Nextgen Healthcare Inc (NASDAQ:NXGN) Expected to Post Quarterly Sales of $135.83 Million

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Equities analysts expect that Nextgen Healthcare Inc (NASDAQ:NXGN) will announce sales of $135.83 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Nextgen Healthcare’s earnings, with the highest sales estimate coming in at $136.30 million and the lowest estimate coming in at $135.01 million. Nextgen Healthcare posted sales of $134.79 million in the same quarter last year, which would indicate a positive year over year growth rate of 0.8%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Monday, May 4th.

On average, analysts expect that Nextgen Healthcare will report full year sales of $541.25 million for the current financial year, with estimates ranging from $538.87 million to $543.80 million. For the next fiscal year, analysts expect that the firm will report sales of $525.62 million, with estimates ranging from $480.00 million to $565.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Nextgen Healthcare.

A number of research firms have weighed in on NXGN. Jefferies Financial Group cut their price target on Nextgen Healthcare from $14.00 to $11.50 and set a “hold” rating on the stock in a research note on Wednesday, April 22nd. Robert W. Baird cut their price target on Nextgen Healthcare from $16.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Piper Sandler cut their price target on Nextgen Healthcare from $21.00 to $17.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 5th. BidaskClub cut Nextgen Healthcare from a “hold” rating to a “sell” rating in a research note on Tuesday, May 5th. Finally, Royal Bank of Canada began coverage on Nextgen Healthcare in a research note on Monday, April 20th. They issued a “sector perform” rating and a $11.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. Nextgen Healthcare has a consensus rating of “Hold” and an average price target of $12.38.

In other news, CFO James Robert Jr. Arnold acquired 5,000 shares of the company’s stock in a transaction on Friday, March 13th. The shares were bought at an average price of $9.20 per share, with a total value of $46,000.00. Following the completion of the acquisition, the chief financial officer now owns 328,766 shares in the company, valued at approximately $3,024,647.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey H. Margolis purchased 10,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were bought at an average cost of $9.26 per share, for a total transaction of $92,600.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 15,575 shares of company stock worth $143,476. Corporate insiders own 18.50% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NXGN. Norges Bank purchased a new position in shares of Nextgen Healthcare during the fourth quarter worth about $26,299,000. Investment Counselors of Maryland LLC grew its holdings in shares of Nextgen Healthcare by 70.7% during the first quarter. Investment Counselors of Maryland LLC now owns 2,316,956 shares of the company’s stock worth $24,189,000 after buying an additional 959,437 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Nextgen Healthcare by 84.1% during the first quarter. Acadian Asset Management LLC now owns 754,500 shares of the company’s stock worth $7,875,000 after buying an additional 344,628 shares during the last quarter. Matarin Capital Management LLC purchased a new position in shares of Nextgen Healthcare during the first quarter worth about $2,390,000. Finally, Panagora Asset Management Inc. grew its holdings in shares of Nextgen Healthcare by 23,518.2% during the fourth quarter. Panagora Asset Management Inc. now owns 216,579 shares of the company’s stock worth $3,480,000 after buying an additional 215,662 shares during the last quarter. 71.22% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ NXGN opened at $9.78 on Friday. Nextgen Healthcare has a 12-month low of $5.10 and a 12-month high of $21.12. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.19. The stock has a market cap of $645.19 million, a P/E ratio of 40.75, a PEG ratio of 3.72 and a beta of 0.98. The business’s fifty day simple moving average is $10.04 and its 200-day simple moving average is $13.45.

About Nextgen Healthcare

NextGen Healthcare, Inc provides software, services, and analytics solutions to medical and dental group practices in the United States. The company's principal products include NextGen Enterprise EHR, which stores and maintains clinical patient information; and a workflow module, prescription management, automatic document and letter generation, patient education, referral tracking, interfaces to billing and lab systems, physician alerts and reminders, and reporting and data analysis tools.

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

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