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Clinigence Holdings
(NASDAQ:NUTX)
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Rating:79Outperform
Price Target:
$213.00
▲(13.24% Upside)
Action:Reiterated
Date:08/25/26
NUTX scores well primarily due to improved financial performance (especially strong recent cash flow and profitability) and supportive technical momentum with the stock trading above key moving averages. A low P/E further supports the score. The main constraints are revenue softness/volatility history, higher business risk signaled by elevated beta, and event-driven risks such as the cybersecurity incident and ongoing payer-behavior uncertainty.
Positive Factors
Strong Cash Generation
Strong operating and free cash flow improves Nutex’s ability to fund operations, reduce reliance on external capital, and absorb business volatility. Recent cash conversion is encouraging, although prior-period inconsistency means sustainability should remain monitored.
Negative Factors
Revenue Softness
Reported revenue contraction weakens visibility into underlying growth and may limit operating leverage. Management attributes part of the decline to prior IDR catch-up effects and normalization, but the company still has a volatile multi-year top-line history.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Cash Generation
Strong operating and free cash flow improves Nutex’s ability to fund operations, reduce reliance on external capital, and absorb business volatility. Recent cash conversion is encouraging, although prior-period inconsistency means sustainability should remain monitored.
Read all positive factors
Clinigence Holdings (NUTX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.30B
Dividend YieldN/A
Average Volume (3M)120.76K
Price to Earnings (P/E)7.2
Beta (1Y)2.05
Revenue Growth6.88%
EPS Growth155.98%
CountryUS
Employees1,037
SectorHealthcare
Sector Strength45
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)26.23
Shares Outstanding6,847,973
10 Day Avg. Volume109,184
30 Day Avg. Volume120,759
Financial Highlights & Ratios
PEG Ratio1.68
Price to Book (P/B)3.18
Price to Sales (P/S)1.20
P/FCF Ratio4.26
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$266.67Price Target Upside41.77% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)27.3
Revenue Forecast (FY)$871.46M
Clinigence Holdings Business Overview & Revenue Model
Company Description
Nutex Health, Inc. functions as a technology-powered enterprise delivering healthcare services, structured into two key segments: its Hospital division and its Population Health Management division. The Hospital division is tasked with developing ...
Clinigence Holdings Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 24, 2026
Earnings Call Sentiment Positive
The call emphasized multiple meaningful operational and financial positives: a large jump in net income driven by lower non-cash/one-time expenses (notably stock-based compensation swing), stronger adjusted EBITDA and operating income, cash-flow improvement, meaningful cost reductions tied to the HaloMD amendment and a CMS IDR fee cut, sustained patient-volume growth and an active de novo development pipeline. Offsetting these positives were declines in reported revenue year-over-year (largely explained by prior-period IDR catch-up effects), higher G&A as a percent of revenue, and slower-than-desired insurer behavior and contract progress. On balance, the scale and persistence of the liquidity, profitability, arbitration cost savings, and volume improvements outweigh the revenue comparability headwinds and insurer uncertainties.Positive Updates
Sharp Increase in Net Income
Net income attributable to Nutex increased to $112.6 million for the first half of 2026, a 3,100% increase from $3.5 million in the same period of 2025. Q2 net income was $65.8 million versus a Q2 2025 net loss of $17.7 million (increase of $83.5 million).
Negative Updates
Decline in Reported Revenue
Total revenue decreased 13.6% in Q2 2026 to $210.8 million (from $244.0M in Q2 2025). For the first half, revenue decreased 6.3% to $427.2 million from $455.8 million. Hospital division revenue fell 14.6% in Q2 to $201.9M and 7.0% for the first half to $409.4M.
Read all updates
Q2-2026 Updates
Positive
Negative
Sharp Increase in Net Income
Net income attributable to Nutex increased to $112.6 million for the first half of 2026, a 3,100% increase from $3.5 million in the same period of 2025. Q2 net income was $65.8 million versus a Q2 2025 net loss of $17.7 million (increase of $83.5 million).
