R1 RCM Inc. (NASDAQ: RCM) Is Expected To Soar To Higher Prices In The Months To Come.

In the last trading session, 2.02 million R1 RCM Inc. (NASDAQ:RCM) shares changed hands as the company’s beta touched 0.71. With the company’s per share price at $10.89 changed hands at $0.44 or 4.21% during last session, the market valuation stood at $4.57B. RCM’s last price was a discount, traded about -71.72% off its 52-week high of $18.70. The share price had its 52-week low at $8.87, which suggests the last value was 18.55% up since then. When we look at R1 RCM Inc.’s average trading volume, we note the 10-day average is 2.74 million shares, with the 3-month average coming to 0.52.

R1 RCM Inc. (NASDAQ:RCM) trade information

Instantly RCM was in green as seen at the end of in last trading. With action 3.62%, the performance over the past five days has been green. The jump to weekly highs of 10.90 added 4.21% to the stock’s daily price. The company’s shares are showing year-to-date upside of 3.03%, with the 5-day performance at 3.62% in the green. However, in the 30-day time frame, R1 RCM Inc. (NASDAQ:RCM) is 19.54% up. Looking at the short shares, we see there were 27.5 million shares sold at short interest cover period of 6.97 days.

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R1 RCM Inc. (RCM) estimates and forecasts

Data shows that the R1 RCM Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -34.99% over the past 6 months, a 112.50% in annual growth rate that is considerably higher than the industry average of 8.60%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for R1 RCM Inc. will rise 122.20%. Year-over-year growth is forecast to reach 25.10% up from the last financial year.

Consensus estimates given by 13 financial analysts project the company’s revenue in the current quarter to hit an average of $578.69 million. 9 analysts are of the opinion that R1 RCM Inc.’s revenue for the quarter ending Mar 2024 will be $610.41 million. The company’s revenue for the corresponding quarters a year ago was $532.8 million and $545.6 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 8.60%. The estimates for the next quarter sales put growth at 11.90%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 24.86%. The 2024 estimates are for R1 RCM Inc. earnings to increase by 240.13%, but the outlook for the next 5-year period is at -2.50% per year.

RCM Dividends

R1 RCM Inc. is expected to release its next quarterly earnings report between February 14 and February 19.

R1 RCM Inc. (NASDAQ:RCM)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 1.06% of R1 RCM Inc. shares while 104.71% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 105.84%. There are 104.71% institutions holding the R1 RCM Inc. stock share, with New Mountain Capital, L.L.C. the top institutional holder. As of Sep 29, 2023, the company held 22.52% of the shares, roughly 94.41 million RCM shares worth $1.03 billion.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 4.28% or 17.94 million shares worth $195.38 million as of Sep 29, 2023.

Among Mutual Funds, the top two as of Dec 30, 2023 were iShares Core S&P Midcap ETF and Vanguard Total Stock Market Index Fund. With 5.98 million shares estimated at $65.08 million under it, the former controlled 1.43% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 1.41% of the shares, roughly 5.93 million shares worth around $64.56 million.

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