R1 RCM Inc. (NASDAQ:RCM) to Post Q3 2024 Earnings of ($0.08) Per Share, Leerink Partnrs Forecasts

R1 RCM Inc. (NASDAQ:RCM) – Stock analysts at Leerink Partnrs reduced their Q3 2024 EPS estimates for shares of R1 RCM in a research note issued on Thursday, August 8th. Leerink Partnrs analyst M. Cherny now expects that the healthcare provider will earn ($0.08) per share for the quarter, down from their previous forecast of ($0.03). Leerink Partnrs has a “Hold” rating on the stock. The consensus estimate for R1 RCM’s current full-year earnings is ($0.20) per share. Leerink Partnrs also issued estimates for R1 RCM’s Q4 2024 earnings at ($0.05) EPS and FY2024 earnings at ($0.23) EPS.

R1 RCM (NASDAQ:RCM) last released its earnings results on Wednesday, August 7th. The healthcare provider reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. The company had revenue of $627.90 million during the quarter, compared to the consensus estimate of $633.10 million. R1 RCM had a negative return on equity of 1.16% and a negative net margin of 1.39%. The business’s revenue was up 12.0% on a year-over-year basis.

A number of other equities research analysts also recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $19.00 price objective on shares of R1 RCM in a report on Friday, June 28th. SVB Leerink cut R1 RCM from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $17.00 to $14.30 in a research note on Thursday, August 1st. Morgan Stanley lowered shares of R1 RCM from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 8th. Truist Financial lowered their target price on shares of R1 RCM from $16.00 to $14.30 and set a “hold” rating for the company in a research note on Thursday, August 8th. Finally, TD Cowen reiterated a “hold” rating and issued a $14.30 target price (down from $20.00) on shares of R1 RCM in a report on Monday, August 5th. Thirteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $15.79.

R1 RCM Stock Up 0.2 %

Shares of NASDAQ RCM opened at $13.98 on Monday. R1 RCM has a 1 year low of $8.87 and a 1 year high of $18.22. The firm’s 50-day moving average is $12.82 and its 200-day moving average is $12.52. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $5.89 billion, a PE ratio of -174.75 and a beta of 0.85.

Institutional Trading of R1 RCM

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. bought a new position in R1 RCM in the first quarter valued at $27,000. Van ECK Associates Corp raised its holdings in R1 RCM by 20.5% during the fourth quarter. Van ECK Associates Corp now owns 6,141 shares of the healthcare provider’s stock worth $65,000 after acquiring an additional 1,044 shares in the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in R1 RCM during the second quarter valued at approximately $86,000. QRG Capital Management Inc. acquired a new position in R1 RCM during the first quarter valued at approximately $132,000. Finally, Caas Capital Management LP bought a new position in R1 RCM in the fourth quarter valued at approximately $148,000. 61.10% of the stock is currently owned by institutional investors and hedge funds.

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.