NextGen Healthcare, Inc. (NASDAQ:NXGN) Receives $21.00 Consensus Price Target from Analysts

NextGen Healthcare, Inc. (NASDAQ:NXGN) has received an average rating of “Hold” from the nine ratings firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $21.00.

A number of equities research analysts have commented on NXGN shares. Piper Sandler restated an “overweight” rating and set a $23.00 price objective (down from $24.00) on shares of NextGen Healthcare in a research report on Thursday, May 27th. JPMorgan Chase & Co. began coverage on NextGen Healthcare in a report on Thursday, April 29th. They set an “underweight” rating for the company. Finally, Cantor Fitzgerald upgraded NextGen Healthcare from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $20.00 to $23.00 in a report on Friday, February 19th.

Shares of NASDAQ NXGN opened at $17.20 on Tuesday. NextGen Healthcare has a one year low of $9.67 and a one year high of $23.80. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 114.67, a PEG ratio of 3.13 and a beta of 1.17. The business’s 50-day simple moving average is $18.12.

NextGen Healthcare (NASDAQ:NXGN) last announced its quarterly earnings data on Tuesday, May 25th. The company reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.02. NextGen Healthcare had a return on equity of 12.44% and a net margin of 1.71%. The firm had revenue of $144.20 million during the quarter, compared to analyst estimates of $140.13 million. During the same period last year, the company posted $0.20 EPS. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. Sell-side analysts expect that NextGen Healthcare will post 0.65 earnings per share for the current fiscal year.

In other NextGen Healthcare news, Director Craig A. Barbarosh sold 9,000 shares of NextGen Healthcare stock in a transaction that occurred on Monday, April 12th. The stock was sold at an average price of $18.70, for a total value of $168,300.00. Following the transaction, the director now directly owns 90,946 shares of the company’s stock, valued at approximately $1,700,690.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO John R. Frantz sold 25,000 shares of NextGen Healthcare stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 438,328 shares in the company, valued at $8,323,848.72. The disclosure for this sale can be found here. Insiders sold a total of 39,102 shares of company stock worth $730,243 over the last three months. 18.70% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Truvestments Capital LLC bought a new position in NextGen Healthcare in the 1st quarter worth approximately $37,000. Vantage Consulting Group Inc bought a new position in NextGen Healthcare in the 4th quarter worth approximately $46,000. Captrust Financial Advisors increased its position in NextGen Healthcare by 2,393.3% in the 1st quarter. Captrust Financial Advisors now owns 2,618 shares of the company’s stock worth $47,000 after buying an additional 2,513 shares during the period. First Horizon Advisors Inc. increased its position in NextGen Healthcare by 286.2% in the 1st quarter. First Horizon Advisors Inc. now owns 3,024 shares of the company’s stock worth $55,000 after buying an additional 2,241 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in NextGen Healthcare by 141.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,860 shares of the company’s stock worth $143,000 after buying an additional 4,611 shares during the period. 74.10% of the stock is currently owned by institutional investors.

NextGen Healthcare Company Profile

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.

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Analyst Recommendations for NextGen Healthcare (NASDAQ:NXGN)

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