Nutex Health, Inc.
- Open
- 171.40
- Day high
- 183.86
- Day low
- 171.40
- Prev close
- 170.89
- Volume
- 117K
- Mkt cap
- $1.3B
- P/E (TTM)
- 13.6
- EPS (TTM)
- $13.44
- P/B
- 3.6
- P/S
- 1.4
- Yield
- —
- Per share
- —
Nutex Health, Inc. (NUTX) is a Healthcare company listed on NASDAQ. The stock is up 30% over the past year.
Nutex Health, Inc. (NUTX) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
NUTX earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 1, 2026 | $3.99 | $6.52 | +63.4% | $216M | -5.0% |
| Mar 6, 2026 | $5.56 | $1.61 | -71.0% | $152M | -41.4% |
| Nov 19, 2025 | $1.81 | $7.76 | +328.7% | $268M | +25.3% |
| Mar 31, 2025 | $-0.09 | $11.12 | +12455.6% | $258M | +217.6% |
| Nov 8, 2024 | $-0.24 | $-1.72 | -616.7% | $79M | +7.6% |
| Nov 9, 2023 | $-1.50 | $-1.50 | +0.0% | $63M | -6.2% |
| May 15, 2023 | $-3.00 | $-1.50 | +50.0% | $56M | -9.2% |
| Mar 2, 2023 | $-3.00 | $-3.00 | +0.0% | $54M | +7.6% |
| Nov 21, 2022 | — | $-3.00 | — | $28M | — |
| Aug 22, 2022 | — | $-4.50 | — | $58M | — |
| May 13, 2022 | — | $-4.19 | — | $6M | — |
| Nov 15, 2021 | — | $13.61 | — | $118M | — |
NUTX insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Apr 24, 2026 | Grenas Cheryl Yvonnedirector | Grant | 823 | — |
| Apr 24, 2026 | Reed Michael Leedirector | Grant | 823 | — |
| Apr 24, 2026 | Saunders Scott Jdirector | Grant | 823 | — |
| Apr 24, 2026 | Jaumot Frank Edirector | Grant | 823 | — |
| Apr 10, 2026 | Vo Thomas T.director, officer: Chief Executive Officer | Option | 4,841 | — |
| Mar 24, 2026 | Bamburg Wesley Shaneofficer: Chief Operating Officer | Option | 2,411 | — |
| Mar 23, 2026 | Hosseinion Warrendirector, officer: President | Option | 3,656 | — |
| Mar 23, 2026 | Hosseinion Warrendirector, officer: President | Buy | 252 | $94.07 |
| Mar 23, 2026 | Jaumot Frank Edirector | Buy | 150 | $93.56 |
| Mar 16, 2026 | Montgomery Pamela W.officer: Chief Legal Officer-Healthcare | Option | 1,523 | — |
| Mar 16, 2026 | Montgomery Pamela W.officer: Chief Legal Officer-Healthcare | Buy | 79 | $88.87 |
| Mar 11, 2026 | Bates Jon Christianofficer: Chief Financial Officer | Option | 1,694 | — |
| Mar 11, 2026 | Hosseinion Warrendirector, officer: President | Option | 3,656 | — |
| Mar 11, 2026 | Hosseinion Warrendirector, officer: President | Tax | 3,274 | $86.22 |
| Mar 11, 2026 | Hosseinion Warrendirector, officer: President | Option | 6,293 | — |
Source: NUTX SEC Form 4 filings, latest Apr 24, 2026. For informational purposes only — not investment advice.
See the full NUTX insider & 13F page →Nutex Health, Inc. company profile
Overview
Nutex Health, Inc. (NASDAQ:NUTX) is a technology-enabled healthcare services company founded in 2011 and headquartered in Houston, Texas. The company went public in April 2022 and operates through two primary divisions: a Hospital division that owns and operates 21 micro-hospitals across 8 states, and a Population Health Management division that manages provider networks and independent physician associations. Nutex has experienced dramatic financial improvement, transforming from significant losses in 2022-2023 to strong profitability in 2024, largely driven by successful arbitration of insurance reimbursement disputes under the No Surprises Act.
