Nextgen Healthcare (NASDAQ:NXGN) Stock Price Down 6.7%

Nextgen Healthcare Inc (NASDAQ:NXGN) shares were down 6.7% on Wednesday . The stock traded as low as $13.99 and last traded at $14.13, approximately 686,254 shares changed hands during mid-day trading. An increase of 142% from the average daily volume of 283,670 shares. The stock had previously closed at $15.15.

Several equities research analysts have recently issued reports on NXGN shares. Dougherty & Co downgraded shares of Nextgen Healthcare from a “neutral” rating to a “sell” rating in a research report on Thursday, July 25th. Leerink Swann raised shares of Nextgen Healthcare from a “market perform” rating to an “outperform” rating in a research report on Thursday, April 25th. Svb Leerink raised shares of Nextgen Healthcare from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $19.00 to $22.00 in a research report on Thursday, April 25th. Zacks Investment Research downgraded shares of Nextgen Healthcare from a “hold” rating to a “sell” rating and set a $17.00 price objective for the company. in a research report on Tuesday, July 30th. Finally, ValuEngine raised shares of Nextgen Healthcare from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. Nextgen Healthcare currently has a consensus rating of “Hold” and an average price target of $18.83.

The company has a 50-day simple moving average of $18.24. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $1.02 billion, a P/E ratio of 23.16, a P/E/G ratio of 2.91 and a beta of 1.01.

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

In related news, Director George H. Bristol sold 13,873 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $19.25, for a total value of $267,055.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sheldon Razin sold 4,018 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $19.06, for a total transaction of $76,583.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,004 shares of company stock valued at $364,819. 18.50% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its position in shares of Nextgen Healthcare by 251.7% during the 4th quarter. Bank of America Corp DE now owns 77,406 shares of the company’s stock valued at $1,174,000 after acquiring an additional 55,397 shares during the period. Squarepoint Ops LLC bought a new stake in shares of Nextgen Healthcare in the 4th quarter worth $179,000. Municipal Employees Retirement System of Michigan bought a new stake in shares of Nextgen Healthcare in the 4th quarter worth $208,000. Dimensional Fund Advisors LP grew its stake in shares of Nextgen Healthcare by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,411,788 shares of the company’s stock worth $36,539,000 after acquiring an additional 56,278 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Nextgen Healthcare in the 4th quarter worth $25,675,000. 69.88% of the stock is owned by institutional investors and hedge funds.

Nextgen Healthcare Company Profile (NASDAQ:NXGN)

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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