Clinigence Holdings Inc (NUTX)
NASDAQ:NUTX
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Clinigence Holdings
(NASDAQ:NUTX)
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Rating:71Outperform
Price Target:
$120.00
▼(-34.82% Downside)
Action:UpgradedDate:04/24/26
The score is driven primarily by improving fundamentals and standout cash generation, supported by generally positive earnings-call guidance and capital allocation (buybacks, expansion plans). These positives are moderated by leverage and revenue/IDR-related volatility risks, while the technical picture is only moderately supportive and valuation appears fair rather than clearly cheap.
Positive Factors
Cash Generation
The company generated roughly $248M of operating cash and nearly matched net income with free cash flow, with FCF up ~39% in 2025. Durable cash conversion underpins reinvestment, buybacks and debt servicing capacity, reducing long‑term financing risk and supporting strategic initiatives.
Negative Factors
Elevated Leverage
Leverage remains meaningfully elevated versus conservative capital structures. A debt load slightly above equity and past peaks above 4x amplify downside risk if margins or cash flow weaken, constrain strategic flexibility, and increase sensitivity to higher interest rates or refinancing needs over the next several quarters.
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Positive Factors
Negative Factors
Cash Generation
The company generated roughly $248M of operating cash and nearly matched net income with free cash flow, with FCF up ~39% in 2025. Durable cash conversion underpins reinvestment, buybacks and debt servicing capacity, reducing long‑term financing risk and supporting strategic initiatives.
Read all positive factors
Clinigence Holdings (NUTX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$754.25M
Dividend YieldN/A
Average Volume (3M)189.89K
Price to Earnings (P/E)15.6
Beta (1Y)2.01
Revenue Growth82.36%
EPS Growth15.13%
CountryUS
Employees800
SectorHealthcare
Sector Strength45
IndustryMedical - Healthcare Information Services
Share Statistics
EPS (TTM)1.69
Shares Outstanding6,968,350
10 Day Avg. Volume219,982
30 Day Avg. Volume189,891
Financial Highlights & Ratios
PEG Ratio1.77
Price to Book (P/B)3.35
Price to Sales (P/S)1.26
P/FCF Ratio4.49
Enterprise Value/Market Cap1.07
Enterprise Value/Revenue0.93
Enterprise Value/Gross Profit1.82
Enterprise Value/Ebitda2.90
Forecast
1Y Price Target
$225.00Price Target Upside22.21% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)19.78
Revenue Forecast (FY)$989.61M
Clinigence Holdings Business Overview & Revenue Model
Company Description
Nutex Health, Inc. operates as a technology-enabled healthcare services company. It operates through two divisions: Hospital division and Population Health Management division. The Hospital division implements and operates health care models, incl...
How the Company Makes Money
The company generates revenue through its healthcare analytics platform, which is licensed to healthcare organizations such as physician groups, health systems, and accountable care organizations (ACOs). Additionally, Clinigence Holdings earns inc...
Clinigence Holdings Earnings Call Summary
Earnings Call Date:Mar 05, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 19, 2026
Earnings Call Sentiment Positive
The call presents a predominantly positive long‑term operational and financial story—very strong full‑year revenue growth (+82.4%), major margin and cash‑flow improvements, profitable and expanding IPAs, high patient satisfaction, and disciplined capital allocation. The principal negatives were a material, timing‑driven Q4 revenue/earnings hit from a CMS‑driven IDR true‑up and a large one‑time stock‑based compensation charge; these items created quarter volatility but appear to be nonrecurring or better understood by management. Given the substantial year‑over‑year improvements in revenue, adjusted EBITDA, cash flow and margins that outweigh the one‑time/quarterly headwinds and controllable operational initiatives underway, the overall sentiment is positive.Positive Updates
Record Full-Year Revenue Growth
Total revenue of $875.3M for FY2025, up 82.4% from $479.9M in FY2024, driven by hospital division expansion and stronger collections.
Negative Updates
Material Q4 Revenue Decline Due to One-Time Arbitration True-Up
Fourth quarter 2025 revenue fell to $151.7M, a 41.1% decline vs Q4 2024, primarily driven by a one-time $55M cumulative true-up related to 18,950 arbitration/IDR claims deemed ineligible (periods July 2024–Dec 2025). Management estimates Q4 adjusted revenue excluding the true-up would be ~$206.7M.
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Q4-2025 Updates
Positive
Negative
Record Full-Year Revenue Growth
Total revenue of $875.3M for FY2025, up 82.4% from $479.9M in FY2024, driven by hospital division expansion and stronger collections.
