Nextgen Healthcare Inc (NASDAQ:NXGN)’s share price dropped 6.7% during trading on Wednesday . The stock traded as low as $13.99 and last traded at $14.13, approximately 686,254 shares changed hands during trading. An increase of 142% from the average daily volume of 283,670 shares. The stock had previously closed at $15.15.
NXGN has been the topic of several research analyst reports. Leerink Swann upgraded shares of Nextgen Healthcare from a “market perform” rating to an “outperform” rating in a report on Thursday, April 25th. Zacks Investment Research cut shares of Nextgen Healthcare from a “hold” rating to a “sell” rating and set a $17.00 price target on the stock. in a report on Tuesday, July 30th. ValuEngine upgraded shares of Nextgen Healthcare from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. TheStreet upgraded shares of Nextgen Healthcare from a “c+” rating to a “b” rating in a report on Tuesday, May 28th. Finally, Svb Leerink upgraded shares of Nextgen Healthcare from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $19.00 to $22.00 in a report on Thursday, April 25th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. Nextgen Healthcare presently has an average rating of “Hold” and a consensus target price of $18.83.
The firm’s fifty day simple moving average is $18.24. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.13. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 23.16, a PEG ratio of 2.91 and a beta of 1.01.
Nextgen Healthcare (NASDAQ:NXGN) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.05). Nextgen Healthcare had a net margin of 4.37% and a return on equity of 10.05%. The company had revenue of $131.86 million for the quarter, compared to analysts’ expectations of $136.33 million. During the same quarter in the prior year, the firm earned $0.19 earnings per share. The company’s revenue was down 1.0% on a year-over-year basis. On average, sell-side analysts predict that Nextgen Healthcare Inc will post 0.62 earnings per share for the current fiscal year.
In related news, Director Sheldon Razin sold 4,018 shares of Nextgen Healthcare stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $19.06, for a total value of $76,583.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George H. Bristol sold 13,873 shares of Nextgen Healthcare stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $19.25, for a total transaction of $267,055.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,004 shares of company stock valued at $364,819. 18.50% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP grew its stake in shares of Nextgen Healthcare by 166.9% during the second quarter. Marshall Wace LLP now owns 443,668 shares of the company’s stock valued at $8,829,000 after purchasing an additional 277,463 shares during the last quarter. Morgan Stanley grew its stake in shares of Nextgen Healthcare by 23.6% during the second quarter. Morgan Stanley now owns 350,481 shares of the company’s stock valued at $6,975,000 after purchasing an additional 66,899 shares during the last quarter. Paloma Partners Management Co bought a new stake in shares of Nextgen Healthcare during the second quarter valued at approximately $285,000. Bank of America Corp DE grew its stake in shares of Nextgen Healthcare by 23.1% during the second quarter. Bank of America Corp DE now owns 54,406 shares of the company’s stock valued at $1,082,000 after purchasing an additional 10,211 shares during the last quarter. Finally, Algert Global LLC grew its stake in shares of Nextgen Healthcare by 280.2% during the second quarter. Algert Global LLC now owns 62,826 shares of the company’s stock valued at $1,250,000 after purchasing an additional 46,300 shares during the last quarter. 69.88% of the stock is owned by institutional investors and hedge funds.
About Nextgen Healthcare (NASDAQ:NXGN)
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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