NextGen Healthcare, Inc. (NASDAQ:NXGN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of NextGen Healthcare, Inc. (NASDAQ:NXGNGet Rating) have received a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $22.75.

A number of research firms have commented on NXGN. Piper Sandler reaffirmed a “neutral” rating and set a $20.00 price target on shares of NextGen Healthcare in a research report on Friday, October 21st. Truist Financial started coverage on NextGen Healthcare in a research note on Wednesday, September 7th. They issued a “hold” rating and a $20.00 price target for the company. TheStreet raised shares of NextGen Healthcare from a “c” rating to a “b-” rating in a research report on Wednesday, October 26th. SVB Leerink upped their price objective on shares of NextGen Healthcare from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, October 26th. Finally, StockNews.com raised shares of NextGen Healthcare from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 27th.

Insiders Place Their Bets

In other news, EVP Mitchell Waters sold 3,889 shares of the company’s stock in a transaction dated Wednesday, October 26th. The shares were sold at an average price of $20.00, for a total value of $77,780.00. Following the sale, the executive vice president now directly owns 62,725 shares of the company’s stock, valued at approximately $1,254,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CTO David A. Metcalfe sold 32,372 shares of the firm’s stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $20.00, for a total transaction of $647,440.00. Following the completion of the transaction, the chief technology officer now owns 178,984 shares of the company’s stock, valued at approximately $3,579,680. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mitchell Waters sold 3,889 shares of NextGen Healthcare stock in a transaction on Wednesday, October 26th. The shares were sold at an average price of $20.00, for a total value of $77,780.00. Following the transaction, the executive vice president now owns 62,725 shares of the company’s stock, valued at approximately $1,254,500. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 78,416 shares of company stock worth $1,580,010. 4.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NextGen Healthcare

Institutional investors and hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC grew its position in NextGen Healthcare by 10,233.1% during the 3rd quarter. Lazard Asset Management LLC now owns 1,065,959 shares of the company’s stock valued at $18,867,000 after purchasing an additional 1,055,643 shares during the last quarter. Fort Washington Investment Advisors Inc. OH purchased a new stake in shares of NextGen Healthcare during the third quarter valued at approximately $10,592,000. Invesco Ltd. increased its position in shares of NextGen Healthcare by 104.3% during the first quarter. Invesco Ltd. now owns 704,170 shares of the company’s stock valued at $14,725,000 after acquiring an additional 359,501 shares in the last quarter. Phocas Financial Corp. purchased a new position in NextGen Healthcare in the 1st quarter worth approximately $7,113,000. Finally, Rice Hall James & Associates LLC bought a new position in NextGen Healthcare in the 3rd quarter valued at approximately $5,898,000. 73.80% of the stock is currently owned by institutional investors.

NextGen Healthcare Trading Down 3.1 %

Shares of NASDAQ:NXGN opened at $19.55 on Tuesday. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 63.06 and a beta of 1.00. NextGen Healthcare has a 12 month low of $15.32 and a 12 month high of $21.99. The company has a 50-day moving average price of $18.58 and a 200-day moving average price of $18.01.

About NextGen Healthcare

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NextGen Healthcare, Inc provides healthcare technology solutions in the United States. The company offers clinical care solutions, including NextGen Enterprise EHR; financial solutions, such as NextGen Enterprise PM; patient engagement solutions comprising NextGen Virtual Visits; integrated clinical care and financial solutions consisting of NextGen Office; interoperability solutions that include NextGen Share and Mirth Connect; data and analytics solutions, which comprise NextGen Health Data Hub; and value based care solutions, including NextGen Population Health Solutions.

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