Nextgen Healthcare (NASDAQ:NXGN) had its target price increased by investment analysts at Piper Sandler from $17.00 to $23.00 in a research report issued on Friday, The Fly reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target points to a potential upside of 57.32% from the company’s previous close.
A number of other brokerages have also commented on NXGN. Jefferies Financial Group decreased their price target on shares of Nextgen Healthcare from $14.00 to $11.50 and set a “hold” rating on the stock in a report on Wednesday, April 22nd. SVB Leerink initiated coverage on shares of Nextgen Healthcare in a report on Monday, April 13th. They issued a “market perform” rating and a $12.00 price target on the stock. Cantor Fitzgerald cut their price objective on shares of Nextgen Healthcare from $17.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, May 5th. Royal Bank of Canada initiated coverage on shares of Nextgen Healthcare in a research note on Monday, April 20th. They issued a “sector perform” rating and a $11.00 price objective for the company. Finally, Robert W. Baird cut their price objective on shares of Nextgen Healthcare from $16.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $12.46.
Shares of NXGN stock traded up $2.08 during trading on Friday, reaching $14.62. 1,035,280 shares of the company’s stock traded hands, compared to its average volume of 254,836. The company has a market capitalization of $975.34 million, a P/E ratio of 162.44, a PEG ratio of 5.85 and a beta of 0.99. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.42. The firm’s 50-day moving average is $10.96 and its 200 day moving average is $11.42. Nextgen Healthcare has a 1 year low of $5.10 and a 1 year high of $18.49.
Institutional investors and hedge funds have recently made changes to their positions in the business. Advisor Group Holdings Inc. purchased a new position in shares of Nextgen Healthcare in the first quarter worth approximately $37,000. Pacer Advisors Inc. purchased a new position in Nextgen Healthcare during the first quarter valued at approximately $80,000. Quantitative Investment Management LLC purchased a new position in Nextgen Healthcare during the first quarter valued at approximately $108,000. Diversified Trust Co purchased a new position in Nextgen Healthcare during the second quarter valued at approximately $117,000. Finally, Man Group plc purchased a new position in Nextgen Healthcare during the fourth quarter valued at approximately $249,000. 73.22% of the stock is 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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