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. R1 RCM had a return on equity of 0.12% and a net margin of 0.15%. The firm had revenue of $603.90 million for the quarter, compared to analysts’ expectations of $612.88 million. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. R1 RCM updated its FY 2024 guidance to EPS.

R1 RCM Stock Down 5.8 %

NASDAQ:RCM traded down $0.75 during trading hours on Thursday, reaching $12.09. 3,759,186 shares of the company’s stock were exchanged, compared to its average volume of 3,460,317. R1 RCM has a 12 month low of $8.87 and a 12 month high of $18.70. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.57. The business’s 50-day simple moving average is $12.88 and its two-hundred day simple moving average is $11.46.

Insider Buying and Selling

In related news, President John M. Sparby sold 10,046 shares of the firm’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 transaction of $143,959.18. Following the completion of the sale, the president now directly owns 265,986 shares in the company, valued at $3,811,579.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 36.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on RCM shares. Leerink Partnrs reiterated an “outperform” rating on shares of R1 RCM in a report on Monday, February 26th. KeyCorp reiterated a “sector weight” rating on shares of R1 RCM in a research note on Wednesday, April 10th. Barclays reiterated an “equal weight” rating and set a $14.00 target price on shares of R1 RCM in a research note on Wednesday, February 28th. Evercore ISI reiterated an “in-line” rating and set a $16.00 price objective (up previously from $12.00) on shares of R1 RCM in a research note on Wednesday, February 28th. Finally, Guggenheim dropped their price target on shares of R1 RCM from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $16.79.

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.