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

NextGen Healthcare (NASDAQ:NXGNGet Rating) updated its FY 2023 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.92-$0.98 for the period, compared to the consensus estimate of $0.98. The company issued revenue guidance of $621.00 million-$633.00 million, compared to the consensus revenue estimate of $634.04 million.

Analyst Upgrades and Downgrades

Separately, Guggenheim raised NextGen Healthcare from a neutral rating to a buy rating and set a $26.00 price objective on the stock in a research note on Friday, May 6th.

NextGen Healthcare Stock Up 1.3 %

Shares of NextGen Healthcare stock traded up $0.22 during trading on Friday, reaching $17.12. The company’s stock had a trading volume of 333,233 shares, compared to its average volume of 383,095. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 570.86 and a beta of 1.14. NextGen Healthcare has a 1-year low of $13.64 and a 1-year high of $21.87. The company has a 50-day simple moving average of $17.66 and a two-hundred day simple moving average of $18.95.

NextGen Healthcare (NASDAQ:NXGNGet Rating) last posted its quarterly earnings data on Tuesday, May 17th. The company reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. The firm had revenue of $151.26 million during the quarter, compared to analysts’ expectations of $150.07 million. NextGen Healthcare had a return on equity of 10.11% and a net margin of 0.27%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.13 EPS. As a group, analysts anticipate that NextGen Healthcare will post 0.61 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Craig A. Barbarosh sold 3,500 shares of the firm’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $17.39, for a total value of $60,865.00. Following the completion of the transaction, the director now owns 64,183 shares in the company, valued at approximately $1,116,142.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NextGen Healthcare news, CTO David A. Metcalfe sold 33,838 shares of NextGen Healthcare stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $20.00, for a total transaction of $676,760.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is accessible through this link. Also, Director Craig A. Barbarosh sold 3,500 shares of NextGen Healthcare stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $17.39, for a total value of $60,865.00. Following the transaction, the director now owns 64,183 shares of the company’s stock, valued at approximately $1,116,142.37. The disclosure for this sale can be found here. Insiders sold 44,338 shares of company stock worth $867,755 in the last 90 days. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On NextGen Healthcare

A number of institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its position in shares of NextGen Healthcare by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,346,449 shares of the company’s stock valued at $49,065,000 after acquiring an additional 18,533 shares during the period. State Street Corp grew its position in shares of NextGen Healthcare by 2.2% during the 1st quarter. State Street Corp now owns 2,037,540 shares of the company’s stock valued at $42,605,000 after acquiring an additional 43,680 shares during the period. Invesco Ltd. boosted its holdings in NextGen Healthcare by 104.3% in the 1st quarter. Invesco Ltd. now owns 704,170 shares of the company’s stock worth $14,725,000 after buying an additional 359,501 shares during the last quarter. Prudential Financial Inc. boosted its holdings in NextGen Healthcare by 10.7% in the 1st quarter. Prudential Financial Inc. now owns 482,746 shares of the company’s stock worth $10,094,000 after buying an additional 46,684 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in NextGen Healthcare by 15.1% in the 1st quarter. Sei Investments Co. now owns 176,868 shares of the company’s stock worth $3,698,000 after buying an additional 23,244 shares during the last quarter. 71.15% of the stock is currently owned by institutional investors and hedge funds.

NextGen Healthcare Company Profile

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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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