Benchmark Co. analyst Bill Sutherland maintained a Buy rating on Clinigence Holdings (NUTX – Research Report) today and set a price target of $150.00.
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Bill Sutherland has given his Buy rating due to a combination of factors that highlight Clinigence Holdings’ strong financial performance and strategic successes. The company reported a significant revenue increase in the first quarter, with total revenue reaching $211.9 million, a 214% year-over-year growth, surpassing the estimated $121 million. This impressive performance was largely driven by successful rate arbitration under the No Surprise Act, which contributed approximately $105 million to the revenue, far exceeding the anticipated $35 million.
Additionally, Nutex Health Inc. demonstrated robust growth in patient visits and revenue per visit, with a 20.5% increase in patient visits and a 37% rise in revenue per visit year-over-year. The company’s adjusted EBITDA also showed a remarkable improvement, reaching $72.8 million compared to a negative $0.4 million in the previous year. These financial achievements, coupled with a high success rate in arbitration processes, underpin Sutherland’s positive outlook and Buy rating for the stock.
Sutherland covers the Healthcare sector, focusing on stocks such as AMN Healthcare Services, Surgery Partners, and Clinigence Holdings. According to TipRanks, Sutherland has an average return of -2.9% and a 39.47% success rate on recommended stocks.