NextGen Healthcare (NASDAQ:NXGN) Upgraded to “Buy” by StockNews.com

NextGen Healthcare (NASDAQ:NXGN) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Several other research analysts have also commented on NXGN. Cantor Fitzgerald started coverage on shares of NextGen Healthcare in a research note on Monday. They set an “overweight” rating and a $21.00 price target on the stock. TheStreet cut NextGen Healthcare from a “b-” rating to a “c” rating in a research report on Tuesday, May 16th. Royal Bank of Canada reissued a “sector perform” rating and set a $17.00 price objective on shares of NextGen Healthcare in a report on Tuesday, July 25th. Stephens restated an “overweight” rating and issued a $24.00 target price on shares of NextGen Healthcare in a report on Tuesday, July 25th. Finally, Guggenheim reaffirmed a “buy” rating and set a $22.00 target price on shares of NextGen Healthcare in a research report on Tuesday, July 25th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $20.57.

NextGen Healthcare Price Performance

NXGN opened at $18.05 on Wednesday. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 601.67 and a beta of 1.02. NextGen Healthcare has a 1 year low of $15.23 and a 1 year high of $21.99. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.65. The stock has a fifty day moving average price of $16.51 and a 200 day moving average price of $16.90.

NextGen Healthcare (NASDAQ:NXGN) last announced its quarterly earnings results on Monday, July 24th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. NextGen Healthcare had a return on equity of 10.09% and a net margin of 0.35%. The business had revenue of $178.21 million during the quarter, compared to analyst estimates of $173.45 million. During the same period in the previous year, the company earned $0.06 EPS. The firm’s revenue was up 16.2% on a year-over-year basis. Analysts forecast that NextGen Healthcare will post 0.69 EPS for the current fiscal year.

Hedge Funds Weigh In On NextGen Healthcare

Large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC grew its position in NextGen Healthcare by 146.4% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,363 shares of the company’s stock worth $41,000 after purchasing an additional 1,404 shares during the last quarter. Altshuler Shaham Ltd raised its position in shares of NextGen Healthcare by 98.7% during the fourth quarter. Altshuler Shaham Ltd now owns 3,205 shares of the company’s stock valued at $60,000 after buying an additional 1,592 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of NextGen Healthcare by 30.4% during the second quarter. PNC Financial Services Group Inc. now owns 3,761 shares of the company’s stock valued at $61,000 after buying an additional 877 shares during the last quarter. Captrust Financial Advisors raised its position in shares of NextGen Healthcare by 61.5% during the first quarter. Captrust Financial Advisors now owns 4,255 shares of the company’s stock valued at $89,000 after buying an additional 1,620 shares during the last quarter. Finally, Point72 Middle East FZE acquired a new position in shares of NextGen Healthcare during the fourth quarter valued at about $97,000. 78.73% of the stock is currently owned by institutional investors and hedge funds.

About NextGen Healthcare

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.