Several other research analysts also recently weighed in on NXGN. TheStreet upgraded Nextgen Healthcare from a c+ rating to a b rating in a research note on Tuesday, May 28th. Svb Leerink upgraded Nextgen Healthcare from a market perform rating to an outperform rating and lifted their target price for the company from $19.00 to $22.00 in a research note on Thursday, April 25th. Dougherty & Co downgraded Nextgen Healthcare from a neutral rating to a sell rating in a research note on Thursday, July 25th. Zacks Investment Research downgraded Nextgen Healthcare from a hold rating to a sell rating and set a $17.00 target price on the stock. in a research note on Tuesday, July 30th. Finally, Leerink Swann upgraded Nextgen Healthcare from a market perform rating to an outperform rating in a research note on Thursday, April 25th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $18.83.
Shares of NXGN stock opened at $14.80 on Thursday. The business’s 50 day moving average is $18.06 and its two-hundred day moving average is $18.17. Nextgen Healthcare has a twelve month low of $13.60 and a twelve month high of $23.17. The company has a market capitalization of $944.77 million, a P/E ratio of 24.26, a price-to-earnings-growth ratio of 2.70 and a beta of 1.01. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.13.
Nextgen Healthcare (NASDAQ:NXGN) last announced its earnings results on Wednesday, July 24th. The company reported $0.10 earnings per share 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 during the quarter, compared to analysts’ expectations of $136.33 million. During the same quarter last year, the business posted $0.19 earnings per share. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, equities analysts predict that Nextgen Healthcare 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 that occurred on Thursday, June 13th. The stock was sold at an average price of $19.06, for a total value of $76,583.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director George H. Bristol sold 13,873 shares of Nextgen Healthcare stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $19.25, for a total value of $267,055.25. The disclosure for this sale can be found here. Insiders sold a total of 19,004 shares of company stock worth $364,819 over the last quarter. Company insiders own 18.50% of the company’s stock.
Several institutional investors have recently bought and sold shares of NXGN. Norges Bank purchased a new stake in shares of Nextgen Healthcare in the fourth quarter valued at approximately $25,675,000. BlackRock Inc. boosted its stake in shares of Nextgen Healthcare by 5.5% in the second quarter. BlackRock Inc. now owns 7,680,162 shares of the company’s stock valued at $152,836,000 after buying an additional 398,771 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of Nextgen Healthcare in the second quarter valued at approximately $5,652,000. Marshall Wace LLP boosted its stake in shares of Nextgen Healthcare by 166.9% in the second quarter. Marshall Wace LLP now owns 443,668 shares of the company’s stock valued at $8,829,000 after buying an additional 277,463 shares in the last quarter. Finally, Prudential Financial Inc. boosted its stake in shares of Nextgen Healthcare by 109.5% in the second quarter. Prudential Financial Inc. now owns 303,908 shares of the company’s stock valued at $6,047,000 after buying an additional 158,816 shares in the last quarter. Hedge funds and other institutional investors own 69.88% of the company’s stock.
About Nextgen Healthcare
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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