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

Shares of NextGen Healthcare, Inc. (NASDAQ:NXGN) have earned an average recommendation of “Hold” from the nine brokerages that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $21.00.

NXGN has been the subject of several recent research reports. Piper Sandler reaffirmed 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. initiated coverage on NextGen Healthcare in a research report on Thursday, April 29th. They set an “underweight” rating for the company. Finally, Cantor Fitzgerald raised NextGen Healthcare from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $20.00 to $23.00 in a research report on Friday, February 19th.

In related news, CEO John R. Frantz sold 25,000 shares of the stock in a transaction that occurred on Monday, March 22nd. The stock was sold at an average price of $18.99, for a total transaction of $474,750.00. Following the completion of the transaction, the chief executive officer now directly owns 438,328 shares of the company’s stock, valued at $8,323,848.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mitchell Waters sold 5,102 shares of the firm’s stock in a transaction that occurred on Thursday, June 3rd. The shares were sold at an average price of $17.09, for a total value of $87,193.18. Insiders have sold 39,102 shares of company stock valued at $730,243 over the last three months. Insiders own 18.70% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of NextGen Healthcare by 5.3% in the first quarter. BlackRock Inc. now owns 9,476,940 shares of the company’s stock valued at $171,532,000 after buying an additional 475,137 shares during the last quarter. Kennedy Capital Management Inc. lifted its position in shares of NextGen Healthcare by 61.0% in the first quarter. Kennedy Capital Management Inc. now owns 1,430,815 shares of the company’s stock valued at $25,898,000 after buying an additional 541,977 shares during the last quarter. Norges Bank acquired a new stake in shares of NextGen Healthcare in the fourth quarter valued at approximately $23,686,000. Geode Capital Management LLC lifted its position in shares of NextGen Healthcare by 9.5% in the first quarter. Geode Capital Management LLC now owns 1,204,533 shares of the company’s stock valued at $21,802,000 after buying an additional 104,454 shares during the last quarter. Finally, Smith Graham & Co. Investment Advisors LP lifted its position in shares of NextGen Healthcare by 6.8% in the first quarter. Smith Graham & Co. Investment Advisors LP now owns 961,906 shares of the company’s stock valued at $17,411,000 after buying an additional 61,323 shares during the last quarter. 74.10% of the stock is owned by institutional investors.

Shares of NextGen Healthcare stock opened at $17.20 on Tuesday. NextGen Healthcare has a 1 year low of $9.67 and a 1 year high of $23.80. The stock has a 50-day simple moving average of $18.12. The company has a market capitalization of $1.15 billion, a P/E ratio of 114.67, a P/E/G ratio of 3.13 and a beta of 1.17.

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

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.

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Analyst Recommendations for NextGen Healthcare (NASDAQ:NXGN)

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