NextGen Healthcare (NASDAQ:NXGN) Releases FY23 Earnings Guidance

NextGen Healthcare (NASDAQ:NXGNGet Rating) issued an update on its FY23 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.93-0.99 for the period, compared to the consensus estimate of $0.97. The company issued revenue guidance of $642-650 million, compared to the consensus revenue estimate of $639.63 million. NextGen Healthcare also updated its FY 2023 guidance to $0.93-$0.99 EPS.

NextGen Healthcare Stock Performance

Shares of NASDAQ NXGN traded down $0.20 during mid-day trading on Tuesday, hitting $17.08. The stock had a trading volume of 407,772 shares, compared to its average volume of 447,060. The company has a 50 day moving average of $18.93 and a two-hundred day moving average of $18.29. The firm has a market cap of $1.15 billion, a PE ratio of 55.10 and a beta of 1.02. NextGen Healthcare has a twelve month low of $16.13 and a twelve month high of $21.99.

NextGen Healthcare (NASDAQ:NXGNGet Rating) last announced its quarterly earnings results on Tuesday, October 25th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.02). The company had revenue of $159.44 million for the quarter, compared to analyst estimates of $156.46 million. NextGen Healthcare had a return on equity of 6.50% and a net margin of 3.31%. Equities research analysts predict that NextGen Healthcare will post 0.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NXGN shares. SVB Leerink increased their price target on NextGen Healthcare from $24.00 to $25.00 and gave the stock an outperform rating in a research report on Wednesday, October 26th. TheStreet raised NextGen Healthcare from a c rating to a b- rating in a research report on Wednesday, October 26th. StockNews.com downgraded NextGen Healthcare from a strong-buy rating to a buy rating in a research report on Friday. Finally, Piper Sandler reissued a neutral rating and set a $20.00 target price on shares of NextGen Healthcare in a research note on Friday, October 21st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, NextGen Healthcare currently has an average rating of Moderate Buy and a consensus price target of $22.75.

Insider Transactions at NextGen Healthcare

In related news, CTO David A. Metcalfe sold 32,372 shares of the firm’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $20.58, for a total value of $666,215.76. Following the transaction, the chief technology officer now directly owns 161,179 shares of the company’s stock, valued at approximately $3,317,063.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CTO David A. Metcalfe sold 32,372 shares of the firm’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $20.58, for a total value of $666,215.76. Following the transaction, the chief technology officer now directly owns 161,179 shares of the company’s stock, valued at approximately $3,317,063.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mitchell Waters sold 9,783 shares of the firm’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $20.50, for a total transaction of $200,551.50. Following the completion of the transaction, the executive vice president now directly owns 70,469 shares in the company, valued at $1,444,614.50. The disclosure for this sale can be found here. Insiders have sold a total of 110,788 shares of company stock valued at $2,246,225 in the last ninety days. 4.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NXGN. Teachers Retirement System of The State of Kentucky acquired a new stake in NextGen Healthcare in the 3rd quarter valued at about $343,000. Thrivent Financial for Lutherans raised its holdings in NextGen Healthcare by 3.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 56,953 shares of the company’s stock valued at $1,008,000 after acquiring an additional 1,772 shares during the last quarter. UBS Asset Management Americas Inc. raised its holdings in NextGen Healthcare by 14.3% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 69,575 shares of the company’s stock valued at $1,231,000 after acquiring an additional 8,679 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in NextGen Healthcare by 8.5% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 48,863 shares of the company’s stock valued at $865,000 after acquiring an additional 3,808 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in NextGen Healthcare by 1.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 515,541 shares of the company’s stock valued at $9,125,000 after acquiring an additional 9,705 shares during the last quarter. 73.70% of the stock is owned by hedge funds and other institutional investors.

About NextGen Healthcare

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NextGen Healthcare, Inc provides healthcare technology solutions in the United States. The company offers clinical care solutions, including NextGen Enterprise EHR; financial solutions, such as NextGen Enterprise PM; patient engagement solutions comprising NextGen Virtual Visits; integrated clinical care and financial solutions consisting of NextGen Office; interoperability solutions that include NextGen Share and Mirth Connect; data and analytics solutions, which comprise NextGen Health Data Hub; and value based care solutions, including NextGen Population Health Solutions.

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

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