NextGen Healthcare (NASDAQ:NXGN) Sets New 52-Week High at $23.69

Posted by Defense World Staff on Sep 21st, 2023

NextGen Healthcare, Inc. (NASDAQ:NXGN – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $23.69 and last traded at $23.62, with a volume of 39360 shares trading hands. The stock had previously closed at $23.63.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on NXGN shares. Guggenheim lowered NextGen Healthcare from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 6th. Royal Bank of Canada raised their price objective on NextGen Healthcare from $17.00 to $23.95 and gave the company a “sector perform” rating in a research note on Thursday, September 7th. Stephens lowered NextGen Healthcare from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, September 6th. StockNews.com began coverage on NextGen Healthcare in a research note on Saturday, September 16th. They issued a “hold” rating for the company. Finally, Cantor Fitzgerald downgraded NextGen Healthcare from an “overweight” rating to a “neutral” rating in a report on Thursday, September 7th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $22.41.

Get Our Latest Stock Report on NextGen Healthcare

NextGen Healthcare Price Performance

The firm has a fifty day simple moving average of $18.52 and a 200 day simple moving average of $17.32. The company has a market capitalization of $1.59 billion, a PE ratio of 789.00 and a beta of 0.99. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.23 and a current ratio of 2.23.

NextGen Healthcare (NASDAQ:NXGN – Get Free Report) last announced its earnings results on Monday, July 24th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. The business had revenue of $178.21 million for the quarter, compared to analysts’ expectations of $173.45 million. NextGen Healthcare had a return on equity of 10.09% and a net margin of 0.35%. The business’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.06 EPS. Equities analysts anticipate that NextGen Healthcare, Inc. will post 0.68 EPS for the current year.

Institutional Trading of NextGen Healthcare

Several hedge funds and other institutional investors have recently bought and sold shares of NXGN. American Century Companies Inc. boosted its position in NextGen Healthcare by 2.1% during the 1st quarter. American Century Companies Inc. now owns 50,366 shares of the company’s stock valued at $1,053,000 after acquiring an additional 1,031 shares in the last quarter. Natixis Advisors L.P. acquired a new stake in shares of NextGen Healthcare in the 1st quarter worth $280,000. MetLife Investment Management LLC boosted its position in shares of NextGen Healthcare by 49.4% in the 1st quarter. MetLife Investment Management LLC now owns 32,724 shares of the company’s stock worth $684,000 after purchasing an additional 10,823 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of NextGen Healthcare by 11.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 48,421 shares of the company’s stock worth $1,012,000 after purchasing an additional 5,004 shares in the last quarter. Finally, APG Asset Management N.V. acquired a new stake in shares of NextGen Healthcare in the 1st quarter worth $958,000. Institutional investors own 76.65% of the company’s stock.

NextGen Healthcare Company Profile

(Get Free Report)

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.