NextGen Healthcare (NASDAQ:NXGN) Price Target Cut to $22.00 by Analysts at Guggenheim

NextGen Healthcare (NASDAQ:NXGN – Get Rating) had its price objective decreased by Guggenheim from $26.00 to $22.00 in a research note issued to investors on Tuesday, The Fly reports.

A number of other research firms also recently issued reports on NXGN. TheStreet downgraded NextGen Healthcare from a b- rating to a c rating in a report on Tuesday, May 16th. Piper Sandler lowered their price objective on NextGen Healthcare from $20.00 to $17.00 in a research note on Thursday, May 18th. Truist Financial decreased their price target on NextGen Healthcare from $22.00 to $18.00 in a research note on Monday. Stephens began coverage on NextGen Healthcare in a report on Tuesday, April 11th. They set an overweight rating and a $24.00 target price on the stock. Finally, StockNews.com initiated coverage on NextGen Healthcare in a research report on Thursday, May 18th. They issued a buy rating for the company. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $21.20.

NextGen Healthcare Price Performance

NextGen Healthcare stock opened at $15.66 on Tuesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.53 and a current ratio of 2.03. NextGen Healthcare has a 52 week low of $15.23 and a 52 week high of $21.99. The firm has a market cap of $1.03 billion, a P/E ratio of -391.50 and a beta of 1.04. The business’s fifty day moving average is $17.04 and its two-hundred day moving average is $18.18.

Hedge Funds Weigh In On NextGen Healthcare

Several institutional investors have recently bought and sold shares of the company. Millennium Management LLC lifted its position 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 worth $27,837,000 after acquiring an additional 1,447,527 shares in the last quarter. Lazard Asset Management LLC lifted its position 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 worth $18,867,000 after acquiring an additional 1,055,643 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of NextGen Healthcare during the first quarter worth $10,670,000. Assenagon Asset Management S.A. lifted its position in shares of NextGen Healthcare by 108.5% during the fourth 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 in 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 worth $20,183,000 after acquiring an additional 416,763 shares in the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

NextGen Healthcare Company Profile

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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.