Equities Analysts Set Expectations for R1 RCM Inc.’s Q1 2024 Earnings (NASDAQ:RCM)

R1 RCM Inc. (NASDAQ:RCM) – Stock analysts at Leerink Partnrs lowered their Q1 2024 earnings per share estimates for shares of R1 RCM in a research note issued to investors on Monday, April 29th. Leerink Partnrs analyst M. Cherny now forecasts that the healthcare provider will post earnings of $0.02 per share for the quarter, down from their prior forecast of $0.03. Leerink Partnrs has a “Outperform” rating on the stock. The consensus estimate for R1 RCM’s current full-year earnings is ($0.05) per share. Leerink Partnrs also issued estimates for R1 RCM’s Q4 2024 earnings at $0.05 EPS and FY2026 earnings at $0.42 EPS.

Several other equities analysts have also commented on the company. Truist Financial reissued a “hold” rating and set a $16.00 price objective on shares of R1 RCM in a research report on Monday, April 1st. Evercore ISI reissued an “in-line” rating and set a $16.00 price target (up from $12.00) on shares of R1 RCM in a research report on Wednesday, February 28th. KeyCorp restated a “sector weight” rating on shares of R1 RCM in a report on Wednesday, April 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $19.00 target price on shares of R1 RCM in a research note on Thursday, March 7th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $17.00 price target on shares of R1 RCM in a research report on Tuesday, March 26th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.87.

R1 RCM Price Performance

Shares of RCM opened at $12.47 on Thursday. The company has a 50-day simple moving average of $12.95 and a two-hundred day simple moving average of $11.43. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.83 and a current ratio of 1.83. R1 RCM has a one year low of $8.87 and a one year high of $18.70.

Hedge Funds Weigh In On R1 RCM

Hedge funds and other institutional investors have recently modified their holdings of the stock. Voss Capital LLC boosted its position in shares of R1 RCM by 553.9% during the 4th quarter. Voss Capital LLC now owns 7,125,000 shares of the healthcare provider’s stock valued at $75,311,000 after acquiring an additional 6,035,340 shares during the last quarter. Norges Bank purchased a new stake in R1 RCM during the fourth quarter valued at approximately $42,539,000. P2 Capital Partners LLC boosted its holdings in shares of R1 RCM by 70,366.3% in the 4th quarter. P2 Capital Partners LLC now owns 3,535,294 shares of the healthcare provider’s stock worth $37,368,000 after purchasing an additional 3,530,277 shares during the period. Sea Cliff Partners Management LP bought a new position in shares of R1 RCM during the 4th quarter valued at approximately $18,459,000. Finally, Dimensional Fund Advisors LP raised its holdings in R1 RCM by 81.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,826,545 shares of the healthcare provider’s stock valued at $29,879,000 after buying an additional 1,269,837 shares during the period. Institutional investors own 61.10% of the company’s stock.

Insider Transactions at R1 RCM

In other R1 RCM news, President John M. Sparby sold 10,046 shares of the company’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 value of $143,959.18. Following the completion of the transaction, the president now directly owns 265,986 shares in the company, valued at $3,811,579.38. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 36.80% of the company’s stock.

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.