NextGen Healthcare, Inc. (NASDAQ:NXGN) Expected to Post Quarterly Sales of $152.88 Million

Equities research analysts expect NextGen Healthcare, Inc. (NASDAQ:NXGNGet Rating) to post sales of $152.88 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for NextGen Healthcare’s earnings. The lowest sales estimate is $152.54 million and the highest is $153.50 million. NextGen Healthcare reported sales of $146.08 million in the same quarter last year, which indicates a positive year-over-year growth rate of 4.7%. The business is scheduled to report its next earnings report on Monday, January 1st.

On average, analysts expect that NextGen Healthcare will report full-year sales of $633.26 million for the current year, with estimates ranging from $628.27 million to $636.10 million. For the next financial year, analysts forecast that the company will post sales of $670.55 million, with estimates ranging from $644.76 million to $684.90 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover NextGen Healthcare.

NextGen Healthcare (NASDAQ:NXGNGet Rating) last issued its quarterly earnings data on Tuesday, May 17th. The company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. 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 for the quarter, compared to the consensus estimate of $150.07 million. During the same quarter last year, the company earned $0.13 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year.

A number of equities research analysts have commented on the company. Guggenheim upgraded NextGen Healthcare from a “neutral” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Friday, May 6th. Zacks Investment Research cut NextGen Healthcare from a “hold” rating to a “sell” rating and set a $21.00 price objective for the company. in a research note on Thursday, May 5th. Finally, StockNews.com assumed coverage on NextGen Healthcare in a research note on Thursday, March 31st. They issued a “strong-buy” rating for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, NextGen Healthcare has an average rating of “Buy” and a consensus target price of $22.17.

In related news, CTO David A. Metcalfe sold 33,838 shares of NextGen Healthcare stock in a transaction that occurred on Monday, April 25th. The stock was sold at an average price of $20.11, for a total transaction of $680,482.18. Following the completion of the transaction, the chief technology officer now directly owns 155,013 shares in the company, valued at $3,117,311.43. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO David Ahmadzai sold 6,250 shares of the firm’s stock in a transaction that occurred on Tuesday, March 15th. The shares were sold at an average price of $19.55, for a total value of $122,187.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,926 shares of company stock valued at $1,620,410. 18.70% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Advisor Group Holdings Inc. grew its holdings in NextGen Healthcare by 12.0% in the fourth quarter. Advisor Group Holdings Inc. now owns 5,127 shares of the company’s stock valued at $92,000 after purchasing an additional 548 shares during the period. Louisiana State Employees Retirement System grew its holdings in NextGen Healthcare by 2.2% in the fourth quarter. Louisiana State Employees Retirement System now owns 27,800 shares of the company’s stock valued at $495,000 after purchasing an additional 600 shares during the period. Maryland State Retirement & Pension System grew its holdings in NextGen Healthcare by 3.5% in the fourth quarter. Maryland State Retirement & Pension System now owns 22,901 shares of the company’s stock valued at $407,000 after purchasing an additional 780 shares during the period. Teacher Retirement System of Texas grew its holdings in NextGen Healthcare by 8.0% in the first quarter. Teacher Retirement System of Texas now owns 11,939 shares of the company’s stock valued at $250,000 after purchasing an additional 886 shares during the period. Finally, American Century Companies Inc. grew its holdings in NextGen Healthcare by 2.1% in the first quarter. American Century Companies Inc. now owns 50,366 shares of the company’s stock valued at $1,053,000 after purchasing an additional 1,031 shares during the period. 71.15% of the stock is currently owned by institutional investors.

NextGen Healthcare stock opened at $18.12 on Thursday. The stock has a 50-day moving average of $19.86 and a two-hundred day moving average of $18.78. NextGen Healthcare has a one year low of $13.64 and a one year high of $21.87. The stock has a market cap of $1.22 billion, a PE ratio of 604.20 and a beta of 1.17.

NextGen Healthcare Company Profile (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.

Featured Stories

Get a free copy of the Zacks research report on NextGen Healthcare (NXGN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for NextGen Healthcare (NASDAQ:NXGN)

Want More Great Investing Ideas?

Receive News & Ratings for NextGen Healthcare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NextGen Healthcare and related companies with MarketBeat.com's FREE daily email newsletter.