NextGen Healthcare (NASDAQ:NXGN) Posts Quarterly Earnings Results, Hits Estimates

NextGen Healthcare (NASDAQ:NXGNGet Rating) announced its quarterly earnings results on Tuesday. The company reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19, Briefing.com reports. The business had revenue of $151.26 million during the quarter, compared to analysts’ expectations of $150.07 million. NextGen Healthcare had a net margin of 0.12% and a return on equity of 10.60%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.13 EPS. NextGen Healthcare updated its FY 2023 guidance to $0.95-$1.01 EPS and its FY23 guidance to $0.95-1.01 EPS.

NASDAQ:NXGN traded down $0.78 on Thursday, reaching $18.16. 579 shares of the stock traded hands, compared to its average volume of 337,869. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 631.54, a PEG ratio of 5.63 and a beta of 1.17. NextGen Healthcare has a 12 month low of $13.64 and a 12 month high of $21.87. The company’s fifty day simple moving average is $20.21 and its 200 day simple moving average is $18.69.

In other news, Director Craig A. Barbarosh sold 3,500 shares of NextGen Healthcare stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $21.27, for a total value of $74,445.00. Following the completion of the sale, the director now directly owns 74,683 shares in the company, valued at $1,588,507.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Donna Cullen Greene sold 63,625 shares of NextGen Healthcare stock in a transaction that occurred on Thursday, March 3rd. The stock was sold at an average price of $20.05, for a total transaction of $1,275,681.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 144,551 shares of company stock valued at $2,896,091. 18.50% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in NXGN. Royal Bank of Canada boosted its holdings in shares of NextGen Healthcare by 214.9% in the second quarter. Royal Bank of Canada now owns 5,617 shares of the company’s stock worth $93,000 after buying an additional 3,833 shares during the last quarter. Morgan Stanley boosted its holdings in shares of NextGen Healthcare by 12.2% in the second quarter. Morgan Stanley now owns 459,384 shares of the company’s stock worth $7,622,000 after buying an additional 49,980 shares during the last quarter. UBS Group AG boosted its holdings in shares of NextGen Healthcare by 55.3% in the third quarter. UBS Group AG now owns 25,046 shares of the company’s stock worth $353,000 after buying an additional 8,916 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of NextGen Healthcare by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 679,389 shares of the company’s stock worth $12,087,000 after buying an additional 8,885 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of NextGen Healthcare by 18.7% in the fourth quarter. Renaissance Technologies LLC now owns 87,776 shares of the company’s stock worth $1,562,000 after buying an additional 13,800 shares during the last quarter. Hedge funds and other institutional investors own 71.15% of the company’s stock.

Several equities research analysts have recently commented on the stock. StockNews.com assumed coverage on shares of NextGen Healthcare in a research report on Thursday, March 31st. They issued a “strong-buy” rating for the company. Piper Sandler raised their target price on shares of NextGen Healthcare from $23.00 to $24.00 in a research report on Wednesday, January 26th. Guggenheim raised shares of NextGen Healthcare from a “neutral” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Friday, May 6th. Finally, Zacks Investment Research cut shares of NextGen Healthcare from a “hold” rating to a “sell” rating and set a $21.00 price target for the company. in a research report on Thursday, May 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $22.17.

NextGen Healthcare Company Profile (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.

See Also

Earnings History for NextGen Healthcare (NASDAQ:NXGN)

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