Stephens cut shares of NextGen Healthcare (NASDAQ:NXGN – Free Report) from an overweight rating to an equal weight rating in a report issued on Wednesday morning, FlyOnTheWall reports.
Other analysts have also issued research reports about the company. 3M reissued a maintains rating on shares of NextGen Healthcare in a report on Monday, June 12th. Piper Sandler lowered their price target on shares of NextGen Healthcare from $20.00 to $17.00 in a report on Thursday, May 18th. Royal Bank of Canada reissued a sector perform rating and issued a $17.00 price objective on shares of NextGen Healthcare in a research note on Tuesday, July 25th. Truist Financial dropped their target price on shares of NextGen Healthcare from $22.00 to $18.00 in a report on Monday, May 22nd. Finally, Guggenheim reissued a buy rating and set a $22.00 price target on shares of NextGen Healthcare in a report on Tuesday, July 25th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, NextGen Healthcare presently has an average rating of Hold and a consensus price target of $20.57.
Read Our Latest Stock Analysis on NextGen Healthcare
NextGen Healthcare Trading Up 14.6 %
NextGen Healthcare (NASDAQ:NXGN – Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $178.21 million for the quarter, compared to analysts’ expectations of $173.45 million. NextGen Healthcare had a net margin of 0.35% and a return on equity of 10.09%. The business’s quarterly revenue was up 16.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.06 EPS. Research analysts forecast that NextGen Healthcare will post 0.69 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its stake 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 buying an additional 1,404 shares during the last quarter. Altshuler Shaham Ltd boosted its position in shares of NextGen Healthcare by 98.7% during the 4th 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 during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of NextGen Healthcare by 30.4% in the second quarter. PNC Financial Services Group Inc. now owns 3,761 shares of the company’s stock valued at $61,000 after purchasing an additional 877 shares in the last quarter. Captrust Financial Advisors increased its position in NextGen Healthcare by 61.5% in the first quarter. Captrust Financial Advisors now owns 4,255 shares of the company’s stock worth $89,000 after purchasing an additional 1,620 shares during the last quarter. Finally, Point72 Middle East FZE purchased a new stake in NextGen Healthcare during the fourth quarter valued at $97,000. Hedge funds and other institutional investors own 76.65% of the company’s stock.
NextGen Healthcare Company Profile
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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