NextGen Healthcare (NASDAQ:NXGN) Issues FY23 Earnings Guidance

NextGen Healthcare (NASDAQ:NXGNGet Rating) updated its FY23 earnings guidance on Tuesday. The company provided EPS guidance of $0.95-1.01 for the period, compared to the consensus EPS estimate of $0.99. The company issued revenue guidance of $628-640 million, compared to the consensus revenue estimate of $632.15 million.NextGen Healthcare also updated its FY 2023 guidance to $0.95-$1.01 EPS.

Several research firms have commented on NXGN. Guggenheim raised shares of NextGen Healthcare from a neutral rating to a buy rating and set a $26.00 target price on the stock in a report on Friday, May 6th. StockNews.com began coverage on shares of NextGen Healthcare in a report on Thursday, March 31st. They issued a strong-buy rating on the stock. Piper Sandler lifted their price target on shares of NextGen Healthcare from $23.00 to $24.00 in a report on Wednesday, January 26th. Finally, Zacks Investment Research lowered shares of NextGen Healthcare from a hold rating to a sell rating and set a $21.00 price target on the stock. in a report on Thursday, May 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of Buy and a consensus target price of $22.17.

Shares of NextGen Healthcare stock opened at $20.08 on Wednesday. The firm has a market capitalization of $1.34 billion, a PE ratio of 2,010.01, a price-to-earnings-growth ratio of 5.56 and a beta of 1.17. The firm’s 50 day moving average is $20.24 and its 200 day moving average is $18.69. NextGen Healthcare has a 1 year low of $13.64 and a 1 year high of $21.87.

In related news, CTO David A. Metcalfe sold 33,838 shares of NextGen Healthcare stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $20.00, for a total transaction of $676,760.00. Following the sale, the chief technology officer now directly owns 155,013 shares in the company, valued at approximately $3,100,260. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Craig A. Barbarosh sold 3,500 shares of NextGen Healthcare stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $19.01, for a total transaction of $66,535.00. Following the sale, the director now owns 71,183 shares in the company, valued at $1,353,188.83. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 144,551 shares of company stock worth $2,896,091. 18.70% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. American Century Companies Inc. boosted its stake in shares of NextGen Healthcare by 2.1% in the 1st quarter. American Century Companies Inc. now owns 50,366 shares of the company’s stock valued at $1,053,000 after purchasing an additional 1,031 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of NextGen Healthcare by 2.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 46,749 shares of the company’s stock valued at $832,000 after purchasing an additional 1,077 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of NextGen Healthcare by 61.5% in the 1st quarter. Captrust Financial Advisors now owns 4,255 shares of the company’s stock valued at $89,000 after purchasing an additional 1,620 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of NextGen Healthcare by 34.2% in the 3rd quarter. Royal Bank of Canada now owns 7,537 shares of the company’s stock valued at $106,000 after purchasing an additional 1,920 shares during the last quarter. Finally, Yousif Capital Management LLC boosted its stake in shares of NextGen Healthcare by 4.0% in the 1st quarter. Yousif Capital Management LLC now owns 52,518 shares of the company’s stock valued at $1,098,000 after purchasing an additional 2,032 shares during the last quarter. 71.15% of the stock is currently owned by institutional investors.

About NextGen Healthcare (Get Rating)

NextGen Healthcare, Inc provides software and services for ambulatory healthcare services in the United States. The company offers patient engagement solutions, comprising of NextGen PxP Portal, NextGen Patient Self Scheduling, NextGen Pay, and NextGen Virtual Visits; clinical care solutions, including NextGen Enterprise HER, NextGen Mobile, NextGen Office, NextGen Behavioral Health Suite, NextGen Orthopedic Suite, and QSIDental Web and QSIDental PM; and financial management solutions, such as NextGen Enterprise PM and NextGen Clearinghouse Solutions.

Further Reading

Earnings History and Estimates for NextGen Healthcare (NASDAQ:NXGN)

Receive News & Ratings for NextGen Healthcare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NextGen Healthcare and related companies with MarketBeat.com's FREE daily email newsletter.