Nextgen Healthcare (NASDAQ:NXGN) had its price objective reduced by investment analysts at Cantor Fitzgerald from $26.00 to $23.00 in a research report issued on Wednesday, October 31st, The Fly reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 45.02% from the company’s current price.
NASDAQ NXGN traded up $0.40 on Wednesday, hitting $15.86. 84,047 shares of the company’s stock were exchanged, compared to its average volume of 341,714. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.33 and a quick ratio of 1.33. Nextgen Healthcare has a 52 week low of $12.24 and a 52 week high of $23.73. The stock has a market capitalization of $999.77 million, a PE ratio of 27.82, a PEG ratio of 3.04 and a beta of 0.93.
Nextgen Healthcare (NASDAQ:NXGN) last released its earnings results on Tuesday, October 30th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.05. Nextgen Healthcare had a return on equity of 10.23% and a net margin of 1.17%. The firm had revenue of $130.30 million during the quarter, compared to analysts’ expectations of $134.55 million. During the same period in the prior year, the company earned $0.22 earnings per share. The company’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, sell-side analysts expect that Nextgen Healthcare will post 0.57 earnings per share for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in NXGN. BlackRock Inc. acquired a new stake in Nextgen Healthcare in the third quarter valued at $148,229,000. Dimensional Fund Advisors LP acquired a new stake in Nextgen Healthcare in the third quarter valued at $47,298,000. Investment Counselors of Maryland LLC acquired a new stake in Nextgen Healthcare in the third quarter valued at $24,953,000. Elk Creek Partners LLC acquired a new stake in Nextgen Healthcare in the third quarter valued at $14,990,000. Finally, Bank of New York Mellon Corp acquired a new stake in Nextgen Healthcare in the third quarter valued at $13,249,000. Institutional investors own 68.16% of the company’s stock.
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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