Nextgen Healthcare Inc (NASDAQ:NXGN) was the target of a significant increase in short interest in November. As of November 29th, there was short interest totalling 2,250,000 shares, an increase of 7.1% from the November 14th total of 2,100,000 shares. Based on an average daily volume of 237,700 shares, the short-interest ratio is presently 9.5 days. Currently, 4.6% of the shares of the stock are sold short.
A number of brokerages recently weighed in on NXGN. KeyCorp raised shares of Nextgen Healthcare from an “underweight” rating to a “sector weight” rating in a report on Thursday, August 29th. They noted that the move was a valuation call. Deutsche Bank began coverage on shares of Nextgen Healthcare in a report on Thursday, September 26th. They issued a “hold” rating and a $15.00 price target for the company. ValuEngine lowered shares of Nextgen Healthcare from a “buy” rating to a “hold” rating in a report on Friday. Morgan Stanley set a $16.00 price target on shares of Nextgen Healthcare and gave the company a “hold” rating in a report on Friday, August 23rd. Finally, Jefferies Financial Group set a $16.00 price target on shares of Nextgen Healthcare and gave the company a “hold” rating in a report on Friday, August 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $14.86.
A number of hedge funds have recently made changes to their positions in NXGN. Strs Ohio boosted its stake in Nextgen Healthcare by 7.6% in the second quarter. Strs Ohio now owns 38,200 shares of the company’s stock valued at $760,000 after acquiring an additional 2,700 shares during the last quarter. Dupont Capital Management Corp bought a new position in Nextgen Healthcare in the second quarter valued at approximately $1,435,000. Aperio Group LLC boosted its stake in Nextgen Healthcare by 14.2% in the second quarter. Aperio Group LLC now owns 17,600 shares of the company’s stock valued at $350,000 after acquiring an additional 2,183 shares during the last quarter. Swiss National Bank boosted its stake in Nextgen Healthcare by 2.1% in the second quarter. Swiss National Bank now owns 90,300 shares of the company’s stock valued at $1,797,000 after acquiring an additional 1,900 shares during the last quarter. Finally, Hillsdale Investment Management Inc. boosted its stake in Nextgen Healthcare by 43.6% in the second quarter. Hillsdale Investment Management Inc. now owns 52,000 shares of the company’s stock valued at $1,034,000 after acquiring an additional 15,800 shares during the last quarter. 70.09% of the stock is currently owned by hedge funds and other institutional investors.
NXGN stock traded down $2.04 during midday trading on Friday, reaching $14.77. The company’s stock had a trading volume of 1,076,797 shares, compared to its average volume of 253,279. Nextgen Healthcare has a 52 week low of $13.60 and a 52 week high of $21.12. The stock has a market cap of $1.19 billion, a PE ratio of 31.83, a price-to-earnings-growth ratio of 3.59 and a beta of 1.07. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.11. The business’s 50-day simple moving average is $17.31 and its 200-day simple moving average is $17.10.
Nextgen Healthcare (NASDAQ:NXGN) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. Nextgen Healthcare had a net margin of 3.02% and a return on equity of 10.05%. The firm had revenue of $134.30 million for the quarter, compared to analysts’ expectations of $134.39 million. During the same period last year, the firm earned $0.24 earnings per share. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. As a group, equities analysts forecast that Nextgen Healthcare will post 0.63 earnings per share for the current fiscal year.
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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