Business
Nutex Health operates in the healthcare services industry, focusing on two distinct but complementary business segments that together serve patients across the healthcare continuum. The Hospital Division represents the company's primary revenue driver, accounting for approximately 94% of total revenue in recent quarters. This division specializes in micro-hospitals, which are smaller-scale healthcare facilities typically ranging from 20,000 to 30,000 square feet with 4 to 20 inpatient beds. Unlike traditional large hospitals, micro-hospitals are designed to provide mid-acuity healthcare services in underserved or growing communities. These facilities offer emergency room services, inpatient care, observation services, outpatient procedures, and diagnostic imaging. The micro-hospital model allows Nutex to serve communities that may not have sufficient population density to support a full-scale hospital but still need comprehensive healthcare services beyond what urgent care centers can provide. The Population Health Management Division accounts for approximately 6% of total revenue and operates provider networks, including independent physician associations (IPAs). This division manages over 40,000 patients and provides management, administrative, and support services to affiliated hospitals and physician groups. The division utilizes a cloud-based proprietary technology platform that aggregates data across multiple information systems and sources to create comprehensive patient and provider profiles, enabling coordinated care delivery. This segment focuses on value-based care arrangements where providers are compensated based on patient outcomes rather than volume of services provided. Both divisions are supported by management services organizations that provide administrative functions, revenue cycle management, and technological infrastructure to optimize operations and financial performance across the network.
Revenue model
Nutex Health generates revenue through multiple streams across its two business divisions, with the hospital division being the primary revenue generator. The Hospital Division operates on a traditional fee-for-service healthcare model, generating revenue through patient visits and procedures. Revenue is collected from insurance companies (both commercial and government payers like Medicare and Medicaid), as well as self-pay patients. The company has significantly improved its revenue realization through aggressive pursuit of fair reimbursement rates via the Independent Dispute Resolution (IDR) process established under the No Surprises Act. This arbitration process has been transformative for Nutex, with the company achieving an 80% win rate and receiving 150-250% increases in reimbursement compared to initial insurance payments. The company submits 60-70% of its billable visits through this arbitration process, which has been crucial to its recent profitability turnaround. The Population Health Management Division generates revenue through capitated payments and shared savings arrangements with health plans, where the company receives a fixed amount per patient per month to manage their healthcare needs. This creates incentives to keep patients healthy and reduce unnecessary healthcare utilization. Several factors significantly impact Nutex's margins and profitability. Positive margin drivers include successful arbitration outcomes that increase reimbursement rates, growing patient volumes at mature hospitals, expansion of higher-margin services like inpatient and observation care, and operational efficiencies gained through technology implementation and economies of scale. The company's focus on underserved markets also reduces competitive pressure on pricing. Negative margin pressures include rising labor costs (particularly nursing and physician staffing), medical supply inflation, the significant time and resources required for the arbitration process, potential changes in healthcare regulations that could limit arbitration effectiveness, and the high fixed costs associated with operating hospital facilities. Additionally, the company faces collection risks from self-pay patients and potential changes in insurance reimbursement policies that could reduce payment rates.
