Norges Bank Purchases New Position in NextGen Healthcare, Inc. (NASDAQ:NXGN)


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Norges Bank bought a new position in shares of NextGen Healthcare, Inc. (NASDAQ:NXGN) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,298,590 shares of the company’s stock, valued at approximately $23,686,000. Norges Bank owned 1.94% of NextGen Healthcare as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of NXGN. BlackRock Inc. lifted its holdings in shares of NextGen Healthcare by 4.2% during the fourth quarter. BlackRock Inc. now owns 9,001,803 shares of the company’s stock worth $164,192,000 after buying an additional 365,132 shares during the last quarter. Nuveen Asset Management LLC grew its position in NextGen Healthcare by 44.9% in the fourth quarter. Nuveen Asset Management LLC now owns 754,333 shares of the company’s stock valued at $13,759,000 after acquiring an additional 233,719 shares during the period. Morgan Stanley grew its position in NextGen Healthcare by 101.4% in the third quarter. Morgan Stanley now owns 349,395 shares of the company’s stock valued at $4,452,000 after acquiring an additional 175,916 shares during the period. Matarin Capital Management LLC bought a new stake in shares of NextGen Healthcare during the third quarter worth $1,986,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of NextGen Healthcare by 38.2% during the fourth quarter. JPMorgan Chase & Co. now owns 413,298 shares of the company’s stock worth $7,539,000 after purchasing an additional 114,187 shares during the last quarter. Institutional investors own 71.31% of the company’s stock.

NXGN has been the topic of several research analyst reports. Piper Sandler increased their target price on NextGen Healthcare from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Tuesday, February 16th. SVB Leerink lifted their target price on NextGen Healthcare from $21.00 to $22.00 and gave the company a “market perform” rating in a research report on Thursday, January 28th. Cantor Fitzgerald upgraded NextGen Healthcare from a “neutral” rating to an “overweight” rating and raised their price target for the company from $20.00 to $23.00 in a research note on Friday, February 19th. Deutsche Bank Aktiengesellschaft raised their price target on NextGen Healthcare from $13.00 to $19.00 and gave the company a “hold” rating in a research note on Thursday, January 28th. Finally, Royal Bank of Canada raised their price target on NextGen Healthcare from $14.00 to $21.00 and gave the company a “positive” rating in a research note on Thursday, January 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. NextGen Healthcare currently has an average rating of “Hold” and an average target price of $19.86.

Shares of NASDAQ NXGN opened at $18.66 on Friday. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.15. NextGen Healthcare, Inc. has a 12 month low of $8.41 and a 12 month high of $23.80. The stock has a 50 day moving average of $18.92 and a 200-day moving average of $17.99. The company has a market capitalization of $1.25 billion, a P/E ratio of 116.63, a P/E/G ratio of 4.06 and a beta of 1.23.

NextGen Healthcare (NASDAQ:NXGN) last issued its earnings results on Wednesday, January 27th. The company reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.03. NextGen Healthcare had a return on equity of 11.28% and a net margin of 1.80%. The company had revenue of $141.80 million during the quarter, compared to the consensus estimate of $139.15 million. During the same period in the previous year, the company posted $0.23 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. Analysts predict that NextGen Healthcare, Inc. will post 0.67 EPS for the current fiscal year.

In related news, CAO David Ahmadzai sold 10,446 shares of NextGen Healthcare stock in a transaction that occurred on Wednesday, February 3rd. The stock was sold at an average price of $19.61, for a total transaction of $204,846.06. Also, Director Craig A. Barbarosh sold 9,000 shares of NextGen Healthcare stock in a transaction that occurred on Monday, April 12th. The stock was sold at an average price of $18.70, for a total value of $168,300.00. Following the sale, the director now directly owns 90,946 shares of the company’s stock, valued at $1,700,690.20. The disclosure for this sale can be found here. Insiders have sold a total of 93,446 shares of company stock valued at $1,839,226 over the last quarter. 18.50% of the stock is currently owned by corporate insiders.

About NextGen Healthcare

NextGen Healthcare, Inc provides ambulatory-focused healthcare software and services solutions in the United States. The company offers NextGen Enterprise electronic health record (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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Institutional Ownership by Quarter for NextGen Healthcare (NASDAQ:NXGN)

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