Benzinga | May 26, 2021 04:21PM EDT

Change Healthcare: Q4 Earnings Insights

Shares of Change Healthcare (NASDAQ:CHNG) were flat in after-market trading after the company reported Q4 results.

Quarterly Results

Earnings per share were flat 0.00% over the past year to $0.42, which beat the estimate of $0.36.

Revenue of $855,160,000 higher by 1.40% year over year, which beat the estimate of $840,530,000.

Outlook

Change Healthcare Says 'Due to the recently announced transaction with OptumInsight, we will no longer be providing financial guidance.'

Price Action

52-week high: $24.21

Company's 52-week low was at $9.76

Price action over last quarter: down 3.74%

Company Description

Change Healthcare 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.