Nextgen Healthcare Inc (NXGN) Short Interest Down 39.5% in January

Nextgen Healthcare Inc (NASDAQ:NXGN) was the target of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 1,265,414 shares, a decrease of 39.5% from the January 15th total of 2,091,584 shares. Currently, 2.7% of the company’s stock are short sold. Based on an average daily volume of 336,806 shares, the days-to-cover ratio is presently 3.8 days.

NXGN has been the topic of a number of recent research reports. TheStreet upgraded shares of Nextgen Healthcare from a “c” rating to a “b-” rating in a report on Thursday, November 1st. Cantor Fitzgerald restated a “buy” rating and issued a $23.00 price objective on shares of Nextgen Healthcare in a report on Thursday, December 6th. Dougherty & Co upgraded shares of Nextgen Healthcare from a “neutral” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Friday, January 11th. Morgan Stanley upgraded shares of Nextgen Healthcare from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $12.00 to $16.00 in a report on Thursday, November 1st. Finally, Zacks Investment Research upgraded shares of Nextgen Healthcare from a “sell” rating to a “hold” rating in a report on Monday, January 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $18.50.

NASDAQ:NXGN opened at $18.19 on Thursday. 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 0.07, a quick ratio of 1.31 and a current ratio of 1.32. The company has a market cap of $1.11 billion, a PE ratio of 31.81, a PEG ratio of 3.37 and a beta of 1.11.

Several large investors have recently bought and sold shares of NXGN. Bank of Montreal Can purchased a new stake in shares of Nextgen Healthcare during the third quarter valued at approximately $165,000. NJ State Employees Deferred Compensation Plan purchased a new stake in shares of Nextgen Healthcare during the third quarter valued at approximately $402,000. Louisiana State Employees Retirement System purchased a new stake in shares of Nextgen Healthcare during the third quarter valued at approximately $420,000. Foundry Partners LLC purchased a new stake in shares of Nextgen Healthcare during the third quarter valued at approximately $3,534,000. Finally, Strs Ohio purchased a new stake in shares of Nextgen Healthcare during the third quarter valued at approximately $561,000. Hedge funds and other institutional investors own 68.99% of the company’s stock.

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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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