NextGen Healthcare, Inc. (NASDAQ:NXGN – Get Free Report) was the target of unusually large options trading on Wednesday. Stock traders acquired 3,986 call options on the company. This represents an increase of approximately 1,404% compared to the typical daily volume of 265 call options.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of NXGN. Tower Research Capital LLC TRC raised its position in NextGen Healthcare by 146.4% during the first quarter. Tower Research Capital LLC TRC now owns 2,363 shares of the company’s stock valued at $41,000 after acquiring an additional 1,404 shares in the last quarter. Altshuler Shaham Ltd raised its position in NextGen Healthcare by 98.7% during the fourth quarter. Altshuler Shaham Ltd now owns 3,205 shares of the company’s stock valued at $60,000 after acquiring an additional 1,592 shares in the last quarter. PNC Financial Services Group Inc. raised its position in NextGen Healthcare by 30.4% during the second quarter. PNC Financial Services Group Inc. now owns 3,761 shares of the company’s stock valued at $61,000 after acquiring an additional 877 shares in the last quarter. Captrust Financial Advisors raised its position in NextGen Healthcare by 61.5% during the first quarter. Captrust Financial Advisors now owns 4,255 shares of the company’s stock valued at $89,000 after acquiring an additional 1,620 shares in the last quarter. Finally, Point72 Middle East FZE purchased a new stake in shares of NextGen Healthcare in the fourth quarter valued at approximately $97,000. 76.65% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms have weighed in on NXGN. StockNews.com upgraded NextGen Healthcare from a “hold” rating to a “buy” rating in a research note on Wednesday, August 30th. Guggenheim lowered NextGen Healthcare from a “buy” rating to a “neutral” rating in a research note on Wednesday. Truist Financial cut their price target on NextGen Healthcare from $22.00 to $18.00 in a research note on Monday, May 22nd. 3M restated a “maintains” rating on shares of NextGen Healthcare in a research note on Monday, June 12th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $17.00 price objective on shares of NextGen Healthcare in a research report on Tuesday, July 25th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $20.57.
NextGen Healthcare Price Performance
Shares of NASDAQ NXGN opened at $23.56 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.23 and a current ratio of 2.23. The company has a market cap of $1.58 billion, a PE ratio of 785.33 and a beta of 0.99. The business has a 50-day simple moving average of $17.03 and a two-hundred day simple moving average of $16.95. NextGen Healthcare has a fifty-two week low of $15.23 and a fifty-two week high of $23.60.
NextGen Healthcare (NASDAQ:NXGN – Get Free Report) last issued its quarterly earnings results on Monday, July 24th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02. NextGen Healthcare had a return on equity of 10.09% and a net margin of 0.35%. The business had revenue of $178.21 million during the quarter, compared to the consensus estimate of $173.45 million. During the same quarter last year, the company earned $0.06 earnings per share. The company’s quarterly revenue was up 16.2% on a year-over-year basis. As a group, equities analysts expect that NextGen Healthcare will post 0.69 EPS for the current fiscal year.
About NextGen Healthcare
NextGen Healthcare, Inc provides healthcare technology solutions in the United States. The company offers clinical care solutions, including NextGen Enterprise EHR; financial solutions, such as NextGen Enterprise PM; patient engagement solutions comprising NextGen Virtual Visits; integrated clinical care and financial solutions consisting of NextGen Office; interoperability solutions that include NextGen Share and Mirth Connect; data and analytics solutions, which comprise NextGen Health Data Hub; and value based care solutions, including NextGen Population Health Solutions.
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