# Nutex Health Inc. (NUTX)

> Source: Nexqual · https://nexqual.com/NUTX · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Nutex Health Inc. (NUTX), nexqual.com/NUTX" · informational, not investment advice.

**Price:** USD 206.09 (+4.29% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 197.61 · day 194.23–206.75 · 52w 83.99–226.16 · market cap $1.41B · NCM

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $847M, net income $180M (21.2% margin), free cash flow $274M (SEC filings).
- Valuation: P/E 7.8x (avg 9.5x at the last 2 fiscal year-ends), EV/EBITDA 3.2x, net cash $166M.
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $43K; 1 not under a Rule 10b5-1 plan ($43K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.80 on a 1–5 scale) (5 analysts), mean target USD 288.2 (range 200–325).
- Total return with dividends: 1Y +75.7% vs S&P 500 +14.9%; 5Y -84.8% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD 5.71, revenue estimate $215M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $332M | $219M | $248M | $480M | $875M | $847M |
| Gross profit | $179M | $15.4M | $34.8M | $196M | $444M | — |
| Operating income | $170M | -$407M | -$31.8M | $131M | $276M | $364M |
| Net income | $133M | -$425M | -$45.8M | $52.1M | $70.8M | $180M |
| EPS (diluted) | $33.00 | -$100.36 | -$10.39 | $9.69 | $10.48 | — |
| Free cash flow | $137M | $36.0M | -$8.2M | $20.8M | $246M | $274M |
| Gross margin | 54.1% | 7.0% | 14.0% | 40.9% | 50.8% | — |
| Operating margin | 51.4% | -185.4% | -12.8% | 27.2% | 31.5% | 43.0% |
| Net margin | 40.0% | -193.7% | -18.5% | 10.9% | 8.1% | 21.2% |
| Revenue growth | +21.0% | -33.9% | +12.9% | +93.8% | +82.4% | — |
| Cash + short-term investments | $36.1M | $34.3M | $22.0M | $40.6M | $186M | — |
| Total debt | $89.0M | $35.6M | $37.1M | $36.9M | $42.5M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 7.8x · P/S 1.7x · EV/EBITDA 3.2x · EV/Sales 1.5x · P/FCF 5.1x · P/B 3.6x · FCF yield 19.43% · Earnings yield 12.75% · Net cash $166M · EV $1.25B
P/E at fiscal year-ends: Dec 2025 15.7x, Dec 2024 3.3x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-18 | Saunders Scott J | Director | 203 | $43K | 33.7% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 1.80 on a 1–5 scale), 5 analysts; mean target USD 288.2 (low 200, high 325).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-25 | Freedom Capital Markets | Target raised | Buy | $280 → $306 |
| 2026-09-04 | B. Riley Securities | Target raised | Buy | $290 → $325 |
| 2026-08-11 | Lake Street | Target raised | Buy | $235 → $310 |
| 2026-06-26 | B. Riley Securities | Initiated | Buy | $290 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2022-04-04) |
|---|---|---|
| Total return | +75.7% | -84.8% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +76.0% | -33.8% |
| Volatility (annualized) | 89.3% | 127.1% |
| Max drawdown | -54.3% (Dec 2025→Mar 2026) | -99.7% (May 2022→Jul 2024) |

## Peers (Medical Care Facilities)
PNTG (The Pennant Group, Inc.) USD 42.23 +2.90% · USPH (U.S. Physical Therapy, Inc.) USD 88.73 +2.84% · AGL (agilon health, inc.) USD 90.29 -0.77% · INNV (InnovAge Holding Corp.) USD 9.52 +4.16% · CMPS (COMPASS Pathways Plc - American) USD 11.63 -1.77% · SNDA (Sonida Senior Living, Inc.) USD 33.87 +1.20%

## More
Full page: https://nexqual.com/NUTX · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in NUTX's own 10-K filed 2026-03-05 (https://www.sec.gov/Archives/edgar/data/1479681/000162828026015168/nutx-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Related party | Physician | "Certain of the Physician LLCs and Real Estate Entities are owned in part and, in some cases, controlled by related parties including members of our executive management team." |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Hospital division revenue | $201.9M | 95.8% | -14.6% |
| Population health management division | $8.9M | 4.2% | +15.8% |
| Total revenue | $210.8M | 100% | — |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Hospital division revenue | $201.9M | 95.8% | -14.6% |
| Population health management division | $8.9M | 4.2% | +15.8% |
| Total revenue | $210.8M | 100% | — |

## Company outlook (8-K filed 2026-08-06)

- "Based on current expectations, we anticipate the impact of these favorable changes will lead to an approximate 25-30% reduction in our normalized historical contract services expenses prospectively."
- "When used in this press release, the words or phrases "will", "will likely result" "expected to," "will continue," "anticipated," "estimate," "projected," "intend," "goal," or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $5.71 | $5.02 | +13.8% | $215.0M | 5 |
| Next quarter (ends 2026-12-31) | $6.21 | $5.05 | +23.0% | $229.8M | 5 |
| Current fiscal year (ends 2026-12-31) | $27.79 | $21.52 | +29.2% | $872.0M | 5 |
| Next fiscal year (ends 2027-12-31) | $27.87 | $23.03 | +21.0% | $964.2M | 5 |