R1 RCM (NASDAQ:RCM) Announces Earnings Results

R1 RCM (NASDAQ:RCM) posted its 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. The company had revenue of $603.90 million during the quarter, compared to analyst estimates of $612.88 million. R1 RCM had a net margin of 0.15% and a return on equity of 0.12%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. R1 RCM updated its FY 2024 guidance to EPS.

R1 RCM Stock Down 4.4 %

Shares of R1 RCM stock traded down $0.57 during mid-day trading on Thursday, reaching $12.27. 8,955,608 shares of the stock were exchanged, compared to its average volume of 3,533,999. The firm has a 50-day simple moving average of $12.88 and a 200 day simple moving average of $11.46. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.57. R1 RCM has a fifty-two week low of $8.87 and a fifty-two week high of $18.70.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RCM. Evercore ISI restated an “in-line” rating and set a $16.00 target price (up from $12.00) on shares of R1 RCM in a research note on Wednesday, February 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $20.00 price target on shares of R1 RCM in a report on Wednesday, April 10th. Barclays restated an “equal weight” rating and issued a $14.00 price target on shares of R1 RCM in a report on Wednesday, February 28th. Truist Financial restated a “hold” rating and set a $16.00 price objective on shares of R1 RCM in a research report on Monday, April 1st. Finally, Morgan Stanley reissued an “overweight” rating and issued a $17.00 price objective on shares of R1 RCM in a research report on Tuesday, March 26th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $16.71.

Insider Buying and Selling

In other news, President John M. Sparby sold 10,046 shares of R1 RCM stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $14.33, for a total value of $143,959.18. Following the completion of the sale, the president now directly owns 265,986 shares of the company’s stock, valued at approximately $3,811,579.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 36.80% of the stock is owned by corporate 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.