NextGen Healthcare (NASDAQ:NXGN) Updates FY 2023 Earnings Guidance

NextGen Healthcare (NASDAQ:NXGNGet Rating) updated its FY 2023 earnings guidance on Tuesday. The company provided earnings per share guidance of $0.95-$1.01 for the period, compared to the consensus earnings per share estimate of $0.99. The company issued revenue guidance of $628.00 million-$640.00 million, compared to the consensus revenue estimate of $627.02 million.

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

NXGN stock opened at $17.68 on Tuesday. The business’s 50-day moving average is $20.12 and its 200 day moving average is $18.74. NextGen Healthcare has a 12-month low of $13.64 and a 12-month high of $21.87. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 589.53, a PEG ratio of 5.15 and a beta of 1.17.

NextGen Healthcare (NASDAQ:NXGNGet Rating) last issued its quarterly earnings results on Tuesday, May 17th. The company reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. NextGen Healthcare had a return on equity of 10.11% and a net margin of 0.27%. The firm had revenue of $151.26 million during the quarter, compared to analysts’ expectations of $150.07 million. During the same period in the previous year, the business earned $0.13 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities research analysts anticipate that NextGen Healthcare will post 0.71 earnings per share for the current fiscal year.

In other news, CAO David Ahmadzai sold 6,250 shares of NextGen Healthcare stock in a transaction dated Tuesday, March 15th. The shares were sold at an average price of $19.55, for a total value of $122,187.50. The sale was disclosed in a filing with the SEC, which is available at 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 shares were 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 sold 144,551 shares of company stock valued at $2,896,091 over the last 90 days. Company insiders own 18.50% of the company’s stock.

A number of large investors have recently bought and sold shares of NXGN. Hsbc Holdings PLC boosted its stake in shares of NextGen Healthcare by 38.8% during the first quarter. Hsbc Holdings PLC now owns 22,436 shares of the company’s stock valued at $470,000 after acquiring an additional 6,268 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of NextGen Healthcare by 131.6% during the first quarter. Royal Bank of Canada now owns 22,400 shares of the company’s stock worth $469,000 after buying an additional 12,728 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new position in shares of NextGen Healthcare in the first quarter valued at approximately $416,000. Eqis Capital Management Inc. purchased a new position in shares of NextGen Healthcare during the first quarter valued at approximately $362,000. Finally, Ergoteles LLC acquired a new stake in NextGen Healthcare during the first quarter worth approximately $362,000. Hedge funds and other institutional investors own 71.15% of the company’s stock.

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.

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

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