NextGen Healthcare (NASDAQ:NXGN) Reaches New 1-Year High at $23.69

NextGen Healthcare, Inc. (NASDAQ:NXGN) reached a new 52-week high on Tuesday . The company traded as high as $23.69 and last traded at $23.62, with a volume of 39360 shares. The stock had previously closed at $23.63.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NXGN shares. Guggenheim cut NextGen Healthcare from a “buy” rating to a “neutral” rating in a report on Wednesday, September 6th. Stephens lowered NextGen Healthcare from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, September 6th. 3M reiterated a “maintains” rating on shares of NextGen Healthcare in a research note on Monday, June 12th. Royal Bank of Canada upped their target price on NextGen Healthcare from $17.00 to $23.95 and gave the company a “sector perform” rating in a research note on Thursday, September 7th. Finally, StockNews.com began coverage on NextGen Healthcare in a research note on Saturday. They issued a “hold” rating for the company. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $22.41.

NextGen Healthcare Stock Performance

The stock has a 50-day simple moving average of $18.24 and a 200-day simple moving average of $17.24. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.23 and a quick ratio of 2.23. The stock has a market cap of $1.58 billion, a PE ratio of 787.67 and a beta of 0.99.

NextGen Healthcare (NASDAQ:NXGN) last posted its quarterly earnings results on Monday, July 24th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. NextGen Healthcare had a return on equity of 10.09% and a net margin of 0.35%. The firm had revenue of $178.21 million during the quarter, compared to the consensus estimate of $173.45 million. During the same quarter in the previous year, the business earned $0.06 earnings per share. The firm’s quarterly revenue was up 16.2% compared to the same quarter last year. Equities analysts predict that NextGen Healthcare, Inc. will post 0.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NextGen Healthcare

Several institutional investors and hedge funds have recently modified their holdings of the stock. Credit Suisse AG boosted its position in shares of NextGen Healthcare by 1.1% in the second quarter. Credit Suisse AG now owns 69,999 shares of the company’s stock worth $1,135,000 after buying an additional 768 shares during the period. Knights of Columbus Asset Advisors LLC boosted its position in shares of NextGen Healthcare by 0.5% in the first quarter. Knights of Columbus Asset Advisors LLC now owns 150,984 shares of the company’s stock worth $2,629,000 after buying an additional 774 shares during the period. Arizona State Retirement System boosted its position in shares of NextGen Healthcare by 5.2% in the fourth quarter. Arizona State Retirement System now owns 16,314 shares of the company’s stock worth $306,000 after buying an additional 810 shares during the period. Great West Life Assurance Co. Can boosted its position in shares of NextGen Healthcare by 1.5% in the first quarter. Great West Life Assurance Co. Can now owns 56,314 shares of the company’s stock worth $980,000 after buying an additional 835 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of NextGen Healthcare by 30.4% in the second quarter. PNC Financial Services Group Inc. now owns 3,761 shares of the company’s stock worth $61,000 after buying an additional 877 shares during the period. Hedge funds and other institutional investors own 76.65% of the company’s stock.

NextGen Healthcare Company Profile

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.