Morgan Stanley Sticks to Their Hold Rating for NextGen Healthcare Inc (NXGN)

By Jason Carr

In a report released today, Ricky Goldwasser from Morgan Stanley maintained a Hold rating on NextGen Healthcare Inc (NXGNResearch Report), with a price target of $16. The company’s shares closed last Monday at $15.09, close to its 52-week low of $13.60.

According to, Goldwasser is a 4-star analyst with an average return of 4.3% and a 56.5% success rate. Goldwasser covers the Services sector, focusing on stocks such as Walgreens Boots Alliance, Quest Diagnostics Inc, and Molina Healthcare.

The word on The Street in general, suggests a Hold analyst consensus rating for NextGen Healthcare Inc with a $18.83 average price target, which is a 25.7% upside from current levels. In a report released today, Jefferies also initiated coverage with a Hold rating on the stock with a $16 price target.

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NextGen Healthcare Inc’s market cap is currently $975.8M and has a P/E ratio of 42.40. The company has a Price to Book ratio of 2.59.

Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NXGN in relation to earlier this year.

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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. The company was founded by Sheldon Razin in 1974 and is headquartered in Irvine, CA.