SSgA Funds Management, Inc. recently announced the acquisition of new stake in NextGen Healthcare Inc. (NASDAQ:NXGN). The institutional investor has increased its shareholding in the Healthcare company by 0.25% to 2.06 million shares with purchase of 5125.0 shares. This fresh investment now brings its stake to 3.05% valued currently at $42.9 million. In addition, William Blair Investment Manageme raised its holdings by 0.58 million to 1.6 million shares. And Lazard Asset Management LLC has lifted its position by 10,233.07% or 1.06 million shares – to 1.07 million shares.
With over 0.44 million NextGen Healthcare Inc. (NXGN) shares trading Tuesday and a closing price of $17.91 on the day, the dollar volume was approximately $7.94 million. The shares have shown a positive half year performance of 3.59% and its price on 01/10/23 gained nearly 0.45%. Currently, there are 67.81M common shares owned by the public and among those 55.01M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for NXGN have a consensus price objective of $21.43. The analysts have set the share’s price value over the next 12 months at a high of $26.00 and a low of $18.00. The average price target is 15.48% above its recent price level and an upside to the estimated low will see the stock gain 0.5% over that period. But an upside of 31.12% will see the stock hit the forecast high price target while median target price for the stock is $20.00.
Insiders at the company have transacted a total of 82 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 34 of these insider trades were purchases, accounting for 699,770 shares. Insider sales of the common stock occurred on 48 occasions, with total insider shares sold totaling 482,602 shares.
The top 3 mutual fund holders in NextGen Healthcare Inc. are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and Vanguard Small Cap Index Fund. iShares Core S&P Small Cap ETF owns 4.15 million shares of the company’s stock, all valued at over $86.29 million. The company bought an additional 1572.0 shares recently to bring their total holdings to about 6.14% of the shares outstanding. Vanguard Small Cap Index Fund bought 116.0 shares to bring its total holdings to over 1.4 million shares at a value of $29.19 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.08% of the shares outstanding.
Shares of NextGen Healthcare Inc. (NASDAQ: NXGN) opened at $17.94, up $0.11 from a prior closing price of $17.83. However, the script later moved the day high at 18.11, up 0.45%. The company’s stock has a 5-day price change of -2.34% and -0.39% over the past three months. NXGN shares are trading -4.63% year to date (YTD), with the 12-month market performance down to -1.54% lower. It has a 12-month low price of $16.13 and touched a high of $21.99 over the same period. NXGN has an average intraday trading volume of 678.41K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -4.44%, -8.01%, and -3.69% respectively.
Institutional ownership of NextGen Healthcare Inc. (NASDAQ: NXGN) shares accounts for 78.30% of the company’s 67.81M shares outstanding. Mutual fund holders own 32.07%, while other institutional holders and individual stakeholders account for 44.29% and 19.41% respectively.
It has a market capitalization of $1.20B and a beta (3y monthly) value of 1.05. The stock’s trailing 12-month PE ratio is 60.30, while the earnings-per-share (ttm) stands at $0.30. The company has a PEG of 13.36 and a Quick Ratio of 1.30 with the debt-to-equity ratio at 0.00. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.48% over the week and 2.36% over the month.
Analysts forecast that NextGen Healthcare Inc. (NXGN) will achieve an EPS of $0.28 for the current quarter, $0.29 for the next quarter and $1.08 for 2024. The lowest estimate earnings-per-share for the quarter is $0.27 while analysts give the company a high EPS estimate of $0.3. Comparatively, EPS for the current quarter was $0.24 a year ago. Earnings per share for the fiscal year are expected to decrease by -83.20%, and 11.64% over the next financial year. EPS should grow at an annualized rate of 4.51% over the next five years, compared to -39.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate NextGen Healthcare Inc. (NXGN) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 5 of the 8 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the NXGN, a number of firms have released research notes about the stock. Piper Sandler stated their Neutral rating for the stock in a research note on October 21, 2022, with the firm’s price target at $20. Truist coverage for the NextGen Healthcare Inc. (NXGN) stock in a research note released on September 07, 2022 offered a Hold rating with a price target of $20. SVB Leerink on their part issued Outperform rating on January 06, 2022.