Read all positive updates
Company Guidance
Management's forward guidance emphasized disciplined, profitable growth with four capital priorities — share repurchases (completed $25M program and authorized an additional $25M), growth at existing hospitals (ER/inpatient volume and revenue‑per‑patient initiatives), IPA/Population Health expansion (40,000 members today; launching IPAs in Dallas and San Antonio in 2026) and a capital‑efficient real‑estate play (develop/own through stabilization with potential sale‑leasebacks). They expect three hospital openings in 2026 (Jacksonville, West Little Rock, San Antonio) with ~4 more in 2027, while operating 27 hospitals across 12 states today; operational targets include enterprise tele‑hospitalist coverage in the coming year. Key metrics to monitor: cash $185.6M, net cash from operations $248.1M (12 months), total revenue $875.3M (+82% YoY), adjusted EBITDA $259.6M (+152.6% YoY), hospital visits 188,279 (+11.8% YoY), IDR submission rate ~50–60% (historically 60–70%), prevail rate >85%, collection rate >85%, arbitration cost ~26% of arbitration revenue, and an ineligible IDR rate ~8% (vs ~19% national); management characterized the Q4 ~$55M IDR true‑up as a one‑time timing issue and urged focus on full‑year results.Clinigence Holdings Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
58
Neutral
Cash Flow
85
Very Positive
| Breakdown | Dec 2025 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 875.26M | 479.95M | 247.65M | 219.29M | 331.53M |
| Gross Profit | 444.28M | 196.26M | 34.77M | 15.42M | 179.28M |
| EBITDA | 296.15M | 148.65M | -14.58M | -394.03M | 183.45M |
| Net Income | 70.79M | 52.18M | -45.79M | -424.78M | 132.59M |
Balance Sheet | |||||
| Total Assets | 918.52M | 655.32M | 398.25M | 431.75M | 394.65M |
| Cash, Cash Equivalents and Short-Term Investments | 185.57M | 43.58M | 22.00M | 34.26M | 36.12M |
| Total Debt | 351.39M | 340.30M | 275.76M | 267.20M | 178.55M |
| Total Liabilities | 495.09M | 453.43M | 319.14M | 311.42M | 203.07M |
| Stockholders Equity | 329.45M | 146.34M | 61.45M | 95.86M | 114.65M |
Cash Flow | |||||
| Free Cash Flow | 245.60M | 20.85M | -8.24M | 35.97M | 136.51M |
| Operating Cash Flow | 248.13M | 23.15M | 1.26M | 50.61M | 173.43M |
| Investing Cash Flow | -5.24M | -2.67M | -11.24M | -4.34M | -36.98M |
| Financing Cash Flow | -97.95M | 1.09M | -2.27M | -48.13M | -125.85M |
Clinigence Holdings Technical Analysis
Positive
184.11
Price Trends
100.72
Positive
130.15
Negative
116.79
Negative
Market Momentum
0.89
Negative
53.23
Neutral
55.84
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NUTX, the sentiment is Positive. The current price of 184.11 is above the 20-day moving average (MA) of 100.18, above the 50-day MA of 100.72, and above the 200-day MA of 116.79, indicating a neutral trend. The MACD of 0.89 indicates Negative momentum. The RSI at 53.23 is Neutral, neither overbought nor oversold. The STOCH value of 55.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NUTX.
Clinigence Holdings Risk Analysis
Clinigence Holdings disclosed 62 risk factors in its most recent earnings report. Clinigence Holdings reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Clinigence Holdings Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $754.25M | 15.58 | 23.80% | ― | 82.36% | 15.13% | |
69 Neutral | $624.50M | 37.76 | 5.18% | 0.52% | 4.26% | -7.27% | |
65 Neutral | $2.82B | -46.73 | -5.69% | ― | 5.25% | 77.07% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $349.43M | -0.85 | -69.22% | ― | -26.56% | -531.94% | |
46 Neutral | $145.67M | -2.20 | -47.69% | ― | -4.24% | 64.50% | |
43 Neutral | $101.55M | -0.47 | -54.67% | ― | 1.48% | -119.42% |
* Healthcare Sector Average
NUTX
Clinigence Holdings
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-10.81
-9.08%
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Clinigence Holdings Corporate Events
Executive/Board ChangesShareholder Meetings
Nutex Health Shareholders Approve Directors and Executive Pay
Positive
Apr 23, 2026
At its April 23, 2026 annual meeting, Nutex Health Inc. reported that shareholders representing about 69.29% of eligible common shares participated in voting, reflecting a solid quorum for corporate governance decisions. All seven director nominee...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.