NextGen Healthcare NXGN Commences Coverage by StockNews.com Analysts

NextGen Healthcare, symbol NXGN, a prominent player in providing ambulatory healthcare software and services in the United States, has started being observed by analysts at StockNews.com. In a report that was issued on November 11th, 2023, StockNews.com initiated their coverage with a 'hold' rating for NXGN shares.

Analytical Perspectives on NextGen Healthcare

NextGen Healthcare has been under recent scrutiny by several research analysts. A notable change was seen when Cantor Fitzgerald shifted their stance from 'overweight' to 'neutral'. Similarly, Royal Bank of Canada adjusted their price target for NXGN from $17.00 to $23.95, maintaining a 'sector perform' rating. Truist Financial also increased their price objective, setting it at $23.95 and upholding a 'hold' rating. There was, however, a downgrade from Guggenheim, changing from 'buy' to 'neutral', which echoed a similar move by Stephens, who downgraded their outlook from 'overweight' to 'equal weight'. As compiled by MarketBeat, the consensus among these varied analyses sets NXGN with an average 'Hold' rating and a target price expectation at $21.98.

Stock Performance Insights

The trading price for NXGN opened at $23.94 on the Friday before the report. NextGen Healthcare currently boasts a market capitalization of $1.61 billion, with its past year's low and high values ranging between $15.23 and $23.98 respectively. Notably, the company has reported a somewhat tumultuous P/E ratio of -239.38 and maintains beta stability at 0.77. Investors also keep an eye on the moving average statistics, with the 50-day mark at $23.62 and the 200-day figure at $18.98.

Institutional Investor Activities

There have been significant movements by institutional investors concerning NXGN. Millennium Management LLC, for instance, raised its stake by an impressive 4,166.6%, owning now 1,482,268 shares valued at around $27,837,000. Additionally, Point72 Asset Management increased its holdings by a substantial 229.9%, whereas William Blair Investment Management LLC grew its share by 27.2%. It's important to note that institutional investors and hedge funds own approximately 76.65% of NextGen Healthcare's stock, indicating robust institutional confidence.

About NextGen Healthcare

NXGN is headquartered in Atlanta, Georgia, and offers a suite of technology solutions geared towards the healthcare industry in the U.S. Their product mix includes NextGen Enterprise EHR for clinical care, NextGen Enterprise PM for financial management, and patient engagement solutions like NextGen Virtual Visits. They are also involved in interoperability, data and analytics, and value-based care solutions, aiming to streamline healthcare practices and enhance patient care quality.

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