Nextgen Healthcare (NXGN) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Nextgen Healthcare (NASDAQ:NXGN) from a sell rating to a hold rating in a report published on Wednesday morning.

According to Zacks, “NextGen outperformed its industry in a year’s time. The company rides on Software, hardware and other non-recurring segment. Management currently foresees solid growth prospects in the RCM pipeline as well. The NextGen population health analytics suite and NextGen mobile platform registered significant growth. Solid bookings growth deserve mention. For investors’ notice, the company expects high-single digit revenue growth by fiscal 2020. NextGen announced the availability of Quality/Cost Fusion – a new Population Health analytics capability. Quality/Cost Fusion is a part of NextGen Population Health platform – a modular, cloud-based solution. On the negative side, NextGen’s lowered guidance for fiscal 2019 indicates looming concerns ahead. The company’s plummeting gross profit is a negative. Sluggishness in the recurring revenue segment is a woe. The company faces stiff competition in MedTech space.”

Other equities analysts have also recently issued reports about the company. TheStreet raised Nextgen Healthcare from a c rating to a b- rating in a report on Thursday, November 1st. Morgan Stanley raised Nextgen Healthcare from an underweight rating to an equal weight rating and increased their target price for the stock from $12.00 to $16.00 in a report on Thursday, November 1st. Cantor Fitzgerald dropped their target price on Nextgen Healthcare from $26.00 to $23.00 and set an overweight rating for the company in a report on Wednesday, October 31st. Finally, KeyCorp dropped their target price on Nextgen Healthcare from $17.00 to $16.00 and set an underweight rating for the company in a report on Wednesday, October 31st. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. Nextgen Healthcare has an average rating of Hold and a consensus price target of $18.33.

Nextgen Healthcare stock traded down $0.24 during trading hours on Wednesday, hitting $17.53. The stock had a trading volume of 1,216 shares, compared to its average volume of 238,843. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 30.79, a price-to-earnings-growth ratio of 3.53 and a beta of 0.97. Nextgen Healthcare has a fifty-two week low of $12.24 and a fifty-two week high of $23.73.

Nextgen Healthcare (NASDAQ:NXGN) last posted its quarterly earnings results on Tuesday, October 30th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.19 by $0.05. The firm had revenue of $130.30 million during the quarter, compared to analysts’ expectations of $134.55 million. Nextgen Healthcare had a return on equity of 10.23% and a net margin of 1.17%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.22 EPS. On average, analysts expect that Nextgen Healthcare will post 0.57 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can bought a new stake in Nextgen Healthcare during the 3rd quarter worth approximately $165,000. BlueMountain Capital Management LLC bought a new stake in Nextgen Healthcare during the 3rd quarter worth approximately $205,000. Quantbot Technologies LP bought a new stake in Nextgen Healthcare during the 3rd quarter worth approximately $207,000. Hanson & Doremus Investment Management bought a new stake in Nextgen Healthcare during the 3rd quarter worth approximately $208,000. Finally, Piedmont Investment Advisors Inc. bought a new stake in Nextgen Healthcare during the 3rd quarter worth approximately $222,000. Institutional investors and hedge funds own 68.75% of the company’s stock.

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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