Nextgen Healthcare (NASDAQ:NXGN) Trading 6.7% Higher on Earnings Beat

Nextgen Healthcare Inc (NASDAQ:NXGN)’s stock price traded up 6.7% during trading on Thursday following a better than expected earnings announcement. The company traded as high as $17.31 and last traded at $17.01, 533,800 shares traded hands during mid-day trading. An increase of 94% from the average session volume of 274,757 shares. The stock had previously closed at $15.94.

The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. Nextgen Healthcare had a return on equity of 10.05% and a net margin of 4.37%. The business had revenue of $134.30 million during the quarter, compared to analysts’ expectations of $134.39 million. During the same period in the prior year, the business earned $0.24 EPS. Nextgen Healthcare’s revenue for the quarter was up 3.1% compared to the same quarter last year.

A number of analysts recently issued reports on the company. Deutsche Bank assumed coverage on Nextgen Healthcare in a research note on Thursday, September 26th. They set a “hold” rating and a $15.00 target price for the company. ValuEngine upgraded Nextgen Healthcare from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group set a $16.00 price objective on Nextgen Healthcare and gave the company a “hold” rating in a research report on Friday, August 23rd. KeyCorp upgraded Nextgen Healthcare from an “underweight” rating to a “sector weight” rating in a research report on Thursday, August 29th. They noted that the move was a valuation call. Finally, TheStreet downgraded Nextgen Healthcare from a “b-” rating to a “c+” rating in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $15.75.

A number of institutional investors have recently modified their holdings of the business. Swiss National Bank boosted its holdings 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. Smith Graham & Co. Investment Advisors LP raised its stake in shares of Nextgen Healthcare by 1.5% in the second quarter. Smith Graham & Co. Investment Advisors LP now owns 501,595 shares of the company’s stock worth $9,982,000 after purchasing an additional 7,497 shares during the last quarter. Allianz Asset Management GmbH raised its stake in shares of Nextgen Healthcare by 139.9% in the second quarter. Allianz Asset Management GmbH now owns 159,082 shares of the company’s stock worth $3,165,000 after purchasing an additional 92,781 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Nextgen Healthcare by 1.7% in the second quarter. Wells Fargo & Company MN now owns 95,048 shares of the company’s stock worth $1,891,000 after purchasing an additional 1,594 shares during the last quarter. Finally, Aperio Group LLC raised its stake in shares of Nextgen Healthcare by 14.2% in the second quarter. Aperio Group LLC now owns 17,600 shares of the company’s stock worth $350,000 after purchasing an additional 2,183 shares during the last quarter. Hedge funds and other institutional investors own 70.69% of the company’s stock.

The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $1.04 billion, a PE ratio of 27.89, a P/E/G ratio of 4.26 and a beta of 1.04. The stock has a 50-day moving average of $15.54 and a 200 day moving average of $17.41.

Nextgen Healthcare Company Profile (NASDAQ:NXGN)

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.

Featured Article: What is a stock split?

Receive News & Ratings for Nextgen Healthcare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nextgen Healthcare and related companies with MarketBeat.com's FREE daily email newsletter.