Read all positive updates
Company Guidance
Management reiterated a constructive outlook: for the first half of 2026 total revenue was $427.2M (down 6.3% y/y) with Q2 revenue $210.8M (down 13.6% y/y), net income attributable rose to $112.6M YTD (a ~3,100% increase from $3.5M) and Q2 net income was $65.8M, adjusted EBITDA was $147.5M YTD (up 2.2%) and $90.0M in Q2 (up 25.7%), hospital visits were 99,704 YTD (up 6.2%) with Q2 hospital visits 49,962 (up 9.6%) and same-hospital growth of 3.4% YTD / 6.3% in Q2, revenue per visit has normalized to roughly $4,000–$4,200 (vs a Q2‑25 spike of $5,185 from catch‑up), the company submits ~50–60% of claims to IDR, prevails on >85% of determinations and collects >80% of wins, and management expects arbitration/contract‑services costs to decline ~25–30% overall (arbitration-specific costs moving to the high teens/low‑20s% of arbitration revenue) after CMS cut the IDR fee from $115 to $15 and a HaloMD amendment that materially reduced costs (roughly $38.4M and $9.6M elements and ~ $4.3M Q2 CMS fee benefit); balance sheet/operating metrics noted: cash ~ $205–207M, net long‑term debt ~$31.1M, accounts receivable $351.7M, net cash from operations $109.7M (up 40%), Q2 gross margin 67% (54.5% YTD), G&A ~7.9% Q2 /7.3% YTD, employee turnover 6.8%, and a continued development cadence of 3–5 new hospitals per year with three openings expected in Q3–Q4 2026.Clinigence Holdings Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
69
Positive
Cash Flow
82
Very Positive
| Breakdown | TTM | Dec 2025 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 846.72M | 875.26M | 479.95M | 247.65M | 219.29M | 331.53M |
| Gross Profit | 434.03M | 444.28M | 196.26M | 34.77M | 15.42M | 179.28M |
| EBITDA | 384.31M | 287.54M | 148.65M | -14.58M | -394.03M | 183.45M |
| Net Income | 179.92M | 70.79M | 52.18M | -45.79M | -424.78M | 132.59M |
Balance Sheet | ||||||
| Total Assets | 964.63M | 918.52M | 655.32M | 398.25M | 431.75M | 394.65M |
| Cash, Cash Equivalents and Short-Term Investments | 205.21M | 185.57M | 43.58M | 22.00M | 34.26M | 36.12M |
| Total Debt | 347.34M | 351.39M | 340.30M | 275.76M | 267.20M | 178.55M |
| Total Liabilities | 457.32M | 495.09M | 453.43M | 319.14M | 311.42M | 203.07M |
| Stockholders Equity | 394.32M | 329.45M | 146.34M | 61.45M | 95.86M | 114.65M |
Cash Flow | ||||||
| Free Cash Flow | 274.17M | 245.60M | 20.85M | -8.24M | 35.97M | 136.51M |
| Operating Cash Flow | 279.62M | 248.13M | 23.15M | 1.26M | 50.61M | 173.43M |
| Investing Cash Flow | -9.12M | -5.24M | -2.67M | -11.24M | -4.34M | -36.98M |
| Financing Cash Flow | -160.43M | -97.95M | 1.09M | -2.27M | -48.13M | -125.85M |
Clinigence Holdings Technical Analysis
Positive
188.10
Price Trends
170.70
Positive
147.38
Positive
139.09
Positive
Market Momentum
8.13
Negative
57.82
Neutral
70.25
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 188.1 is above the 20-day moving average (MA) of 179.42, above the 50-day MA of 170.70, and above the 200-day MA of 139.09, indicating a bullish trend. The MACD of 8.13 indicates Negative momentum. The RSI at 57.82 is Neutral, neither overbought nor oversold. The STOCH value of 70.25 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 59 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 |
|---|---|---|---|---|---|---|---|
79 Outperform | $1.30B | 7.22 | 51.88% | ― | 6.88% | 155.98% | |
73 Outperform | $1.47B | -67.16 | -9.20% | ― | 14.13% | 62.92% | |
64 Neutral | $1.55B | 19.93 | 5.21% | ― | 3.34% | -69.26% | |
62 Neutral | $1.30B | 39.45 | 9.51% | ― | 37.90% | 15.84% | |
57 Neutral | $1.34B | 12.82 | 15.31% | ― | 23.99% | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $1.55B | -6.02 | -119.35% | ― | 0.32% | 23.86% |
* Healthcare Sector Average
NUTX
Clinigence Holdings
189.25
108.33
133.87%
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AGL
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92.54
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189.19%
ARDT
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10.96
-1.71
-13.50%
Clinigence Holdings Corporate Events
Business Operations and StrategyRegulatory Filings and Compliance
Clinigence Holdings Reports Cybersecurity Incident at Nutex Health
Negative
Aug 24, 2026
Nutex Health Inc. recently disclosed that it detected unauthorized activity involving data stored on its computer network, prompting the engagement of an independent cybersecurity response team, activation of its response plan, containment measure...
Legal Proceedings
Appeals Court Ruling Alters No Surprises Act Payments
Positive
Aug 13, 2026
On August 11, 2026, the U.S. Fifth Circuit Court of Appeals, sitting en banc, vacated key portions of a July 2021 interim rule that had allowed health insurers to use “ghost rates” and exclude bonus and incentive payments when calculat...
Business Operations and StrategyRegulatory Filings and Compliance
Clinigence Holdings Revises Dispute Resolution Services Agreement
Positive
Jul 21, 2026
Effective June 30, 2026, Nutex Health Inc. amended its Payment Dispute Resolution Services Agreement with HaloMD, shifting fees to a pay-on-collected basis retroactive to May 1, 2024 and revising service fee structures for settlements obtained on ...
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.