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

NextGen Healthcare (NASDAQ:NXGNGet Rating) issued an update on its FY 2023 earnings guidance on Thursday morning. The company provided EPS guidance of $0.92-$0.98 for the period, compared to the consensus EPS 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.

Analysts Set New Price Targets

Separately, Guggenheim raised shares of NextGen Healthcare from a neutral rating to a buy rating and set a $26.00 target price for the company in a research report on Friday, May 6th.

NextGen Healthcare Stock Up 1.3 %

Shares of NXGN stock traded up $0.22 on Friday, reaching $17.12. The company had a trading volume of 333,233 shares, compared to its average volume of 383,095. The stock has a market capitalization of $1.16 billion, a PE ratio of 570.86 and a beta of 1.14. NextGen Healthcare has a one year low of $13.64 and a one year high of $21.87. The business’s 50-day moving average is $17.66 and its 200 day moving average is $18.95.

NextGen Healthcare (NASDAQ:NXGNGet Rating) last released its quarterly earnings data 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 company had revenue of $151.26 million during the quarter, compared to the consensus estimate of $150.07 million. During the same quarter in the prior year, the firm posted $0.13 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts forecast that NextGen Healthcare will post 0.61 earnings per share for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On NextGen Healthcare

A number of institutional investors and hedge funds have recently modified their holdings of NXGN. American Century Companies Inc. boosted its holdings in shares of NextGen Healthcare by 2.1% during the 1st quarter. American Century Companies Inc. now owns 50,366 shares of the company’s stock worth $1,053,000 after buying an additional 1,031 shares in the last quarter. Natixis Advisors L.P. bought a new position in shares of NextGen Healthcare in the 1st quarter worth $280,000. MetLife Investment Management LLC lifted its holdings in shares of NextGen Healthcare by 49.4% in the 1st quarter. MetLife Investment Management LLC now owns 32,724 shares of the company’s stock worth $684,000 after purchasing an additional 10,823 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of NextGen Healthcare by 11.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 48,421 shares of the company’s stock worth $1,012,000 after purchasing an additional 5,004 shares in the last quarter. Finally, APG Asset Management N.V. bought a new position in shares of NextGen Healthcare in the 1st quarter worth $958,000. 71.15% of the stock is currently owned by institutional investors.

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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