Analysts Set NextGen Healthcare, Inc. (NASDAQ:NXGN) Target Price at $21.00

NextGen Healthcare, Inc. (NASDAQ:NXGN) has been given a consensus recommendation of “Hold” by the eight ratings firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $21.00.

NXGN has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of NextGen Healthcare in a research note on Thursday, June 24th. Colliers Securities reissued a “buy” rating and issued a $21.00 target price on shares of NextGen Healthcare in a research note on Friday, July 30th. Finally, Royal Bank of Canada reduced their target price on NextGen Healthcare from $21.00 to $19.00 and set a “sector perform” rating on the stock in a research note on Friday, July 30th.

In related news, Director Craig A. Barbarosh sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 3rd. The shares were sold at an average price of $16.14, for a total transaction of $145,260.00. Following the completion of the sale, the director now owns 72,946 shares of the company’s stock, valued at $1,177,348.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 18.50% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Lazard Asset Management LLC bought a new stake in NextGen Healthcare in the 2nd quarter worth approximately $30,000. Truvestments Capital LLC bought a new stake in NextGen Healthcare in the 1st quarter worth approximately $37,000. Captrust Financial Advisors grew 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 purchasing an additional 2,513 shares during the period. First Horizon Advisors Inc. grew its position in shares of NextGen Healthcare by 286.2% during the 1st quarter. First Horizon Advisors Inc. now owns 3,024 shares of the company’s stock valued at $55,000 after acquiring an additional 2,241 shares during the period. Finally, Royal Bank of Canada grew its position in shares of NextGen Healthcare by 214.9% during the 2nd quarter. Royal Bank of Canada now owns 5,617 shares of the company’s stock valued at $93,000 after acquiring an additional 3,833 shares during the period. 74.11% of the stock is owned by institutional investors.

NextGen Healthcare stock traded up $0.08 during trading on Monday, hitting $14.48. The stock had a trading volume of 581 shares, compared to its average volume of 327,952. The stock has a market cap of $974.97 million, a price-to-earnings ratio of 72.00, a price-to-earnings-growth ratio of 2.73 and a beta of 1.15. The stock’s 50 day moving average is $14.96 and its two-hundred day moving average is $16.60. NextGen Healthcare has a 1 year low of $13.34 and a 1 year high of $23.80.

NextGen Healthcare (NASDAQ:NXGN) last issued its quarterly earnings data on Thursday, July 29th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.11. The company had revenue of $146.08 million for the quarter, compared to the consensus estimate of $139.97 million. NextGen Healthcare had a return on equity of 12.73% and a net margin of 2.31%. On average, sell-side analysts predict that NextGen Healthcare will post 0.65 EPS for the current fiscal year.

About NextGen Healthcare

NextGen Healthcare, Inc engages in the development and marketing of electronic health records, practice management, revenue cycle management, and interoperability solutions. It offers the core; automation and workflow; analytics, population health, and patient engagement, interoperability; managed services; professional services; and client service and support.

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Analyst Recommendations for NextGen Healthcare (NASDAQ:NXGN)

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