Nextgen Healthcare (NASDAQ:NXGN) Rating Lowered to C+ at TheStreet

Nextgen Healthcare (NASDAQ:NXGN) was downgraded by TheStreet from a “b-” rating to a “c+” rating in a note issued to investors on Wednesday, TheStreetRatingsTable reports.

A number of other brokerages have also weighed in on NXGN. Dougherty & Co lowered shares of Nextgen Healthcare from a “neutral” rating to a “sell” rating in a research note on Thursday, July 25th. Zacks Investment Research lowered shares of Nextgen Healthcare from a “hold” rating to a “sell” rating and set a $17.00 target price on the stock. in a research note on Tuesday, July 30th. ValuEngine lowered shares of Nextgen Healthcare from a “buy” rating to a “hold” rating in a research note on Thursday. Leerink Swann raised shares of Nextgen Healthcare from a “market perform” rating to an “outperform” rating in a research note on Thursday, April 25th. Finally, Svb Leerink raised shares of Nextgen Healthcare from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $19.00 to $22.00 in a research note on Thursday, April 25th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Nextgen Healthcare currently has a consensus rating of “Hold” and an average target price of $18.83.

Shares of NXGN traded up $0.09 during trading hours on Wednesday, reaching $14.54. 1,936 shares of the company traded hands, compared to its average volume of 436,380. The company’s fifty day moving average price is $18.15 and its two-hundred day moving average price is $18.19. The company has a market capitalization of $990.21 million, a price-to-earnings ratio of 23.34, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.13. Nextgen Healthcare has a 12 month low of $13.60 and a 12 month high of $23.17.

Nextgen Healthcare (NASDAQ:NXGN) last announced its earnings results on Wednesday, July 24th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). The company had revenue of $131.86 million for the quarter, compared to the consensus estimate of $136.33 million. Nextgen Healthcare had a net margin of 4.37% and a return on equity of 10.05%. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.19 EPS. On average, analysts expect that Nextgen Healthcare will post 0.62 EPS for the current year.

In related news, Director Sheldon Razin sold 4,018 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $19.06, for a total transaction of $76,583.08. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director George H. Bristol sold 13,873 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $19.25, for a total transaction of $267,055.25. The disclosure for this sale can be found here. Insiders have sold 19,004 shares of company stock worth $364,819 in the last three months. 18.50% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of NXGN. Norges Bank bought a new stake in Nextgen Healthcare during the fourth quarter worth about $25,675,000. BlackRock Inc. boosted its stake in Nextgen Healthcare by 5.5% during the second quarter. BlackRock Inc. now owns 7,680,162 shares of the company’s stock worth $152,836,000 after acquiring an additional 398,771 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in Nextgen Healthcare during the second quarter worth about $5,652,000. Marshall Wace LLP lifted its stake in shares of Nextgen Healthcare by 166.9% in the second quarter. Marshall Wace LLP now owns 443,668 shares of the company’s stock worth $8,829,000 after buying an additional 277,463 shares in the last quarter. Finally, Prudential Financial Inc. lifted its stake in shares of Nextgen Healthcare by 109.5% in the second quarter. Prudential Financial Inc. now owns 303,908 shares of the company’s stock worth $6,047,000 after buying an additional 158,816 shares in the last quarter. 69.88% of the stock is currently owned by institutional investors and hedge funds.

Nextgen Healthcare Company Profile

NextGen Healthcare, Inc provides software, services, and analytics solutions to medical and dental group practices in the United States. The company's principal products include NextGen Enterprise EHR, which stores and maintains clinical patient information; and a workflow module, prescription management, automatic document and letter generation, patient education, referral tracking, interfaces to billing and lab systems, physician alerts and reminders, and reporting and data analysis tools.

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Analyst Recommendations for Nextgen Healthcare (NASDAQ:NXGN)

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