NextGen Healthcare (NASDAQ:NXGN) Updates 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 guidance of $0.93-0.99 for the period, compared to the consensus earnings per share 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.

Analyst Upgrades and Downgrades

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

NextGen Healthcare Stock Performance

NASDAQ NXGN traded down $0.20 during trading on Tuesday, reaching $17.08. The company’s stock had a trading volume of 407,772 shares, compared to its average volume of 447,060. The firm has a market cap of $1.15 billion, a price-to-earnings 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. The business’s fifty day moving average price is $18.93 and its 200-day moving average price is $18.29.

NextGen Healthcare (NASDAQ:NXGNGet Rating) last posted its quarterly earnings data on Tuesday, October 25th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). The business had revenue of $159.44 million during the quarter, compared to analyst estimates of $156.46 million. NextGen Healthcare had a net margin of 3.31% and a return on equity of 6.50%. As a group, sell-side analysts forecast that NextGen Healthcare will post 0.58 EPS for the current fiscal year.

Insider Buying and Selling at NextGen Healthcare

In other NextGen Healthcare news, EVP Mitchell Waters sold 3,889 shares of NextGen Healthcare stock in a transaction on Wednesday, October 26th. The shares were sold at an average price of $20.00, for a total value of $77,780.00. Following the transaction, the executive vice president now directly owns 62,725 shares in the company, valued at $1,254,500. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Mitchell Waters sold 3,889 shares of the business’s stock in a transaction dated Wednesday, October 26th. The shares were sold at an average price of $20.00, for a total transaction of $77,780.00. Following the transaction, the executive vice president now directly owns 62,725 shares in the company, valued at $1,254,500. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO David A. Metcalfe sold 32,372 shares of the business’s stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $20.58, for a total transaction of $666,215.76. Following the transaction, the chief technology officer now owns 161,179 shares in the company, valued at $3,317,063.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,788 shares of company stock worth $2,246,225. 4.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NXGN. Lazard Asset Management LLC boosted its holdings in NextGen Healthcare by 372.6% during the first quarter. Lazard Asset Management LLC now owns 24,723 shares of the company’s stock worth $516,000 after buying an additional 19,492 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in NextGen Healthcare by 38.8% during the first quarter. Hsbc Holdings PLC now owns 22,436 shares of the company’s stock worth $470,000 after buying an additional 6,268 shares in the last quarter. Royal Bank of Canada boosted its holdings in 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. purchased a new stake in NextGen Healthcare during the first quarter worth about $416,000. Finally, Eqis Capital Management Inc. purchased a new stake in NextGen Healthcare during the first quarter worth about $362,000. 73.70% of the stock is currently owned by institutional investors and hedge funds.

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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