Analysts Offer Predictions for R1 RCM Inc.’s Q2 2024 Earnings (NASDAQ:RCM)

R1 RCM Inc. (NASDAQ:RCMFree Report) – Research analysts at Leerink Partnrs raised their Q2 2024 EPS estimates for shares of R1 RCM in a research note issued to investors on Wednesday, May 8th. Leerink Partnrs analyst M. Cherny now anticipates that the healthcare provider will post earnings per share of $0.00 for the quarter, up from their prior estimate of ($0.01). Leerink Partnrs has a “Outperform” rating on the stock. The consensus estimate for R1 RCM’s current full-year earnings is ($0.12) per share. Leerink Partnrs also issued estimates for R1 RCM’s Q3 2024 earnings at ($0.02) EPS, Q4 2024 earnings at $0.04 EPS, FY2024 earnings at ($0.06) EPS, FY2026 earnings at $0.44 EPS, FY2027 earnings at $0.62 EPS and FY2028 earnings at $0.87 EPS.

R1 RCM (NASDAQ:RCMGet Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The healthcare provider reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.03). The firm had revenue of $603.90 million for the quarter, compared to the consensus estimate of $612.88 million. R1 RCM had a negative net margin of 1.39% and a negative return on equity of 1.16%. R1 RCM’s quarterly revenue was up 10.7% compared to the same quarter last year.

Several other equities research analysts also recently commented on the company. Morgan Stanley reiterated an “overweight” rating and issued a $17.00 price objective on shares of R1 RCM in a report on Tuesday, March 26th. Cantor Fitzgerald restated an “overweight” rating and issued a $20.00 target price on shares of R1 RCM in a report on Wednesday, April 10th. Evercore ISI reiterated 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. Guggenheim dropped their price target on R1 RCM from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Finally, KeyCorp reiterated a “sector weight” rating on shares of R1 RCM in a research report on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.71.

Get Our Latest Analysis on RCM

R1 RCM Stock Down 1.5 %

R1 RCM stock opened at $12.08 on Monday. The firm has a market cap of $5.09 billion, a price-to-earnings ratio of -151.00 and a beta of 0.78. The company has a current ratio of 1.79, a quick ratio of 1.83 and a debt-to-equity ratio of 0.78. R1 RCM has a 12 month low of $8.87 and a 12 month high of $18.70. The stock has a fifty day simple moving average of $12.81 and a two-hundred day simple moving average of $11.46.

Insider Buying and Selling

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

Institutional Trading of R1 RCM

Hedge funds have recently bought and sold shares of the stock. New York State Teachers Retirement System grew its holdings in shares of R1 RCM by 4.5% in the third quarter. New York State Teachers Retirement System now owns 136,621 shares of the healthcare provider’s stock valued at $2,059,000 after purchasing an additional 5,900 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of R1 RCM by 15.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,415 shares of the healthcare provider’s stock valued at $413,000 after buying an additional 3,591 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of R1 RCM by 38.7% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 55,239 shares of the healthcare provider’s stock valued at $832,000 after acquiring an additional 15,400 shares during the last quarter. State of Michigan Retirement System grew its position in R1 RCM by 38.5% in the third quarter. State of Michigan Retirement System now owns 47,101 shares of the healthcare provider’s stock worth $710,000 after acquiring an additional 13,100 shares in the last quarter. Finally, Securian Asset Management Inc. increased its stake in R1 RCM by 35.7% during the third quarter. Securian Asset Management Inc. now owns 16,678 shares of the healthcare provider’s stock worth $251,000 after acquiring an additional 4,384 shares during the last quarter. Hedge funds and other institutional investors own 61.10% of the company’s stock.

About R1 RCM

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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.

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