Wall Street brokerages predict that Nextgen Healthcare Inc (NASDAQ:NXGN) will announce sales of $135.83 million for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Nextgen Healthcare’s earnings, with estimates ranging from $135.01 million to $136.30 million. Nextgen Healthcare posted sales of $134.79 million in the same quarter last year, which suggests a positive year over year growth rate of 0.8%. The business is expected to announce its next earnings results after the market closes on Monday, May 4th.
According to Zacks, analysts expect that Nextgen Healthcare will report full year sales of $541.25 million for the current fiscal year, with estimates ranging from $538.87 million to $543.80 million. For the next fiscal year, analysts anticipate that the firm will post sales of $525.62 million, with estimates ranging from $480.00 million to $565.60 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Nextgen Healthcare.
Several equities research analysts have weighed in on the stock. Royal Bank of Canada assumed coverage on shares of Nextgen Healthcare in a research report on Monday, April 20th. They issued a “sector perform” rating and a $11.00 price objective for the company. Wells Fargo & Co upgraded shares of Nextgen Healthcare from an “underweight” rating to an “equal weight” rating and lowered their price objective for the company from $16.00 to $10.00 in a research report on Friday, March 27th. Jefferies Financial Group lowered their price objective on shares of Nextgen Healthcare from $14.00 to $11.50 and set a “hold” rating for the company in a research report on Wednesday, April 22nd. Dougherty & Co upgraded shares of Nextgen Healthcare from a “neutral” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Wednesday, March 18th. Finally, SVB Leerink assumed coverage on shares of Nextgen Healthcare in a research report on Monday, April 13th. They issued a “market perform” rating and a $12.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $12.38.
NXGN opened at $9.78 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $645.19 million, a PE ratio of 40.75, a PEG ratio of 3.72 and a beta of 0.98. Nextgen Healthcare has a 1-year low of $5.10 and a 1-year high of $21.12. The firm has a 50-day moving average price of $10.04 and a two-hundred day moving average price of $13.45.
In other news, Director Jeffrey H. Margolis acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was purchased at an average price of $9.26 per share, for a total transaction of $92,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James Robert Jr. Arnold acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were purchased at an average price of $9.20 per share, with a total value of $46,000.00. Following the acquisition, the chief financial officer now owns 328,766 shares of the company’s stock, valued at approximately $3,024,647.20. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 15,575 shares of company stock valued at $143,476. 18.50% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of NXGN. Advisor Group Holdings Inc. acquired a new position in Nextgen Healthcare during the first quarter valued at approximately $37,000. Meeder Asset Management Inc. grew its holdings in Nextgen Healthcare by 114.2% during the fourth quarter. Meeder Asset Management Inc. now owns 4,584 shares of the company’s stock valued at $74,000 after purchasing an additional 2,444 shares during the period. Pacer Advisors Inc. acquired a new position in Nextgen Healthcare during the first quarter valued at approximately $80,000. Quantitative Investment Management LLC acquired a new position in Nextgen Healthcare during the first quarter valued at approximately $108,000. Finally, Point72 Asset Management L.P. acquired a new position in Nextgen Healthcare during the fourth quarter valued at approximately $122,000. Hedge funds and other institutional investors own 71.22% 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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