Nextgen Healthcare (NXGN) Price Target Cut to $16.00

Nextgen Healthcare (NASDAQ:NXGN) had its target price decreased by KeyCorp from $17.00 to $16.00 in a research report sent to investors on Wednesday. KeyCorp currently has an underweight rating on the stock. KeyCorp also issued estimates for Nextgen Healthcare’s Q3 2019 earnings at $0.10 EPS.

Separately, Cantor Fitzgerald reduced their target price on shares of Nextgen Healthcare from $26.00 to $23.00 and set an overweight rating for the company in a report on Wednesday.

NASDAQ:NXGN traded up $0.02 during trading hours on Wednesday, reaching $15.09. 379,329 shares of the company’s stock were exchanged, compared to its average volume of 323,131. The stock has a market capitalization of $948.48 million, a price-to-earnings ratio of 26.47, a PEG ratio of 2.79 and a beta of 0.93. Nextgen Healthcare has a 12 month low of $12.24 and a 12 month high of $23.73. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.15 and a current ratio of 1.33.

Nextgen Healthcare (NASDAQ:NXGN) last issued its earnings results on Tuesday, October 30th. The company reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.05. The firm had revenue of $130.30 million during the quarter, compared to analysts’ expectations of $134.55 million. Nextgen Healthcare had a net margin of 1.17% and a return on equity of 10.23%. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the firm posted $0.22 earnings per share. On average, sell-side analysts expect that Nextgen Healthcare will post 0.6 EPS for the current fiscal year.

Large investors have recently modified their holdings of the stock. Bank of Montreal Can bought a new stake in Nextgen Healthcare during the third quarter worth approximately $165,000. Hanson & Doremus Investment Management bought a new stake in Nextgen Healthcare during the third quarter worth approximately $208,000. Public Employees Retirement Association of Colorado bought a new stake in Nextgen Healthcare during the third quarter worth approximately $239,000. NJ State Employees Deferred Compensation Plan bought a new stake in Nextgen Healthcare during the third quarter worth approximately $402,000. Finally, Louisiana State Employees Retirement System bought a new stake in Nextgen Healthcare during the third quarter worth approximately $420,000. Hedge funds and other institutional investors own 69.18% of the company’s stock.

Nextgen Healthcare Company Profile

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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