in the healthcare technology industry.

Change Healthcare's stock has experienced fluctuations in value over time, with a high of around $20 per share and a low of around $5 per share.

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Over the past 52 weeks, Change Healthcare's stock has seen a significant increase of 31.28% since September 30, 2021.

The 1-month performance is particularly noteworthy, with a gain of 2.92% since August 30, 2022, and a period high of $27.59 on September 28, 2022.

In the 3-month period, the stock has risen by 19.21% since June 30, 2022, with a period low of $22.65 on July 13, 2022.

Here's a breakdown of the stock's performance over different periods:

Change Healthcare's technical analysis suggests a strong short-term outlook, with a 100% Buy rating from Barchart.

The technical opinion is based on long-term indicators that fully support a continuation of the current trend.

However, the market is in highly overbought territory, which can be a warning sign for a potential trend reversal.

Barchart's rating indicates that maintaining the current direction is the strongest option, but caution is advised due to the market's overbought status.

The healthcare industry is a significant player in the stock market, with Change Healthcare being a major player. Change Healthcare's stock symbol is CHNG.

The company's focus on digital health and technology has helped it grow and expand its services. This includes its acquisition of Apixio, a healthcare AI company.

Change Healthcare's stock performance has been affected by the COVID-19 pandemic, with the company's revenue increasing due to the surge in demand for its services.

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Analysts' Recommendations play a crucial role in shaping investor decisions, and in the healthcare industry, their insights can be particularly valuable.

Change Healthcare Inc. has received several analyst recommendations recently.

Analysts such as Citigroup, Piper Sandler, and Truist Securities have downgraded their ratings on Change Healthcare, recommending a neutral or hold position.

These downgrades were made with a price target of $27.75, a figure that has been consistent across multiple analyst reports.

Cowen, another analyst, adjusted their price target for Change Healthcare to $27.75 from $25.75, while maintaining a market perform rating.

These analyst recommendations demonstrate the importance of staying informed about industry trends and company performance.

Change Healthcare, a provider of revenue cycle management and analytics products, priced its shares at $13, below an expected range of $16-$19 per share.

The company aims to raise over $557.7 million in an initial public offering of 42,857,142 shares of its common stock.

This comes in significantly lower than the expected price, which could impact the company's valuation.

Change Healthcare will also offer "5,000,000 of its 6.00% tangible equity units" with a stated amount of $50, yielding an additional $250 million for the company's primary offering.

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The securities will settle for between 3.2051 and 3.8461 shares of the Company's common stock per purchase contract.

Barclays, Goldman Sachs, and J.P. Morgan are serving as principal underwriters of the offering, alongside a cadre of other institutional investors.

Change Healthcare shares will trade on the Nasdaq under the symbol CHNG, and its tangible equity units will trade under CHNGU.

The company stated that the proceeds from the offering will be used to pay down existing debt, totaling over $5 billion.

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