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

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

NextGen Healthcare Trading Up 1.3 %

NXGN traded up $0.22 on Friday, hitting $17.12. 333,233 shares of the stock traded hands, compared to its average volume of 383,095. NextGen Healthcare has a 52 week low of $13.64 and a 52 week high of $21.87. The firm has a market capitalization of $1.16 billion, a PE ratio of 570.86 and a beta of 1.14. The business has a fifty day moving average price of $17.66 and a two-hundred day moving average price of $18.95.

NextGen Healthcare (NASDAQ:NXGNGet Rating) last issued its quarterly earnings results on Tuesday, May 17th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. 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 for the quarter, compared to analyst estimates of $150.07 million. During the same period in the previous year, the company posted $0.13 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts forecast that NextGen Healthcare will post 0.61 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, Director Craig A. Barbarosh sold 3,500 shares of the firm’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $19.01, for a total transaction of $66,535.00. Following the sale, the director now owns 71,183 shares of the company’s stock, valued at approximately $1,353,188.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Craig A. Barbarosh sold 3,500 shares of the firm’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $19.01, for a total transaction of $66,535.00. Following the sale, the director now owns 71,183 shares of the company’s stock, valued at approximately $1,353,188.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO David A. Metcalfe sold 33,838 shares of the stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $20.00, for a total value of $676,760.00. Following the transaction, the chief technology officer now owns 155,013 shares of the company’s stock, valued at approximately $3,100,260. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,338 shares of company stock valued at $867,755. 4.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On NextGen Healthcare

A number of large investors have recently added to or reduced their stakes in NXGN. Captrust Financial Advisors grew its holdings in shares of NextGen Healthcare by 61.5% in the 1st quarter. Captrust Financial Advisors now owns 4,255 shares of the company’s stock valued at $89,000 after acquiring an additional 1,620 shares in the last quarter. Natixis Advisors L.P. bought a new position in shares of NextGen Healthcare in the 1st quarter valued at about $280,000. Jane Street Group LLC bought a new position in shares of NextGen Healthcare in the 1st quarter valued at about $294,000. Ergoteles LLC bought a new position in shares of NextGen Healthcare in the 1st quarter valued at about $362,000. Finally, Eqis Capital Management Inc. bought a new position in shares of NextGen Healthcare in the 1st quarter valued at about $362,000. Institutional investors own 71.15% of the company’s stock.

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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