Zacks: Nextgen Healthcare Inc (NXGN) Given Average Rating of “Hold” by Brokerages

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Shares of Nextgen Healthcare Inc (NASDAQ:NXGN) have received a consensus broker rating score of 2.85 (Hold) from the thirteen analysts that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong sell rating, eight have given a hold rating and three have assigned a strong buy rating to the company. Nextgen Healthcare’s rating score has improved by 7.8% in the last 90 days as a result of various analysts’ ratings changes.

Brokerages have set a 12-month consensus target price of $18.38 for the company and are predicting that the company will post $0.15 EPS for the current quarter, according to Zacks. Zacks has also assigned Nextgen Healthcare an industry rank of 102 out of 256 based on the ratings given to its competitors.

NXGN has been the subject of a number of analyst reports. TheStreet raised Nextgen Healthcare from a “c” rating to a “b-” rating in a report on Thursday, November 1st. Cantor Fitzgerald reissued a “buy” rating and set a $23.00 price objective on shares of Nextgen Healthcare in a report on Thursday, December 6th. Dougherty & Co raised Nextgen Healthcare from a “neutral” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Friday. Morgan Stanley raised Nextgen Healthcare from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $12.00 to $16.00 in a report on Thursday, November 1st. Finally, Zacks Investment Research raised Nextgen Healthcare from a “sell” rating to a “hold” rating in a report on Monday, January 7th.

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Nextgen Healthcare in the third quarter valued at about $148,229,000. Vanguard Group Inc bought a new position in shares of Nextgen Healthcare in the third quarter valued at about $106,770,000. Vanguard Group Inc. bought a new position in shares of Nextgen Healthcare in the third quarter valued at about $106,770,000. Dimensional Fund Advisors LP bought a new position in shares of Nextgen Healthcare in the third quarter valued at about $47,298,000. Finally, Investment Counselors of Maryland LLC bought a new position in shares of Nextgen Healthcare in the third quarter valued at about $24,953,000. 68.73% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ NXGN opened at $16.66 on Friday. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 29.23, a P/E/G ratio of 3.15 and a beta of 1.07. Nextgen Healthcare has a 52-week low of $12.24 and a 52-week high of $23.73. 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 (NASDAQ:NXGN) last issued its quarterly earnings data on Tuesday, October 30th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.05. The company 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 business’s revenue was down 1.7% on a year-over-year basis. During the same period last year, the business earned $0.22 earnings per share. As a group, sell-side analysts predict that Nextgen Healthcare will post 0.57 earnings per share for the current year.

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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