Wall Street brokerages forecast that R1 RCM Inc (NASDAQ:RCM) will report $294.20 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for R1 RCM’s earnings, with the highest sales estimate coming in at $295.00 million and the lowest estimate coming in at $292.90 million. R1 RCM reported sales of $301.20 million during the same quarter last year, which would suggest a negative year over year growth rate of 2.3%. The company is expected to announce its next quarterly earnings results on Tuesday, November 3rd.
On average, analysts expect that R1 RCM will report full-year sales of $1.25 billion for the current fiscal year, with estimates ranging from $1.24 billion to $1.25 billion. For the next year, analysts expect that the business will post sales of $1.46 billion, with estimates ranging from $1.38 billion to $1.55 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow R1 RCM.
R1 RCM (NASDAQ:RCM) last issued its earnings results on Tuesday, August 4th. The healthcare provider reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.04). R1 RCM had a net margin of 4.02% and a return on equity of 182.08%. The firm had revenue of $314.70 million during the quarter, compared to the consensus estimate of $304.94 million. During the same period in the previous year, the company posted ($0.09) EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis.
Several brokerages have recently issued reports on RCM. KeyCorp increased their price objective on shares of R1 RCM from $12.00 to $15.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. BidaskClub downgraded shares of R1 RCM from a “buy” rating to a “hold” rating in a research report on Wednesday, August 26th. Zacks Investment Research downgraded shares of R1 RCM from a “hold” rating to a “sell” rating in a research report on Friday, July 31st. ValuEngine downgraded shares of R1 RCM from a “buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Finally, SVB Leerink raised shares of R1 RCM from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $14.00 to $18.00 in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $14.67.
In related news, Director Michael C. Feiner sold 71,325 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $15.53, for a total transaction of $1,107,677.25. Following the completion of the transaction, the director now owns 95,444 shares in the company, valued at $1,482,245.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 60.50% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Copper Rock Capital Partners LLC increased its holdings in R1 RCM by 4,835.5% in the 2nd quarter. Copper Rock Capital Partners LLC now owns 58,893,555 shares of the healthcare provider’s stock valued at $251,893,000 after buying an additional 57,700,296 shares during the period. Sunriver Management LLC increased its holdings in R1 RCM by 47.9% in the 1st quarter. Sunriver Management LLC now owns 3,348,550 shares of the healthcare provider’s stock valued at $30,438,000 after buying an additional 1,085,100 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of R1 RCM by 66.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,951,072 shares of the healthcare provider’s stock valued at $21,754,000 after purchasing an additional 780,615 shares in the last quarter. Marshall Wace North America L.P. boosted its stake in shares of R1 RCM by 1,547.4% in the 2nd quarter. Marshall Wace North America L.P. now owns 725,634 shares of the healthcare provider’s stock valued at $8,090,000 after purchasing an additional 681,588 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of R1 RCM by 160.3% in the 2nd quarter. Marshall Wace LLP now owns 1,023,065 shares of the healthcare provider’s stock valued at $11,407,000 after purchasing an additional 630,021 shares in the last quarter.
Shares of RCM stock opened at $17.01 on Thursday. The firm has a fifty day moving average of $14.91 and a 200-day moving average of $11.79. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 13.74. R1 RCM has a 12-month low of $7.12 and a 12-month high of $17.44. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 170.12, a P/E/G ratio of 9.06 and a beta of 0.69.
R1 RCM Company Profile
R1 RCM Inc provides revenue cycle management (RCM) for healthcare providers in the United States. It offers end-to-end RCM services to manage their revenue cycle operations, which encompass patient registration, insurance and benefit verification, medical treatment documentation and coding, and bill preparation and collection from patients and payers.
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