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.
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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