R1 RCM (NASDAQ:RCM) Posts Earnings Results

R1 RCM (NASDAQ:RCM) released its quarterly earnings results on Wednesday. The healthcare provider reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03), Briefing.com reports. R1 RCM had a net margin of 0.15% and a return on equity of 0.12%. The company had revenue of $603.90 million during the quarter, compared to the consensus estimate of $612.88 million. The company’s revenue was up 10.7% on a year-over-year basis. R1 RCM updated its FY 2024 guidance to EPS.

R1 RCM Stock Down 5.8 %

Shares of RCM traded down $0.75 during mid-day trading on Thursday, hitting $12.09. 3,759,186 shares of the company traded hands, compared to its average volume of 3,460,317. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.57. The stock has a 50-day moving average price of $12.88 and a two-hundred day moving average price of $11.46. R1 RCM has a 1 year low of $8.87 and a 1 year high of $18.70.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RCM. Guggenheim decreased their price objective on R1 RCM from $17.00 to $15.00 and set a “buy” rating for the company in a report on Friday, April 5th. SVB Leerink began coverage on R1 RCM in a research note on Monday, February 26th. They set an “outperform” rating and a $14.00 target price on the stock. KeyCorp restated a “sector weight” rating on shares of R1 RCM in a research report on Wednesday, April 10th. Leerink Partnrs reaffirmed an “outperform” rating on shares of R1 RCM in a research report on Monday, February 26th. Finally, Evercore ISI reissued an “in-line” rating and set a $16.00 target price (up from $12.00) on shares of R1 RCM in a research report on Wednesday, February 28th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.79.

Insider Activity at R1 RCM

In related news, President John M. Sparby sold 10,046 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $14.33, for a total transaction of $143,959.18. Following the completion of the sale, the president now directly owns 265,986 shares in the company, valued at $3,811,579.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 36.80% of the stock is currently owned by company insiders.

About R1 RCM

R1 RCM Inc provides technology-driven solutions for the financial performance and patient experience of health systems, hospitals, and physician groups. It provides operating partnership/end-to-end solutions, which manages multiple aspects of the revenue cycle to realize financial leverage and revenue improvement for hospital and physician customers.