NextGen Healthcare (NASDAQ:NXGN) Hits New 1-Year Low at $15.23

NextGen Healthcare, Inc. (NASDAQ:NXGN – Get Rating)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $15.23 and last traded at $16.22, with a volume of 128594 shares changing hands. The stock had previously closed at $16.89.

Analyst Ratings Changes

Several analysts have issued reports on NXGN shares. Piper Sandler decreased their price objective on shares of NextGen Healthcare from $20.00 to $17.00 in a research note on Thursday. Stephens began coverage on NextGen Healthcare in a research report on Tuesday, April 11th. They issued an “overweight” rating and a $24.00 price objective on the stock. TheStreet lowered NextGen Healthcare from a “b-” rating to a “c” rating in a research note on Tuesday. Finally, StockNews.com started coverage on shares of NextGen Healthcare in a research note on Thursday. They set a “buy” rating for the company. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.50.

NextGen Healthcare Stock Performance

The firm’s fifty day moving average price is $17.12 and its 200 day moving average price is $18.30. The firm has a market cap of $1.05 billion, a P/E ratio of 45.23 and a beta of 1.04. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.53 and a current ratio of 2.53.

Institutional Trading of NextGen Healthcare

Hedge funds have recently bought and sold shares of the stock. Susquehanna International Group LLP increased its holdings in shares of NextGen Healthcare by 156.9% in the 1st quarter. Susquehanna International Group LLP now owns 77,790 shares of the company’s stock valued at $1,354,000 after acquiring an additional 47,508 shares during the period. Segall Bryant & Hamill LLC purchased a new position in NextGen Healthcare in the first quarter valued at about $10,670,000. State Street Corp raised its holdings in NextGen Healthcare by 3.6% in the first quarter. State Street Corp now owns 1,973,313 shares of the company’s stock worth $34,355,000 after purchasing an additional 69,004 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of NextGen Healthcare by 1.9% during the first quarter. Geode Capital Management LLC now owns 1,107,755 shares of the company’s stock valued at $19,286,000 after buying an additional 21,011 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its position in shares of NextGen Healthcare by 56.1% during the first quarter. Alyeska Investment Group L.P. now owns 1,159,263 shares of the company’s stock valued at $20,183,000 after buying an additional 416,763 shares during the last quarter. Hedge funds and other institutional investors 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.