Wall Street brokerages forecast that R1 RCM Inc (NASDAQ:RCM) will report $315.75 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for R1 RCM’s earnings, with the lowest sales estimate coming in at $310.70 million and the highest estimate coming in at $320.80 million. R1 RCM reported sales of $262.90 million in the same quarter last year, which indicates a positive year-over-year growth rate of 20.1%. The business is expected to issue its next earnings report on Friday, February 28th.
According to Zacks, analysts expect that R1 RCM will report full year sales of $1.19 billion for the current fiscal year, with estimates ranging from $1.18 billion to $1.19 billion. For the next year, analysts forecast that the firm will post sales of $1.36 billion, with estimates ranging from $1.33 billion to $1.39 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover R1 RCM.
R1 RCM (NASDAQ:RCM) last announced its quarterly earnings data on Tuesday, November 5th. The healthcare provider reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.08). The firm had revenue of $301.20 million during the quarter, compared to analysts’ expectations of $302.85 million. R1 RCM had a positive return on equity of 100.31% and a negative net margin of 0.13%. The company’s revenue was up 20.3% compared to the same quarter last year. During the same period last year, the business posted ($0.17) EPS.
Several research firms have recently issued reports on RCM. Zacks Investment Research lowered shares of R1 RCM from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 27th. BidaskClub cut shares of R1 RCM from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 17th. ValuEngine raised shares of R1 RCM from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, Robert W. Baird set a $14.00 price objective on shares of R1 RCM and gave the company a “buy” rating in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $11.75.
A number of hedge funds and other institutional investors have recently modified their holdings of RCM. Los Angeles Capital Management & Equity Research Inc. bought a new position in R1 RCM in the 2nd quarter valued at $139,000. Aperio Group LLC purchased a new stake in shares of R1 RCM in the second quarter worth $127,000. Swiss National Bank raised its position in shares of R1 RCM by 2.1% in the second quarter. Swiss National Bank now owns 164,100 shares of the healthcare provider’s stock worth $2,064,000 after buying an additional 3,400 shares in the last quarter. Insight Wealth Strategies LLC boosted its stake in R1 RCM by 4.7% during the second quarter. Insight Wealth Strategies LLC now owns 185,928 shares of the healthcare provider’s stock valued at $2,339,000 after buying an additional 8,357 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in R1 RCM by 149.3% during the second quarter. JPMorgan Chase & Co. now owns 294,343 shares of the healthcare provider’s stock valued at $3,582,000 after buying an additional 176,271 shares during the period. Institutional investors and hedge funds own 70.60% of the company’s stock.
NASDAQ:RCM traded up $0.21 on Thursday, reaching $12.66. 453,808 shares of the company’s stock were exchanged, compared to its average volume of 1,016,736. The company has a debt-to-equity ratio of 29.28, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -39.56 and a beta of 0.18. R1 RCM has a 52 week low of $7.10 and a 52 week high of $13.19. The stock has a fifty day simple moving average of $12.37 and a 200-day simple moving average of $11.65.
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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