Wall Street analysts predict that NextGen Healthcare, Inc. (NASDAQ:NXGN – Get Rating) will announce sales of $148.20 million for the current quarter, according to Zacks. Four analysts have made estimates for NextGen Healthcare’s earnings, with estimates ranging from $147.97 million to $148.84 million. NextGen Healthcare reported sales of $144.19 million during the same quarter last year, which would suggest a positive year over year growth rate of 2.8%. The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that NextGen Healthcare will report full year sales of $593.30 million for the current fiscal year, with estimates ranging from $593.06 million to $593.93 million. For the next year, analysts forecast that the company will report sales of $620.13 million, with estimates ranging from $602.75 million to $633.00 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow NextGen Healthcare.
NextGen Healthcare (NASDAQ:NXGN – Get Rating) last issued its quarterly earnings results on Tuesday, January 25th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.01). The business had revenue of $149.72 million during the quarter, compared to analyst estimates of $146.32 million. NextGen Healthcare had a net margin of 0.12% and a return on equity of 10.60%. NextGen Healthcare’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the firm posted $0.17 earnings per share.
Several equities research analysts have weighed in on the stock. Guggenheim initiated coverage on shares of NextGen Healthcare in a research note on Wednesday, April 13th. They issued a “neutral” rating for the company. Piper Sandler upped their price target on NextGen Healthcare from $23.00 to $24.00 in a research note on Wednesday, January 26th. SVB Leerink upgraded NextGen Healthcare from a “market perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a report on Thursday, January 6th. Finally, StockNews.com started coverage on NextGen Healthcare in a report on Thursday, March 31st. They set a “strong-buy” rating for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $21.50.
In related news, Director Craig A. Barbarosh sold 3,500 shares of the stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $21.27, for a total transaction of $74,445.00. Following the completion of the transaction, the director now owns 74,683 shares in the company, valued at $1,588,507.41. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Mitchell Waters sold 2,521 shares of the stock in a transaction that occurred on Wednesday, February 2nd. The shares were sold at an average price of $19.11, for a total transaction of $48,176.31. The disclosure for this sale can be found here. Insiders sold a total of 75,896 shares of company stock valued at $1,520,490 over the last three months. 18.70% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the business. William Blair Investment Management LLC bought a new position in shares of NextGen Healthcare during the 4th quarter worth $19,029,000. JPMorgan Chase & Co. grew its stake in NextGen Healthcare by 90.6% in the 4th quarter. JPMorgan Chase & Co. now owns 1,641,388 shares of the company’s stock valued at $29,199,000 after buying an additional 780,320 shares in the last quarter. Norges Bank bought a new stake in NextGen Healthcare during the 4th quarter valued at $12,601,000. BlackRock Inc. lifted its position in shares of NextGen Healthcare by 5.2% during the fourth quarter. BlackRock Inc. now owns 9,930,776 shares of the company’s stock worth $176,668,000 after acquiring an additional 486,441 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of NextGen Healthcare in the fourth quarter worth $5,091,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.
Shares of NASDAQ NXGN opened at $21.09 on Thursday. The firm has a market cap of $1.41 billion, a PE ratio of 2,111.11, a P/E/G ratio of 5.69 and a beta of 1.18. The company’s fifty day simple moving average is $20.10 and its 200 day simple moving average is $17.99. NextGen Healthcare has a 12-month low of $13.64 and a 12-month high of $21.87.
About NextGen Healthcare (Get Rating)
NextGen Healthcare, Inc provides software and services for ambulatory healthcare services in the United States. The company offers patient engagement solutions, comprising of NextGen PxP Portal, NextGen Patient Self Scheduling, NextGen Pay, and NextGen Virtual Visits; clinical care solutions, including NextGen Enterprise HER, NextGen Mobile, NextGen Office, NextGen Behavioral Health Suite, NextGen Orthopedic Suite, and QSIDental Web and QSIDental PM; and financial management solutions, such as NextGen Enterprise PM and NextGen Clearinghouse Solutions.
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