R1 RCM (NASDAQ:RCM) announced its quarterly earnings data on Thursday, May 9th. The financial services provider reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01, Briefing.com reports. R1 RCM had a negative net margin of 2.19% and a negative return on equity of 118.28%. The business had revenue of $275.90 million during the quarter, compared to analyst estimates of $266.37 million. During the same period last year, the firm posted ($0.26) EPS. The company’s revenue was up 87.3% on a year-over-year basis. R1 RCM updated its FY 2019 guidance to EPS.
RCM traded up $0.09 during trading on Friday, reaching $11.46. The company had a trading volume of 887,690 shares, compared to its average volume of 983,608. The company has a market cap of $1.27 billion, a PE ratio of -35.81 and a beta of 0.14. R1 RCM has a 52 week low of $7.10 and a 52 week high of $12.48. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 118.26.
A number of institutional investors and hedge funds have recently modified their holdings of RCM. Bank of New York Mellon Corp increased its holdings in shares of R1 RCM by 2.9% in the third quarter. Bank of New York Mellon Corp now owns 401,937 shares of the financial services provider’s stock valued at $4,084,000 after purchasing an additional 11,490 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of R1 RCM by 2.3% in the third quarter. Dimensional Fund Advisors LP now owns 884,190 shares of the financial services provider’s stock valued at $8,983,000 after purchasing an additional 20,281 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of R1 RCM by 244.0% in the third quarter. JPMorgan Chase & Co. now owns 207,326 shares of the financial services provider’s stock valued at $2,106,000 after purchasing an additional 147,053 shares in the last quarter. MetLife Investment Advisors LLC increased its holdings in shares of R1 RCM by 57.5% in the third quarter. MetLife Investment Advisors LLC now owns 74,057 shares of the financial services provider’s stock valued at $752,000 after purchasing an additional 27,031 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of R1 RCM by 15.5% in the third quarter. AQR Capital Management LLC now owns 76,482 shares of the financial services provider’s stock valued at $777,000 after purchasing an additional 10,286 shares in the last quarter. Institutional investors own 66.16% of the company’s stock.A number of research firms recently weighed in on RCM. BidaskClub lowered shares of R1 RCM from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 18th. Zacks Investment Research lowered shares of R1 RCM from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. Finally, Cantor Fitzgerald raised their target price on shares of R1 RCM from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Friday, April 12th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $14.20.
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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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