R1 RCM (NASDAQ:RCM) released its quarterly earnings results on Wednesday. The financial services provider reported ($0.17) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.12), Morningstar.com reports. R1 RCM had a negative net margin of 11.31% and a negative return on equity of 52.71%. The firm had revenue of $250.40 million during the quarter, compared to the consensus estimate of $240.09 million. During the same period in the prior year, the business earned ($0.08) EPS. The company’s revenue for the quarter was up 103.2% compared to the same quarter last year. R1 RCM updated its FY 2018 guidance to EPS.
Shares of R1 RCM stock traded up $1.46 during midday trading on Wednesday, hitting $9.23. The company had a trading volume of 2,543,004 shares, compared to its average volume of 625,667. The company has a market cap of $920.55 million, a price-to-earnings ratio of -20.98 and a beta of -0.32. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 15.78. R1 RCM has a 1-year low of $3.56 and a 1-year high of $11.00.
RCM has been the topic of a number of recent analyst reports. TheStreet raised shares of R1 RCM from a “d+” rating to a “c” rating in a research report on Tuesday, September 4th. Zacks Investment Research downgraded shares of R1 RCM from a “hold” rating to a “sell” rating in a research note on Tuesday, August 21st. Chardan Capital assumed coverage on shares of R1 RCM in a research note on Tuesday, September 4th. They issued a “buy” rating and a $17.00 price objective on the stock. Cantor Fitzgerald raised their price objective on shares of R1 RCM from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, August 10th. Finally, BidaskClub upgraded shares of R1 RCM from a “hold” rating to a “buy” rating in a research note on Thursday, August 30th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. R1 RCM presently has a consensus rating of “Buy” and an average target price of $11.05.
In related news, Director Albert Rene Zimmerli acquired 10,000 shares of the stock in a transaction dated Thursday, September 6th. The shares were acquired at an average price of $9.73 per share, for a total transaction of $97,300.00. Following the completion of the purchase, the director now owns 10,000 shares in the company, valued at approximately $97,300. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 59.40% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its stake in R1 RCM by 24.2% during the second quarter. BlackRock Inc. now owns 6,857,083 shares of the financial services provider’s stock worth $59,520,000 after buying an additional 1,336,515 shares in the last quarter. Renaissance Technologies LLC boosted its stake in R1 RCM by 194.4% during the second quarter. Renaissance Technologies LLC now owns 1,904,500 shares of the financial services provider’s stock worth $16,531,000 after buying an additional 1,257,600 shares in the last quarter. Penn Capital Management Co. Inc. acquired a new stake in R1 RCM during the second quarter worth $10,367,000. Northern Trust Corp boosted its stake in R1 RCM by 8.2% during the second quarter. Northern Trust Corp now owns 1,181,569 shares of the financial services provider’s stock worth $10,256,000 after buying an additional 89,116 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in R1 RCM by 383.0% during the second quarter. Millennium Management LLC now owns 1,144,826 shares of the financial services provider’s stock worth $9,937,000 after buying an additional 907,790 shares in the last quarter. Hedge funds and other institutional investors own 49.80% of the company’s stock.
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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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