Piper Sandler Lowers NextGen Healthcare (NASDAQ:NXGN) Price Target to $21.00

NextGen Healthcare (NASDAQ:NXGN) had its price objective cut by Piper Sandler from $23.00 to $21.00 in a report published on Friday, The Fly reports. They currently have an overweight rating on the stock.

Several other equities analysts also recently issued reports on NXGN. BidaskClub upgraded NextGen Healthcare from a hold rating to a buy rating in a research report on Thursday, October 8th. Wells Fargo & Company reiterated a hold rating on shares of NextGen Healthcare in a research report on Friday, July 31st. Cantor Fitzgerald lifted their price objective on NextGen Healthcare from $12.00 to $13.00 and gave the company a neutral rating in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft lifted their price objective on NextGen Healthcare from $9.00 to $13.00 and gave the company a hold rating in a research report on Monday, August 3rd. Finally, Morgan Stanley lifted their price objective on NextGen Healthcare from $8.00 to $12.00 and gave the company an underweight rating in a research report on Tuesday, August 11th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $13.13.

Shares of NXGN stock opened at $14.26 on Friday. The stock’s fifty day simple moving average is $13.29 and its 200 day simple moving average is $11.90. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.29 and a quick ratio of 2.29. The firm has a market cap of $950.70 million, a price-to-earnings ratio of 158.44, a P/E/G ratio of 5.74 and a beta of 1.12. NextGen Healthcare has a one year low of $5.10 and a one year high of $18.49.

NextGen Healthcare (NASDAQ:NXGN) last announced its quarterly earnings results on Thursday, October 22nd. The company reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.10. The business had revenue of $140.00 million for the quarter, compared to analyst estimates of $133.04 million. NextGen Healthcare had a return on equity of 10.60% and a net margin of 1.01%. NextGen Healthcare’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.24 EPS. On average, research analysts anticipate that NextGen Healthcare will post 0.59 earnings per share for the current year.

In related news, Director Lance Rosenzweig sold 5,700 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $14.73, for a total value of $83,961.00. Following the completion of the sale, the director now owns 55,396 shares in the company, valued at $815,983.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 18.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC acquired a new position in NextGen Healthcare in the third quarter valued at about $34,000. Advisor Group Holdings Inc. acquired a new position in NextGen Healthcare in the first quarter valued at about $37,000. Bank of Montreal Can grew its stake in NextGen Healthcare by 1,986.3% in the second quarter. Bank of Montreal Can now owns 9,910 shares of the company’s stock valued at $104,000 after acquiring an additional 9,435 shares during the period. Diversified Trust Co acquired a new position in NextGen Healthcare in the second quarter valued at about $117,000. Finally, Pacer Advisors Inc. grew its stake in NextGen Healthcare by 44.3% in the second quarter. Pacer Advisors Inc. now owns 10,810 shares of the company’s stock valued at $119,000 after acquiring an additional 3,320 shares during the period. Institutional investors and hedge funds own 74.61% of the company’s stock.

About NextGen Healthcare

NextGen Healthcare, Inc provides ambulatory-focused healthcare software and services solutions in the United States. The company offers NextGen Enterprise electronic health record (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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