R1 RCM Inc (NASDAQ:RCM) Expected to Announce Quarterly Sales of $303.95 Million

Wall Street analysts predict that R1 RCM Inc (NASDAQ:RCM) will announce $303.95 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for R1 RCM’s earnings. The highest sales estimate is $306.90 million and the lowest is $301.00 million. R1 RCM reported sales of $250.40 million in the same quarter last year, which indicates a positive year over year growth rate of 21.4%. The business is scheduled to issue its next quarterly earnings report before the market opens on Wednesday, November 6th.

According to Zacks, analysts expect that R1 RCM will report full year sales of $1.19 billion for the current financial year, with estimates ranging from $1.18 billion to $1.20 billion. For the next year, analysts expect that the business will report sales of $1.35 billion, with estimates ranging from $1.29 billion to $1.40 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover R1 RCM.

R1 RCM (NASDAQ:RCM) last posted its quarterly earnings results on Tuesday, August 6th. The healthcare provider reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.08). R1 RCM had a negative return on equity of 249.01% and a negative net margin of 2.22%. The firm had revenue of $295.00 million during the quarter, compared to the consensus estimate of $294.11 million. During the same quarter in the previous year, the company earned ($0.07) earnings per share. The business’s revenue for the quarter was up 41.9% compared to the same quarter last year.

A number of equities analysts recently weighed in on the stock. ValuEngine lowered shares of R1 RCM from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research upgraded shares of R1 RCM from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Wednesday, October 9th. BidaskClub lowered shares of R1 RCM from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 1st. Finally, Robert W. Baird set a $14.00 target price on shares of R1 RCM and gave the stock a “buy” rating in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. R1 RCM currently has an average rating of “Buy” and an average target price of $13.40.

A number of institutional investors have recently added to or reduced their stakes in RCM. Bank of New York Mellon Corp raised its stake in R1 RCM by 414.7% during the second quarter. Bank of New York Mellon Corp now owns 2,116,648 shares of the healthcare provider’s stock valued at $26,627,000 after purchasing an additional 1,705,447 shares in the last quarter. Citadel Advisors LLC raised its stake in shares of R1 RCM by 1,112.7% in the second quarter. Citadel Advisors LLC now owns 724,997 shares of the healthcare provider’s stock valued at $9,120,000 after acquiring an additional 665,215 shares during the period. SG Americas Securities LLC raised its stake in shares of R1 RCM by 4,379.7% in the second quarter. SG Americas Securities LLC now owns 656,772 shares of the healthcare provider’s stock valued at $8,262,000 after acquiring an additional 642,111 shares during the period. Nuveen Asset Management LLC purchased a new stake in shares of R1 RCM in the second quarter valued at $7,505,000. Finally, RK Capital Management LLC purchased a new stake in shares of R1 RCM in the second quarter valued at $5,712,000. 70.84% of the stock is currently owned by institutional investors.

Shares of NASDAQ:RCM traded up $0.16 during midday trading on Friday, reaching $10.07. 1,952,904 shares of the company were exchanged, compared to its average volume of 1,186,729. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 106.30. The business’s fifty day moving average is $10.15 and its two-hundred day moving average is $11.37. R1 RCM has a one year low of $7.10 and a one year high of $13.19. The stock has a market cap of $1.11 billion, a PE ratio of -31.47 and a beta of 0.10.

About R1 RCM

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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