AXA trimmed its position in Nextgen Healthcare Inc (NASDAQ:NXGN) by 16.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 213,165 shares of the company’s stock after selling 41,100 shares during the quarter. AXA owned approximately 0.33% of Nextgen Healthcare worth $4,242,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Atria Investments LLC acquired a new position in shares of Nextgen Healthcare during the 2nd quarter worth about $312,000. Meeder Asset Management Inc. grew its position in shares of Nextgen Healthcare by 493.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 5,517 shares of the company’s stock worth $110,000 after buying an additional 4,588 shares during the period. Convergence Investment Partners LLC grew its position in shares of Nextgen Healthcare by 20.8% during the 2nd quarter. Convergence Investment Partners LLC now owns 10,910 shares of the company’s stock worth $217,000 after buying an additional 1,876 shares during the period. Bank of Montreal Can grew its position in shares of Nextgen Healthcare by 61.1% during the 2nd quarter. Bank of Montreal Can now owns 11,769 shares of the company’s stock worth $234,000 after buying an additional 4,462 shares during the period. Finally, WINTON GROUP Ltd acquired a new position in shares of Nextgen Healthcare during the 2nd quarter worth about $236,000. Hedge funds and other institutional investors own 70.64% of the company’s stock.
Several equities analysts have recently issued reports on the company. Morgan Stanley set a $16.00 target price on Nextgen Healthcare and gave the stock a “hold” rating in a research report on Friday, August 23rd. Dougherty & Co upgraded Nextgen Healthcare from a “sell” rating to a “neutral” rating and set a $1.00 price objective for the company in a research report on Tuesday, September 17th. Deutsche Bank started coverage on Nextgen Healthcare in a research report on Thursday, September 26th. They issued a “hold” rating and a $15.00 price objective for the company. 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 research report on Tuesday, July 30th. Finally, Jefferies Financial Group set a $16.00 price objective on Nextgen Healthcare and gave the company a “hold” rating in a research report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $15.75.
Nextgen Healthcare (NASDAQ:NXGN) last released 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 firm had revenue of $131.86 million during the quarter, compared to the consensus estimate of $136.33 million. Nextgen Healthcare had a net margin of 4.37% and a return on equity of 10.05%. The company’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.19 EPS. As a group, equities analysts predict that Nextgen Healthcare Inc will post 0.62 earnings per share for the current fiscal year.
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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