Investment Counselors of Maryland LLC acquired a new stake in shares of Nextgen Healthcare Inc (NASDAQ:NXGN) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,242,689 shares of the company’s stock, valued at approximately $24,953,000. Nextgen Healthcare makes up about 1.1% of Investment Counselors of Maryland LLC’s investment portfolio, making the stock its 19th largest position. Investment Counselors of Maryland LLC owned approximately 1.92% of Nextgen Healthcare as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of NXGN. Bank of Montreal Can bought a new position in shares of Nextgen Healthcare during the 3rd quarter valued at about $165,000. NJ State Employees Deferred Compensation Plan acquired a new position in shares of Nextgen Healthcare in the third quarter worth about $402,000. Louisiana State Employees Retirement System acquired a new position in shares of Nextgen Healthcare in the third quarter worth about $420,000. Foundry Partners LLC acquired a new position in shares of Nextgen Healthcare in the third quarter worth about $3,534,000. Finally, Strs Ohio acquired a new position in shares of Nextgen Healthcare in the third quarter worth about $561,000. Institutional investors own 69.03% of the company’s stock.
NXGN stock opened at $15.26 on Wednesday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.12. The company has a market cap of $975.85 million, a P/E ratio of 26.77, a P/E/G ratio of 2.93 and a beta of 0.93. Nextgen Healthcare Inc has a 52 week low of $12.24 and a 52 week high of $23.73.
Nextgen Healthcare (NASDAQ:NXGN) last posted its quarterly earnings results on Tuesday, October 30th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.19 by $0.05. The business 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 quarterly revenue was down 1.7% compared to the same quarter last year. During the same period last year, the company posted $0.22 earnings per share. As a group, analysts anticipate that Nextgen Healthcare Inc will post 0.58 earnings per share for the current year.
Several research analysts have commented on NXGN shares. Morgan Stanley upgraded shares of Nextgen Healthcare from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $12.00 to $16.00 in a report on Thursday, November 1st. KeyCorp decreased their target price on shares of Nextgen Healthcare from $17.00 to $16.00 and set an “underweight” rating for the company in a report on Wednesday, October 31st. Cantor Fitzgerald decreased 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, October 31st. Finally, TheStreet upgraded shares of Nextgen Healthcare from a “c” rating to a “b-” rating in a report on Thursday, November 1st.
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Nextgen Healthcare 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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