Nextgen Healthcare (NASDAQ:NXGN) had its price target dropped by analysts at SunTrust Banks from $14.00 to $10.00 in a research note issued on Thursday, BenzingaRatingsTable reports. The brokerage currently has a “hold” rating on the stock. SunTrust Banks’ target price would suggest a potential upside of 11.11% from the stock’s previous close.
Several other equities analysts also recently commented on NXGN. ValuEngine downgraded Nextgen Healthcare from a “buy” rating to a “hold” rating in a research report on Friday, December 13th. Cantor Fitzgerald downgraded Nextgen Healthcare from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $22.00 to $17.00 in a research report on Thursday, December 12th. They noted that the move was a valuation call. BidaskClub downgraded Nextgen Healthcare from a “hold” rating to a “sell” rating in a research report on Wednesday, March 18th. TheStreet downgraded Nextgen Healthcare from a “b-” rating to a “c+” rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Co downgraded Nextgen Healthcare from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $18.00 to $16.00 in a research report on Wednesday, January 8th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $14.89.
Shares of NXGN stock traded up $0.43 on Thursday, hitting $9.00. 929 shares of the company’s stock were exchanged, compared to its average volume of 718,727. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.12 and a quick ratio of 1.12. Nextgen Healthcare has a 12 month low of $5.10 and a 12 month high of $21.12. The stock has a market cap of $597.88 million, a P/E ratio of 37.50, a price-to-earnings-growth ratio of 2.01 and a beta of 1.05. The company has a 50 day moving average of $11.89 and a 200 day moving average of $15.04.
Nextgen Healthcare (NASDAQ:NXGN) last announced its quarterly earnings data on Thursday, January 23rd. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.03. Nextgen Healthcare had a return on equity of 10.58% and a net margin of 2.91%. The business had revenue of $137.70 million during the quarter, compared to the consensus estimate of $135.37 million. During the same period in the prior year, the company earned $0.18 EPS. Nextgen Healthcare’s revenue for the quarter was up 5.2% on a year-over-year basis. Sell-side analysts predict that Nextgen Healthcare will post 0.59 EPS for the current fiscal year.
In related news, Director Jeffrey H. Margolis bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were bought at an average price of $9.26 per share, with a total value of $92,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James Robert Jr. Arnold bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The shares were bought at an average cost of $9.20 per share, for a total transaction of $46,000.00. Following the transaction, the chief financial officer now owns 328,766 shares of the company’s stock, valued at $3,024,647.20. The disclosure for this purchase can be found here. Insiders acquired 15,575 shares of company stock valued at $143,476 in the last three months. Insiders own 18.50% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. boosted its position in shares of Nextgen Healthcare by 114.2% during the fourth quarter. Meeder Asset Management Inc. now owns 4,584 shares of the company’s stock valued at $74,000 after buying an additional 2,444 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Nextgen Healthcare during the fourth quarter valued at approximately $122,000. Alberta Investment Management Corp purchased a new position in shares of Nextgen Healthcare during the fourth quarter valued at approximately $166,000. Spark Investment Management LLC purchased a new position in shares of Nextgen Healthcare during the fourth quarter valued at approximately $211,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of Nextgen Healthcare during the fourth quarter valued at approximately $226,000. 72.83% of the stock is currently owned by institutional investors.
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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