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.
Get NextGen Healthcare alerts: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.
NextGen Healthcare (NASDAQ:NXGN – Get Rating) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.15 by ($0.02). NextGen Healthcare had a net margin of 3.31% and a return on equity of 6.50%. The business had revenue of $159.44 million for the quarter, compared to analysts' expectations of $156.46 million. Analysts predict that NextGen Healthcare will post 0.57 EPS for the current year.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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