American International Group Inc. lowered its stake in NextGen Healthcare, Inc. (NASDAQ:NXGN) by 2.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 37,544 shares of the company’s stock after selling 935 shares during the period. American International Group Inc.’s holdings in NextGen Healthcare were worth $685,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Vantage Consulting Group Inc bought a new stake in NextGen Healthcare in the fourth quarter valued at approximately $46,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in NextGen Healthcare by 141.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,860 shares of the company’s stock valued at $143,000 after purchasing an additional 4,611 shares during the last quarter. ProShare Advisors LLC bought a new stake in NextGen Healthcare in the fourth quarter valued at approximately $245,000. CWM Advisors LLC raised its holdings in shares of NextGen Healthcare by 17.1% during the fourth quarter. CWM Advisors LLC now owns 15,624 shares of the company’s stock valued at $285,000 after acquiring an additional 2,286 shares in the last quarter. Finally, IndexIQ Advisors LLC raised its holdings in shares of NextGen Healthcare by 11.5% during the fourth quarter. IndexIQ Advisors LLC now owns 20,062 shares of the company’s stock valued at $366,000 after acquiring an additional 2,071 shares in the last quarter. Hedge funds and other institutional investors own 71.31% of the company’s stock.
NXGN has been the subject of a number of recent analyst reports. Morgan Stanley upped their target price on NextGen Healthcare from $14.00 to $18.00 and gave the company an “underweight” rating in a report on Thursday, January 28th. Colliers Securities restated a “buy” rating on shares of NextGen Healthcare in a report on Friday, December 11th. Deutsche Bank Aktiengesellschaft upped their target price on NextGen Healthcare from $13.00 to $19.00 and gave the company a “hold” rating in a report on Thursday, January 28th. Piper Sandler upped their target price on NextGen Healthcare from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Tuesday, February 16th. Finally, Royal Bank of Canada upped their target price on NextGen Healthcare from $14.00 to $21.00 and gave the company a “positive” rating in a report on Thursday, January 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. NextGen Healthcare currently has an average rating of “Hold” and a consensus price target of $18.81.
NextGen Healthcare (NASDAQ:NXGN) last released its earnings results on Wednesday, January 27th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. NextGen Healthcare had a return on equity of 11.28% and a net margin of 1.80%. The firm had revenue of $141.80 million for the quarter, compared to analysts’ expectations of $139.15 million. During the same period in the prior year, the firm posted $0.23 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. Equities research analysts expect that NextGen Healthcare, Inc. will post 0.67 earnings per share for the current fiscal year.
In other news, CEO John R. Frantz sold 25,000 shares of the stock in a transaction on Monday, March 22nd. The stock was sold at an average price of $18.99, for a total value of $474,750.00. Following the sale, the chief executive officer now directly owns 438,328 shares of the company’s stock, valued at $8,323,848.72. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lance Rosenzweig sold 24,000 shares of the stock in a transaction on Tuesday, February 9th. The stock was sold at an average price of $20.67, for a total value of $496,080.00. Over the last three months, insiders sold 84,446 shares of company stock worth $1,670,926. Insiders own 18.50% of the company’s stock.
About NextGen Healthcare
NextGen Healthcare, Inc provides ambulatory-focused healthcare software and services solutions in the United States. The company offers NextGen Enterprise electronic health record (EHR), which stores and maintains clinical patient information; and a workflow module, prescription management, automatic document and letter generation, patient education, referral tracking, interfaces to billing and lab systems, physician alerts and reminders, and reporting and data analysis tools.
Further Reading: What Are Treasury Bonds?
Want to see what other hedge funds are holding NXGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NextGen Healthcare, Inc. (NASDAQ:NXGN).
Receive News & Ratings for NextGen Healthcare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NextGen Healthcare and related companies with MarketBeat.com's FREE daily email newsletter.