Algert Global LLC reduced its stake in shares of NextGen Healthcare, Inc. (NASDAQ:NXGN) by 39.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 47,888 shares of the company’s stock after selling 30,820 shares during the quarter. Algert Global LLC’s holdings in NextGen Healthcare were worth $794,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Virginia Retirement Systems ET AL increased its position in NextGen Healthcare by 2.1% during the second quarter. Virginia Retirement Systems ET AL now owns 61,800 shares of the company’s stock worth $1,025,000 after acquiring an additional 1,300 shares during the period. Jump Financial LLC bought a new stake in shares of NextGen Healthcare in the 2nd quarter valued at about $262,000. Bridgewater Associates LP bought a new stake in shares of NextGen Healthcare in the 2nd quarter valued at about $1,995,000. Dean Capital Management bought a new stake in NextGen Healthcare during the 2nd quarter worth approximately $571,000. Finally, Clifford Capital Partners LLC increased its stake in NextGen Healthcare by 151.6% during the 2nd quarter. Clifford Capital Partners LLC now owns 34,531 shares of the company’s stock worth $573,000 after purchasing an additional 20,808 shares in the last quarter. Institutional investors and hedge funds own 74.11% of the company’s stock.
In related news, Director Craig A. Barbarosh sold 9,000 shares of the firm’s stock in a transaction on Tuesday, August 3rd. The stock was sold at an average price of $16.14, for a total value of $145,260.00. Following the transaction, the director now owns 72,946 shares in the company, valued at $1,177,348.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.50% of the stock is currently owned by company insiders.
NextGen Healthcare (NASDAQ:NXGN) last issued its quarterly earnings results on Thursday, July 29th. The company reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.11. NextGen Healthcare had a return on equity of 12.73% and a net margin of 2.31%. The company had revenue of $146.08 million for the quarter, compared to analysts’ expectations of $139.97 million. Equities research analysts anticipate that NextGen Healthcare, Inc. will post 0.65 EPS for the current year.
Several brokerages have recently weighed in on NXGN. Colliers Securities reaffirmed a “buy” rating and set a $21.00 price target on shares of NextGen Healthcare in a research note on Friday, July 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of NextGen Healthcare in a research note on Thursday, June 24th. Finally, Royal Bank of Canada cut their price objective on NextGen Healthcare from $21.00 to $19.00 and set a “sector perform” rating for the company in a report on Friday, July 30th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $20.71.
NextGen Healthcare Profile
NextGen Healthcare, Inc engages in the development and marketing of electronic health records, practice management, revenue cycle management, and interoperability solutions. It offers the core; automation and workflow; analytics, population health, and patient engagement, interoperability; managed services; professional services; and client service and support.
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