NextGen Healthcare (NASDAQ:NXGN – Get Rating) was downgraded by stock analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Wednesday.

Several other equities analysts have also weighed in on NXGN. Piper Sandler restated a "neutral" rating and set a $20.00 price target on shares of NextGen Healthcare in a research report on Friday, October 21st. SVB Leerink raised their price target on shares of NextGen Healthcare from $24.00 to $25.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 26th. TheStreet raised shares of NextGen Healthcare from a "c" rating to a "b-" rating in a report on Wednesday, October 26th. Finally, Truist Financial initiated coverage on NextGen Healthcare in a report on Wednesday, September 7th. They set a "hold" rating and a $20.00 price objective for the company. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, NextGen Healthcare presently has a consensus rating of "Moderate Buy" and an average price target of $22.75.

NextGen Healthcare Stock Performance

Shares of NextGen Healthcare stock traded up $0.10 during mid-day trading on Wednesday, hitting $19.12. 312,654 shares of the stock were exchanged, compared to its average volume of 439,599. NextGen Healthcare has a 12 month low of $16.13 and a 12 month high of $21.99. The company has a 50-day simple moving average of $19.42 and a 200 day simple moving average of $18.13. The company has a market capitalization of $1.29 billion, a P/E ratio of 61.68 and a beta of 1.00.

Insider Activity at NextGen Healthcare

In related news, CTO David A. Metcalfe sold 32,372 shares of NextGen Healthcare stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $20.21, for a total value of $654,238.12. Following the completion of the transaction, the chief technology officer now directly owns 148,776 shares in the company, valued at approximately $3,006,762.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CTO David A. Metcalfe sold 32,372 shares of NextGen Healthcare stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $20.21, for a total value of $654,238.12. Following the completion of the transaction, the chief technology officer now directly owns 148,776 shares in the company, valued at $3,006,762.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mitchell Waters sold 9,783 shares of the business's stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $20.50, for a total value of $200,551.50. Following the sale, the executive vice president now owns 70,469 shares in the company, valued at $1,444,614.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 110,788 shares of company stock worth $2,246,225. 4.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NextGen Healthcare

Large investors have recently modified their holdings of the company. Clearstead Advisors LLC purchased a new stake in NextGen Healthcare in the 2nd quarter worth approximately $26,000. Point72 Hong Kong Ltd bought a new stake in NextGen Healthcare during the third quarter valued at $40,000. First Horizon Advisors Inc. boosted its stake in NextGen Healthcare by 33.0% during the second quarter. First Horizon Advisors Inc. now owns 3,784 shares of the company's stock valued at $66,000 after buying an additional 939 shares during the period. Truvestments Capital LLC purchased a new position in NextGen Healthcare during the second quarter worth about $77,000. Finally, KBC Group NV bought a new position in NextGen Healthcare in the 2nd quarter worth about $82,000. 73.80% of the stock is currently owned by institutional investors.

About NextGen Healthcare

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NextGen Healthcare, Inc provides healthcare technology solutions in the United States. The company offers clinical care solutions, including NextGen Enterprise EHR; financial solutions, such as NextGen Enterprise PM; patient engagement solutions comprising NextGen Virtual Visits; integrated clinical care and financial solutions consisting of NextGen Office; interoperability solutions that include NextGen Share and Mirth Connect; data and analytics solutions, which comprise NextGen Health Data Hub; and value based care solutions, including NextGen Population Health Solutions.

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