Competitive moat
Nutex Health operates in a challenging competitive landscape with limited traditional moats, though it has developed some defensive characteristics through its strategic positioning and operational approach. The company's primary competitive advantage lies in its geographic positioning in underserved markets where larger hospital systems may find it uneconomical to operate. Micro-hospitals serve communities that are too small for traditional hospitals but too large for urgent care centers, creating a natural market niche. Once established in these markets, Nutex benefits from patient loyalty and physician referral patterns that create switching costs for competitors attempting to enter. The company's operational expertise in the micro-hospital model provides some competitive advantage, as this specialized format requires different operational approaches than traditional hospitals. Nutex has developed proprietary processes for site selection, facility design, staffing models, and service line optimization that would be difficult for new entrants to replicate quickly. However, Nutex's moat is relatively narrow and faces significant competitive threats. Large hospital systems with greater financial resources could enter these markets if they become sufficiently attractive, potentially offering more comprehensive services and leveraging stronger payer relationships. Ambulatory surgery centers and urgent care chains continue to expand their service offerings, potentially capturing some of Nutex's target patient population. Telehealth and remote monitoring technologies could reduce demand for certain services that micro-hospitals currently provide. Most critically, Nutex's recent profitability surge is heavily dependent on arbitration success under the No Surprises Act, which represents a regulatory arbitrage opportunity rather than a sustainable competitive moat. Changes in legislation, arbitration procedures, or insurance company behavior could significantly impact this advantage. The company's financial performance remains vulnerable to regulatory changes and the evolving healthcare reimbursement landscape.
Risks & safety
Nutex Health demonstrates a moderate margin of safety with improving financial metrics but some underlying risks. • Liquidity and Solvency: Strong current ratio of 2.27 and quick ratio of 2.26, with $87.7 million in cash providing adequate liquidity buffer. Debt-to-equity ratio of 1.14 is manageable, though total debt of approximately $40.9 million requires monitoring. • Cash Generation: Positive operating cash flow of $51 million in Q1 2025 and free cash flow of $51 million indicate strong cash generation capability, a significant improvement from previous periods. • Valuation Metrics: Extremely attractive valuation with P/E ratio of 1.36, EV/EBITDA of 1.57, and price-to-book ratio of 0.87, suggesting the stock trades at a significant discount to intrinsic value based on current earnings power. • Profitability Sustainability Risk: The dramatic improvement in profitability is heavily dependent on arbitration success under the No Surprises Act. This regulatory-dependent revenue stream creates uncertainty about long-term earnings sustainability. • Growth Investment Requirements: Planned expansion of 3 new hospitals in 2025 will require capital investment, though the company appears well-positioned financially to fund this growth. • Market Position: Operating in underserved markets provides some defensive characteristics, but limited barriers to entry from larger competitors pose long-term competitive risks.
Recent development
Over the past few years, Nutex Health has undergone a dramatic transformation driven by several key strategic initiatives and operational improvements. The most significant development has been the company's aggressive pursuit of fair reimbursement through the Independent Dispute Resolution (IDR) process under the No Surprises Act. Beginning in earnest in 2024, Nutex started submitting 60-70% of its billable visits to arbitration, achieving an impressive 80% win rate and receiving 150-250% increases in reimbursement compared to initial insurance payments. This strategy has been transformational, turning the company from significant losses in 2022-2023 to strong profitability in 2024. The company has pursued an aggressive expansion strategy, opening four new hospitals in 2024 (Green Bay, Milwaukee, Tampa, and Post Falls) and planning three additional openings in 2025. This expansion focuses on underserved markets where the micro-hospital model can effectively serve community healthcare needs. Alongside new hospital development, Nutex has focused on service line expansion at mature hospitals, adding specialists and higher-acuity services to increase inpatient and observation volumes, which generate higher margins than emergency room visits alone. Technology implementation has been another key focus area, with the company investing in AI tools for healthcare operations, new software for HR and scheduling, and labor analytics systems to optimize staffing and operational efficiency. The Population Health Management division has leveraged its cloud-based proprietary platform to better coordinate care and manage patient populations. The company has also undertaken portfolio optimization, divesting non-core population health assets that were generating losses while focusing resources on the most profitable segments. This includes streamlining operations and maintaining disciplined cost management across labor, supply chain, and contract services while exploring new service lines such as behavioral health, personal injury care, and wellness programs tailored to community needs.
NUTX company profile · for informational purposes only — not investment advice.
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