Zacks Investment Research upgraded shares of Nextgen Healthcare (NASDAQ:NXGN) from a sell rating to a hold rating in a research note issued to investors on Friday.

According to Zacks, “NextGen outperformed its industry in a year’s time. The company rides on Software, hardware and other non-recurring segment. Management currently foresees solid growth prospects in the RCM pipeline as well. The NextGen population health analytics suite and NextGen mobile platform registered significant growth lately. Solid bookings growth deserves mention. For investors’ notice, the company expects high-single digit revenue growth by fiscal 2020. NextGen Healthcare announced the availability of Quality/Cost Fusion – a new Population Health analytics capability. Quality/Cost Fusion is a part of NextGen Population Health platform – a modular, cloud-based solution. On the negative side, lowered guidance for fiscal 2019 indicates looming concerns ahead. The company’s plummeting gross profit is a negative as well. Sluggishness in the recurring revenue segment is a woe. The company faces stiff competition in MedTech space.”

Several other analysts have also weighed in on the company. Cantor Fitzgerald lowered their target price on Nextgen Healthcare from $26.00 to $23.00 and set an overweight rating on the stock in a report on Wednesday, October 31st. Morgan Stanley raised Nextgen Healthcare from an underweight rating to an equal weight rating and upped their target price for the company from $12.00 to $16.00 in a report on Thursday, November 1st. KeyCorp decreased their price objective on Nextgen Healthcare from $17.00 to $16.00 and set an underweight rating on the stock in a research note on Wednesday, October 31st. Finally, TheStreet raised Nextgen Healthcare from a c rating to a b- rating in a research note on Thursday, November 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $18.33.

Nextgen Healthcare stock opened at $16.00 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 28.07, a PEG ratio of 3.11 and a beta of 0.93. Nextgen Healthcare has a fifty-two week low of $12.24 and a fifty-two week high of $23.73.

Nextgen Healthcare (NASDAQ:NXGN) last posted its earnings results on Tuesday, October 30th. The company reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.05. The company had revenue of $130.30 million for the quarter, compared to analyst estimates of $134.55 million. Nextgen Healthcare had a return on equity of 10.23% and a net margin of 1.17%. Nextgen Healthcare’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.22 earnings per share. Equities analysts predict that Nextgen Healthcare will post 0.57 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can acquired a new stake in shares of Nextgen Healthcare during the third quarter valued at $165,000. BlueMountain Capital Management LLC acquired a new stake in shares of Nextgen Healthcare during the third quarter valued at $205,000. Quantbot Technologies LP acquired a new stake in shares of Nextgen Healthcare during the third quarter valued at $207,000. Hanson & Doremus Investment Management acquired a new stake in shares of Nextgen Healthcare during the third quarter valued at $208,000. Finally, Piedmont Investment Advisors Inc. acquired a new stake in shares of Nextgen Healthcare during the third quarter valued at $222,000. 68.16% of the stock is currently owned by institutional investors and hedge funds.

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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