NextGen Healthcare (NASDAQ:NXGN) Hits New 52-Week High at $23.58

NextGen Healthcare, Inc. (NASDAQ:NXGN) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $23.58 and last traded at $23.53, with a volume of 4804986 shares traded. The stock had previously closed at $20.55.

Wall Street Analysts Forecast Growth

NXGN has been the topic of several research analyst reports. Cantor Fitzgerald lowered shares of NextGen Healthcare from an “overweight” rating to a “neutral” rating in a research report on Thursday. Royal Bank of Canada lifted their price target on shares of NextGen Healthcare from $17.00 to $23.95 and gave the company a “sector perform” rating in a report on Thursday. StockNews.com downgraded shares of NextGen Healthcare from a “buy” rating to a “hold” rating in a report on Thursday. 3M reaffirmed a “maintains” rating on shares of NextGen Healthcare in a research note on Monday, June 12th. Finally, Truist Financial lowered their price target on shares of NextGen Healthcare from $22.00 to $18.00 in a research report on Monday, May 22nd. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $21.56.

NextGen Healthcare Stock Performance

The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 787.00 and a beta of 0.99. The stock’s fifty day moving average is $17.18 and its 200-day moving average is $16.99. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.65.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NXGN. Credit Suisse AG lifted 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 purchasing an additional 768 shares in the last quarter. Knights of Columbus Asset Advisors LLC raised its position in NextGen Healthcare by 0.5% during the first quarter. Knights of Columbus Asset Advisors LLC now owns 150,984 shares of the company’s stock worth $2,629,000 after acquiring an additional 774 shares in the last quarter. Arizona State Retirement System raised its position in NextGen Healthcare by 5.2% during the fourth quarter. Arizona State Retirement System now owns 16,314 shares of the company’s stock worth $306,000 after acquiring an additional 810 shares in the last quarter. Great West Life Assurance Co. Can raised its position in NextGen Healthcare by 1.5% during the first quarter. Great West Life Assurance Co. Can now owns 56,314 shares of the company’s stock worth $980,000 after acquiring an additional 835 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in NextGen Healthcare by 30.4% during the second quarter. PNC Financial Services Group Inc. now owns 3,761 shares of the company’s stock worth $61,000 after acquiring an additional 877 shares in the last quarter. Institutional investors and hedge funds own 76.65% of the company’s stock.

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.