Zacks Research Weighs in on NextGen Healthcare, Inc.’s FY2024 Earnings (NASDAQ:NXGN)

NextGen Healthcare, Inc. (NASDAQ:NXGN – Get Rating) – Analysts at Zacks Research dropped their FY2024 earnings estimates for NextGen Healthcare in a report issued on Monday, March 13th. Zacks Research analyst D. Dey now expects that the company will post earnings of $0.55 per share for the year, down from their previous forecast of $0.56. The consensus estimate for NextGen Healthcare’s current full-year earnings is $0.54 per share.

Separately, StockNews.com assumed coverage on shares of NextGen Healthcare in a report on Thursday. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.75.

NextGen Healthcare Price Performance

NXGN stock opened at $17.19 on Thursday. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 49.12 and a beta of 1.03. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 0.64. NextGen Healthcare has a 12-month low of $16.13 and a 12-month high of $21.99. The company’s fifty day simple moving average is $18.14 and its 200 day simple moving average is $18.47.

Hedge Funds Weigh In On NextGen Healthcare

Several institutional investors have recently made changes to their positions in NXGN. Millennium Management LLC raised its holdings in shares of NextGen Healthcare by 4,166.6% during the fourth quarter. Millennium Management LLC now owns 1,482,268 shares of the company’s stock valued at $27,837,000 after purchasing an additional 1,447,527 shares during the period. Lazard Asset Management LLC raised its holdings in shares of NextGen Healthcare by 10,233.1% during the third quarter. Lazard Asset Management LLC now owns 1,065,959 shares of the company’s stock valued at $18,867,000 after purchasing an additional 1,055,643 shares during the period. Fort Washington Investment Advisors Inc. OH acquired a new position in shares of NextGen Healthcare during the third quarter valued at about $10,592,000. Assenagon Asset Management S.A. raised its holdings in shares of NextGen Healthcare by 108.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 865,662 shares of the company’s stock worth $16,257,000 after acquiring an additional 450,521 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of NextGen Healthcare by 104.3% in the 1st quarter. Invesco Ltd. now owns 704,170 shares of the company’s stock worth $14,725,000 after acquiring an additional 359,501 shares during the last quarter. Institutional investors and hedge funds own 73.70% of the company’s stock.

About NextGen Healthcare

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NextGen Healthcare, Inc provides software and services that empower ambulatory healthcare practices to manage the risk and complexity of delivering care in the rapidly evolving U.S. healthcare system. Its portfolio includes tightly integrated solutions that deliver on ambulatory healthcare imperatives including population health, care management, patient outreach, telemedicine, and nationwide clinical information exchange.