Exchange Traded Concepts LLC cut its stake in shares of NextGen Healthcare, Inc. (NASDAQ:NXGN – Free Report) by 3.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,563 shares of the company’s stock after selling 1,146 shares during the quarter. Exchange Traded Concepts LLC owned about 0.05% of NextGen Healthcare worth $561,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of NXGN. Texas Permanent School Fund Corp increased its position in shares of NextGen Healthcare by 30.3% during the first quarter. Texas Permanent School Fund Corp now owns 47,959 shares of the company’s stock valued at $835,000 after acquiring an additional 11,144 shares in the last quarter. AlphaQ Advisors LLC bought a new stake in shares of NextGen Healthcare during the fourth quarter valued at approximately $455,000. Mackenzie Financial Corp increased its position in shares of NextGen Healthcare by 277.7% during the first quarter. Mackenzie Financial Corp now owns 40,547 shares of the company’s stock valued at $706,000 after acquiring an additional 29,811 shares in the last quarter. Alpha DNA Investment Management LLC bought a new stake in shares of NextGen Healthcare during the first quarter valued at approximately $1,051,000. Finally, ExodusPoint Capital Management LP bought a new stake in NextGen Healthcare in the 1st quarter worth about $3,725,000. 76.65% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts recently commented on NXGN shares. StockNews.com started coverage on NextGen Healthcare in a report on Monday, October 2nd. They issued a “hold” rating for the company. Stephens downgraded NextGen Healthcare from an “overweight” rating to an “equal weight” rating in a report on Wednesday, September 6th. Guggenheim downgraded shares of NextGen Healthcare from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 6th. 3M reaffirmed a “maintains” rating on shares of NextGen Healthcare in a research report on Monday, June 12th. Finally, Truist Financial lifted their target price on shares of NextGen Healthcare from $18.00 to $23.95 and gave the stock a “hold” rating in a research report on Friday, September 8th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $22.41.
NextGen Healthcare Trading Down 0.1 %
Shares of NXGN stock opened at $23.75 on Friday. NextGen Healthcare, Inc. has a 1 year low of $15.23 and a 1 year high of $23.85. The firm has a fifty day moving average price of $20.23 and a 200-day moving average price of $17.86. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.23 and a quick ratio of 2.23. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 791.67 and a beta of 0.87.
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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. NextGen Healthcare had a net margin of 0.35% and a return on equity of 10.09%. The firm had revenue of $178.21 million during the quarter, compared to the consensus estimate of $173.45 million. During the same quarter in the previous year, the firm posted $0.06 EPS. The company’s revenue for the quarter was up 16.2% compared to the same quarter last year. As a group, equities analysts predict that NextGen Healthcare, Inc. will post 0.69 earnings per share for the current year.
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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