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

NextGen Healthcare (NASDAQ:NXGNGet Rating) released its earnings results on Tuesday. The company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.19, Briefing.com reports. The business had revenue of $151.26 million for the quarter, compared to the consensus estimate of $150.07 million. NextGen Healthcare had a return on equity of 10.60% and a net margin of 0.12%. NextGen Healthcare’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.13 earnings per share. 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 NASDAQ NXGN opened at $18.94 on Thursday. The business’s 50 day moving average price is $20.21 and its two-hundred day moving average price is $18.69. The company has a market cap of $1.27 billion, a PE ratio of 631.54, a price-to-earnings-growth ratio of 5.63 and a beta of 1.17. NextGen Healthcare has a twelve month low of $13.64 and a twelve month high of $21.87.

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

Institutional investors have recently bought and sold shares of the company. Captrust Financial Advisors grew its position in shares of NextGen Healthcare by 61.5% in the first 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 214.9% in the second quarter. Royal Bank of Canada now owns 5,617 shares of the company’s stock valued at $93,000 after buying an additional 3,833 shares during the period. Vident Investment Advisory LLC bought a new stake in shares of NextGen Healthcare in the fourth quarter valued at approximately $185,000. Natixis Advisors L.P. bought a new stake in shares of NextGen Healthcare in the first quarter valued at approximately $280,000. Finally, Jane Street Group LLC bought a new stake in shares of NextGen Healthcare in the first quarter valued at approximately $294,000. 71.15% of the stock is currently owned by institutional investors.

A number of research firms recently issued reports on NXGN. Guggenheim raised NextGen Healthcare from a “neutral” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Friday, May 6th. StockNews.com began coverage on NextGen Healthcare in a research report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Piper Sandler lifted their target price on NextGen Healthcare from $23.00 to $24.00 in a research report on Wednesday, January 26th. Finally, Zacks Investment Research downgraded NextGen Healthcare from a “hold” rating to a “sell” rating and set a $21.00 target price on the stock. 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 issued a strong buy rating to the stock. According to data from MarketBeat, NextGen Healthcare has a consensus rating of “Buy” and a consensus target price 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.

Further Reading

Earnings History for NextGen Healthcare (NASDAQ:NXGN)

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