Nextgen Healthcare (NASDAQ:NXGN) Upgraded to “Buy” at ValuEngine

ValuEngine upgraded shares of Nextgen Healthcare (NASDAQ:NXGN) from a hold rating to a buy rating in a research report sent to investors on Saturday, ValuEngine reports.

A number of other equities research analysts also recently weighed in on NXGN. TheStreet downgraded Nextgen Healthcare from a b- rating to a c+ rating in a report on Wednesday, August 14th. Jefferies Financial Group set a $16.00 target price on Nextgen Healthcare and gave the stock a hold rating in a report on Friday, August 23rd. Morgan Stanley set a $16.00 target price on Nextgen Healthcare and gave the stock a hold rating in a report on Friday, August 23rd. Dougherty & Co downgraded Nextgen Healthcare from a neutral rating to a sell rating in a report on Thursday, July 25th. Finally, KeyCorp upgraded Nextgen Healthcare from an underweight rating to a sector weight rating in a report on Thursday, August 29th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $15.86.

Shares of NXGN stock opened at $16.21 on Friday. The company has a market cap of $1.05 billion, a P/E ratio of 26.57, a PEG ratio of 4.01 and a beta of 1.06. The stock has a 50 day simple moving average of $15.15 and a two-hundred day simple moving average of $17.65. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.21 and a current ratio of 1.21. Nextgen Healthcare has a fifty-two week low of $13.60 and a fifty-two week high of $22.09.

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

A number of institutional investors have recently made changes to their positions in the business. Atria Investments LLC purchased a new position in shares of Nextgen Healthcare during the second quarter valued at approximately $312,000. Nuveen Asset Management LLC purchased a new position in shares of Nextgen Healthcare during the second quarter valued at approximately $5,652,000. Martin & Co. Inc. TN boosted its position in shares of Nextgen Healthcare by 1.8% during the second quarter. Martin & Co. Inc. TN now owns 123,667 shares of the company’s stock valued at $2,461,000 after buying an additional 2,214 shares during the last quarter. Marshall Wace LLP boosted its position in shares of Nextgen Healthcare by 166.9% during the second quarter. Marshall Wace LLP now owns 443,668 shares of the company’s stock valued at $8,829,000 after buying an additional 277,463 shares during the last quarter. Finally, Morgan Stanley boosted its position in shares of Nextgen Healthcare by 23.6% during the second quarter. Morgan Stanley now owns 350,481 shares of the company’s stock valued at $6,975,000 after buying an additional 66,899 shares during the last quarter. 70.64% of the stock is owned by hedge funds and other institutional investors.

About Nextgen Healthcare

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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