Zacks Research Weighs in on NextGen Healthcare, Inc.’s Q3 2024 Earnings (NASDAQ:NXGN)

NextGen Healthcare, Inc. (NASDAQ:NXGNGet Rating) – Investment analysts at Zacks Research dropped their Q3 2024 EPS estimates for shares of NextGen Healthcare in a report released on Tuesday, January 17th. Zacks Research analyst D. Dey now forecasts that the company will post earnings of $0.22 per share for the quarter, down from their prior estimate of $0.23. The consensus estimate for NextGen Healthcare’s current full-year earnings is $0.58 per share. Zacks Research also issued estimates for NextGen Healthcare’s Q4 2024 earnings at $0.18 EPS and Q2 2025 earnings at $0.19 EPS.

NXGN has been the subject of several other research reports. SVB Leerink upped their target price on shares of NextGen Healthcare from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 26th. TheStreet upgraded shares of NextGen Healthcare from a “c” rating to a “b-” rating in a research note on Wednesday, October 26th. Piper Sandler reissued a “neutral” rating and issued a $20.00 price target on shares of NextGen Healthcare in a report on Friday, October 21st. Finally, StockNews.com downgraded shares of NextGen Healthcare from a “strong-buy” rating to a “buy” rating in a report on Friday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, NextGen Healthcare presently has an average rating of “Moderate Buy” and a consensus target price of $22.75.

NextGen Healthcare Price Performance

NASDAQ NXGN opened at $17.46 on Friday. NextGen Healthcare has a 1 year low of $16.13 and a 1 year high of $21.99. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 56.32 and a beta of 1.02. The company has a fifty day moving average price of $19.05 and a 200-day moving average price of $18.28.

NextGen Healthcare (NASDAQ:NXGNGet Rating) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $156.46 million. NextGen Healthcare had a net margin of 3.31% and a return on equity of 6.50%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NXGN. Clifford Capital Partners LLC boosted its stake in shares of NextGen Healthcare by 1.6% during the third quarter. Clifford Capital Partners LLC now owns 33,757 shares of the company’s stock valued at $597,000 after purchasing an additional 533 shares during the period. Texas Permanent School Fund boosted its stake in shares of NextGen Healthcare by 1.9% during the second quarter. Texas Permanent School Fund now owns 40,596 shares of the company’s stock valued at $708,000 after purchasing an additional 776 shares during the period. First Horizon Advisors Inc. lifted its stake in NextGen Healthcare by 33.0% in the second quarter. First Horizon Advisors Inc. now owns 3,784 shares of the company’s stock worth $66,000 after acquiring an additional 939 shares during the period. American Century Companies Inc. lifted its stake in NextGen Healthcare by 2.1% in the first quarter. American Century Companies Inc. now owns 50,366 shares of the company’s stock worth $1,053,000 after acquiring an additional 1,031 shares during the period. Finally, New York State Teachers Retirement System lifted its stake in NextGen Healthcare by 1.2% in the second quarter. New York State Teachers Retirement System now owns 126,793 shares of the company’s stock worth $2,211,000 after acquiring an additional 1,456 shares during the period. 73.70% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Mitchell Waters sold 3,889 shares of the company’s stock in a transaction that occurred 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 can be accessed through the SEC website. In other NextGen Healthcare news, CTO David A. Metcalfe sold 32,372 shares of the stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $20.00, for a total transaction of $647,440.00. Following the transaction, the chief technology officer now directly owns 178,984 shares in the company, valued at $3,579,680. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mitchell Waters sold 3,889 shares of the stock in a transaction that occurred on 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 owns 62,725 shares in the company, valued at $1,254,500. 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. Insiders own 4.50% 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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