SunTrust Banks Weighs in on Nextgen Healthcare Inc’s FY2021 Earnings (NASDAQ:NXGN)

Nextgen Healthcare Inc (NASDAQ:NXGN) – Investment analysts at SunTrust Banks lowered their FY2021 earnings estimates for Nextgen Healthcare in a research note issued on Monday, July 29th. SunTrust Banks analyst S. Draper now anticipates that the company will post earnings of $0.72 per share for the year, down from their previous estimate of $0.74.

Nextgen Healthcare (NASDAQ:NXGN) last issued its earnings results on Wednesday, July 24th. The company reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.05). The business had revenue of $131.86 million during the quarter, compared to analyst estimates of $136.33 million. Nextgen Healthcare had a return on equity of 10.05% and a net margin of 4.37%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period last year, the business earned $0.19 EPS.

NXGN has been the subject of several other research reports. Dougherty & Co cut Nextgen Healthcare from a “neutral” rating to a “sell” rating in a research report on Thursday, July 25th. Zacks Investment Research lowered Nextgen Healthcare from a “hold” rating to a “sell” rating and set a $17.00 price objective for the company. in a report on Tuesday. ValuEngine lowered Nextgen Healthcare from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Leerink Swann upgraded Nextgen Healthcare from a “market perform” rating to an “outperform” rating in a report on Thursday, April 25th. Finally, Svb Leerink upgraded Nextgen Healthcare from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $19.00 to $22.00 in a report on Thursday, April 25th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $18.83.

Shares of Nextgen Healthcare stock traded up $0.05 during midday trading on Thursday, hitting $16.36. The company’s stock had a trading volume of 100 shares, compared to its average volume of 357,512. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 26.90, a P/E/G ratio of 2.99 and a beta of 1.03. The company’s 50-day simple moving average is $19.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.21 and a quick ratio of 1.21. Nextgen Healthcare has a 1-year low of $13.89 and a 1-year high of $23.73.

In other Nextgen Healthcare news, Director George H. Bristol sold 13,873 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $19.25, for a total transaction of $267,055.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sheldon Razin sold 4,018 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $19.06, for a total value of $76,583.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,004 shares of company stock valued at $364,819. 18.50% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank bought a new position in Nextgen Healthcare during the fourth quarter valued at about $25,675,000. Foundry Partners LLC increased its stake in shares of Nextgen Healthcare by 9.0% in the first quarter. Foundry Partners LLC now owns 217,258 shares of the company’s stock worth $3,656,000 after purchasing an additional 17,874 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Nextgen Healthcare by 2.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 33,809 shares of the company’s stock worth $512,000 after purchasing an additional 743 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Nextgen Healthcare by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,411,788 shares of the company’s stock worth $36,539,000 after purchasing an additional 56,278 shares during the period. Finally, Municipal Employees Retirement System of Michigan bought a new position in shares of Nextgen Healthcare in the fourth quarter worth about $208,000. Institutional investors own 69.52% of the company’s stock.

Nextgen Healthcare Company Profile

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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Earnings History and Estimates for Nextgen Healthcare (NASDAQ:NXGN)

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