Louisiana State Employees Retirement System raised its stake in NextGen Healthcare, Inc. (NASDAQ:NXGN – Free Report) by 12.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,100 shares of the company’s stock after acquiring an additional 3,200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in NextGen Healthcare were worth $456,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Tower Research Capital LLC TRC lifted its stake in shares of NextGen Healthcare by 146.4% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,363 shares of the company’s stock valued at $41,000 after purchasing an additional 1,404 shares during the period. Altshuler Shaham Ltd raised its position in shares of NextGen Healthcare by 98.7% in the fourth quarter. Altshuler Shaham Ltd now owns 3,205 shares of the company’s stock worth $60,000 after acquiring an additional 1,592 shares during the period. Captrust Financial Advisors raised its position in shares of 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 acquiring an additional 1,620 shares during the period. Point72 Middle East FZE acquired a new stake in shares of NextGen Healthcare during the 4th quarter valued at about $97,000. Finally, UBS Group AG increased its stake in shares of NextGen Healthcare by 211.1% in the 3rd quarter. UBS Group AG now owns 6,639 shares of the company’s stock valued at $118,000 after purchasing an additional 4,505 shares in the last quarter. Hedge funds and other institutional investors own 76.65% of the company’s stock.
Analysts Set New Price Targets
Several analysts have commented on NXGN shares. 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 report on Thursday, September 7th. Cantor Fitzgerald lowered shares of NextGen Healthcare from an “overweight” rating to a “neutral” rating in a report on Thursday, September 7th. StockNews.com assumed coverage on shares of NextGen Healthcare in a research report on Tuesday. They set a “hold” rating for the company. Guggenheim lowered shares of NextGen Healthcare from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 6th. Finally, Stephens downgraded shares of NextGen Healthcare from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, September 6th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $22.41.
NextGen Healthcare Stock Up 0.1 %
Shares of NASDAQ NXGN opened at $23.83 on Friday. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.65. The company has a 50-day moving average of $20.66 and a 200 day moving average of $18.00. NextGen Healthcare, Inc. has a 12-month low of $15.23 and a 12-month high of $23.85. The stock has a market cap of $1.60 billion, a PE ratio of 794.33 and a beta of 0.87.
NextGen Healthcare (NASDAQ:NXGN – Get Free Report) last posted its quarterly earnings results on Monday, July 24th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.22 by $0.02. The firm had revenue of $178.21 million during 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 earnings per share. As a group, sell-side analysts predict that NextGen Healthcare, Inc. will post 0.68 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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