NextGen Healthcare (NASDAQ:NXGN) Price Target Cut to $18.00

NextGen Healthcare (NASDAQ:NXGN – Get Rating) had its price target lowered by Truist Financial from $22.00 to $18.00 in a report released on Monday morning, The Fly reports.

NXGN has been the topic of a number of other research reports. Stephens assumed coverage on shares of NextGen Healthcare in a research report on Tuesday, April 11th. They set an overweight rating and a $24.00 price objective on the stock. StockNews.com assumed coverage on NextGen Healthcare in a research note on Thursday, May 18th. They set a buy rating for the company. Piper Sandler cut their price target on NextGen Healthcare from $20.00 to $17.00 in a research note on Thursday, May 18th. Finally, TheStreet downgraded NextGen Healthcare from a b- rating to a c rating in a research note on Tuesday, May 16th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, NextGen Healthcare has a consensus rating of Moderate Buy and an average price target of $21.20.

NextGen Healthcare Price Performance

NXGN stock opened at $15.45 on Monday. The stock has a market capitalization of $1.02 billion, a PE ratio of -386.25 and a beta of 1.04. The company’s 50-day moving average is $16.98 and its 200-day moving average is $18.15. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.03 and a quick ratio of 2.53. NextGen Healthcare has a 1 year low of $15.23 and a 1 year high of $21.99.

Hedge Funds Weigh In On NextGen Healthcare

Hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Hong Kong Ltd purchased a new position in shares of NextGen Healthcare in the 3rd quarter worth approximately $40,000. Tower Research Capital LLC TRC boosted its stake in shares of NextGen Healthcare by 146.4% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,363 shares of the company’s stock worth $41,000 after buying an additional 1,404 shares during the last quarter. Altshuler Shaham Ltd boosted its stake in shares of NextGen Healthcare by 98.7% in the 4th quarter. Altshuler Shaham Ltd now owns 3,205 shares of the company’s stock worth $60,000 after buying an additional 1,592 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of NextGen Healthcare by 61.5% in the 1st quarter. Captrust Financial Advisors now owns 4,255 shares of the company’s stock worth $89,000 after buying an additional 1,620 shares during the last quarter. Finally, Point72 Middle East FZE bought a new stake in shares of NextGen Healthcare in the 4th quarter worth approximately $97,000. Hedge funds and other institutional investors own 73.70% of the company’s stock.

About NextGen Healthcare

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NextGen Healthcare, Inc provides software and services that empower ambulatory healthcare practices to manage the risk and complexity of delivering care in the rapidly evolving U.S. healthcare system. Its portfolio includes tightly integrated solutions that deliver on ambulatory healthcare imperatives including population health, care management, patient outreach, telemedicine, and nationwide clinical information exchange.