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

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

Shares of NXGN stock opened at $18.94 on Thursday. The firm has a market cap of $1.27 billion, a PE ratio of 631.54, a P/E/G 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.

A number of brokerages have commented on NXGN. Guggenheim raised shares of NextGen Healthcare from a “neutral” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Friday, May 6th. Zacks Investment Research cut shares of NextGen Healthcare from a “hold” rating to a “sell” rating and set a $21.00 price target on the stock. in a research note on Thursday, May 5th. Piper Sandler upped their price objective on NextGen Healthcare from $23.00 to $24.00 in a report on Wednesday, January 26th. Finally, assumed coverage on NextGen Healthcare in a research note on Thursday, March 31st. They set a “strong-buy” rating on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, NextGen Healthcare has a consensus rating of “Buy” and a consensus target price of $22.17.

In related news, CTO David A. Metcalfe sold 33,838 shares of the stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $20.00, for a total value of $676,760.00. Following the sale, the chief technology officer now owns 155,013 shares in the company, valued at approximately $3,100,260. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Donna Cullen Greene sold 63,625 shares of NextGen Healthcare stock in a transaction 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. Insiders have sold 144,551 shares of company stock worth $2,896,091 in the last quarter. 18.50% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of NXGN. Hsbc Holdings PLC increased its position in NextGen Healthcare by 38.8% during the 1st quarter. Hsbc Holdings PLC now owns 22,436 shares of the company’s stock worth $470,000 after buying an additional 6,268 shares during the period. Royal Bank of Canada boosted its holdings in NextGen Healthcare by 131.6% in the 1st quarter. Royal Bank of Canada now owns 22,400 shares of the company’s stock valued at $469,000 after purchasing an additional 12,728 shares during the period. Atria Wealth Solutions Inc. acquired a new position in shares of NextGen Healthcare during the 1st quarter worth approximately $416,000. Eqis Capital Management Inc. bought a new position in shares of NextGen Healthcare during the first quarter worth approximately $362,000. Finally, Ergoteles LLC acquired a new stake in shares of NextGen Healthcare in the first quarter valued at approximately $362,000. 71.15% of the stock is currently owned by institutional investors.

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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