Change Healthcare: Q3 Earnings Insights

Shares of Change Healthcare CHNG were flat in after-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share increased 3.03% year over year to $0.34, which beat the estimate of $0.30.

Revenue of $785,141,000 declined by 2.86% from the same period last year, which beat the estimate of $783,860,000.

Outlook

Change Healthcare hasn't issued any earnings guidance for the time being.

Change Healthcare hasn't issued any revenue guidance for the time being.

Technicals

52-week high: $24.21

Company's 52-week low was at $6.18

Price action over last quarter: Up 55.14%

Company Profile

Change Healthcare Inc is a spin-off of various healthcare processing and consulting services acquired by McKesson over numerous years. Recently, these processing assets were contributed to a joint venture and in June 2019 public shares were issued with McKesson retaining the majority interest. As of the end of the March 2020 quarter, McKesson distributed all its interest in the public processor. Core services consist of insurance (healthcare) claim clearinghouse for healthcare payers in addition to administrative and consulting services to assist healthcare providers improve reimbursement coding, billing, and collections.