Nextgen Healthcare (NXGN) – Research Analysts’ Weekly Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of Nextgen Healthcare (NASDAQ: NXGN) in the last few weeks:

  • 8/15/2019 – Nextgen Healthcare was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 8/14/2019 – Nextgen Healthcare was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating.
  • 8/1/2019 – Nextgen Healthcare was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 7/30/2019 – Nextgen Healthcare was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. They now have a $17.00 price target on the stock. According to Zacks, “NextGen exited the fiscal first quarter on a dull note, with earnings and revenues missing the consensus mark. However, the company witnessed significant deal-size growth in the quarter under review. Solid bookings growth in the quarter deserves a mention as well. Impressive rates of client addition have worked well for NextGen. Expansion in operating margin is an added positive. On the flip side, the company’s Recurring and Software, Hardware and Other non-recurring revenues were soft in the quarter under review. The company’s top line also fell on a year-over-year basis. Significant contraction in gross margin raises concern. Slashed guidance for fiscal 2020 raises concern as well. Additionally, NextGen faces stiff rivalry in the MedTech space. The stock has underperformed the industry over the past year.”
  • 7/26/2019 – Nextgen Healthcare was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 7/25/2019 – Nextgen Healthcare was downgraded by analysts at Dougherty & Co from a “neutral” rating to a “sell” rating.

Shares of Nextgen Healthcare stock traded up $0.01 on Monday, hitting $14.81. 203,089 shares of the company were exchanged, compared to its average volume of 284,496. The stock has a market capitalization of $944.77 million, a price-to-earnings ratio of 24.28, a price-to-earnings-growth ratio of 2.70 and a beta of 1.01. The company has a 50-day moving average price of $18.06 and a 200 day moving average price of $18.17. Nextgen Healthcare Inc has a 1-year low of $13.60 and a 1-year high of $23.17. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.13.

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 Thomson Reuters’ consensus estimate of $0.15 by ($0.05). The company had revenue of $131.86 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.19 earnings per share. Research analysts forecast that Nextgen Healthcare Inc will post 0.62 EPS for the current year.

In related news, Director George H. Bristol sold 13,873 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $19.25, for a total value of $267,055.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sheldon Razin sold 4,018 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $19.06, for a total value of $76,583.08. The disclosure for this sale can be found here. In the last three months, insiders sold 19,004 shares of company stock worth $364,819. 18.50% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Atria Investments LLC purchased a new position in Nextgen Healthcare in the second quarter valued at $312,000. Parallel Advisors LLC purchased a new position in Nextgen Healthcare in the first quarter valued at $26,000. Meeder Asset Management Inc. boosted its stake in Nextgen Healthcare by 493.9% in the second quarter. Meeder Asset Management Inc. now owns 5,517 shares of the company’s stock valued at $110,000 after acquiring an additional 4,588 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in Nextgen Healthcare in the first quarter valued at $109,000. Finally, Convergence Investment Partners LLC acquired a new position in Nextgen Healthcare in the first quarter valued at $152,000. 70.18% of the stock is currently owned by hedge funds and other institutional investors.

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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