Short Interest in Nextgen Healthcare Inc (NASDAQ:NXGN) Grows By 8.4%

Nextgen Healthcare Inc (NASDAQ:NXGN) was the recipient of a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 877,000 shares, a growth of 8.4% from the April 30th total of 809,200 shares. Currently, 1.7% of the shares of the company are sold short. Based on an average trading volume of 435,700 shares, the short-interest ratio is presently 2.0 days.

Several equities research analysts have recently weighed in on NXGN shares. Dougherty & Co upgraded Nextgen Healthcare from a “neutral” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Wednesday, March 18th. TheStreet lowered Nextgen Healthcare from a “b-” rating to a “c+” rating in a research note on Wednesday, January 29th. BidaskClub lowered Nextgen Healthcare from a “hold” rating to a “sell” rating in a research note on Tuesday, May 5th. Jefferies Financial Group lowered their price objective on Nextgen Healthcare from $14.00 to $11.50 and set a “hold” rating on the stock in a research note on Wednesday, April 22nd. Finally, Cantor Fitzgerald lowered their price objective on Nextgen Healthcare from $17.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 5th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $12.38.

Shares of NXGN traded down $0.04 on Friday, hitting $9.78. The company’s stock had a trading volume of 189,593 shares, compared to its average volume of 335,383. The company has a market capitalization of $645.19 million, a PE ratio of 15.84, a PEG ratio of 3.72 and a beta of 0.98. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.12 and a quick ratio of 1.12. Nextgen Healthcare has a fifty-two week low of $5.10 and a fifty-two week high of $21.12. The company has a 50 day moving average price of $10.04 and a 200 day moving average price of $13.45.

In other news, Director Jeffrey H. Margolis purchased 10,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were purchased at an average cost of $9.26 per share, for a total transaction of $92,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James Robert Jr. Arnold purchased 5,000 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were purchased at an average price of $9.20 per share, for a total transaction of $46,000.00. Following the completion of the purchase, the chief financial officer now directly owns 328,766 shares of the company’s stock, valued at $3,024,647.20. The disclosure for this purchase can be found here. Insiders have purchased 15,575 shares of company stock worth $143,476 over the last 90 days. Corporate insiders own 18.50% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in NXGN. Advisor Group Holdings Inc. acquired a new position in shares of Nextgen Healthcare in the 1st quarter worth approximately $37,000. Meeder Asset Management Inc. lifted its holdings in Nextgen Healthcare by 114.2% during the 4th quarter. Meeder Asset Management Inc. now owns 4,584 shares of the company’s stock worth $74,000 after buying an additional 2,444 shares in the last quarter. Pacer Advisors Inc. acquired a new position in Nextgen Healthcare during the 1st quarter worth $80,000. Quantitative Investment Management LLC acquired a new position in Nextgen Healthcare during the 1st quarter worth $108,000. Finally, Point72 Asset Management L.P. acquired a new position in Nextgen Healthcare during the 4th quarter worth $122,000. 71.22% of the stock is currently owned by institutional investors and hedge funds.

About Nextgen Healthcare

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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