Norges Bank purchased a new position in Nextgen Healthcare Inc (NASDAQ:NXGN) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,694,703 shares of the company’s stock, valued at approximately $25,675,000. Norges Bank owned approximately 2.62% of Nextgen Healthcare at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC bought a new position in Nextgen Healthcare in the third quarter worth about $12,649,000. Citigroup Inc. raised its stake in Nextgen Healthcare by 10.7% in the fourth quarter. Citigroup Inc. now owns 54,458 shares of the company’s stock worth $825,000 after buying an additional 5,262 shares in the last quarter. Credit Suisse AG bought a new position in Nextgen Healthcare in the third quarter worth about $946,000. Dimensional Fund Advisors LP bought a new position in Nextgen Healthcare in the third quarter worth about $47,298,000. Finally, MetLife Investment Advisors LLC bought a new position in Nextgen Healthcare in the third quarter worth about $767,000. 71.64% of the stock is owned by institutional investors.
A number of equities analysts recently issued reports on the stock. Dougherty & Co raised shares of Nextgen Healthcare from a “neutral” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Friday, January 11th. Zacks Investment Research raised shares of Nextgen Healthcare from a “sell” rating to a “hold” rating in a research note on Monday, January 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $18.50.
Shares of NASDAQ NXGN opened at $16.80 on Friday. Nextgen Healthcare Inc has a fifty-two week low of $13.17 and a fifty-two week high of $23.73. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 29.47, a price-to-earnings-growth ratio of 3.01 and a beta of 1.15. The company has a quick ratio of 1.31, a current ratio of 1.32 and a debt-to-equity ratio of 0.07.
Nextgen Healthcare (NASDAQ:NXGN) last announced its earnings results on Wednesday, January 23rd. The company reported $0.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.01. Nextgen Healthcare had a net margin of 1.80% and a return on equity of 10.66%. The business had revenue of $130.87 million during the quarter, compared to the consensus estimate of $130.79 million. On average, sell-side analysts anticipate that Nextgen Healthcare Inc will post 0.57 EPS for the current year.
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Nextgen Healthcare Company Profile
NextGen Healthcare, Inc provides software, services, and analytics solutions to medical and dental group practices in the United States. The company's principal products include NextGen Enterprise EHR, which stores and maintains clinical patient information; and a workflow module, prescription management, automatic document and letter generation, patient education, referral tracking, interfaces to billing and lab systems, physician alerts and reminders, and reporting and data analysis tools.
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