1Life Healthcare (NASDAQ:ONEM) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

1Life Healthcare (NASDAQ:ONEM – Get Rating) released its earnings results on Wednesday. The company reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.02, MarketWatch Earnings reports. The company had revenue of $254.10 million for the quarter, compared to the consensus estimate of $246.57 million. 1Life Healthcare had a negative return on equity of 22.78% and a negative net margin of 40.85%. 1Life Healthcare’s quarterly revenue was up 109.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.29) earnings per share.

ONEM stock opened at $8.15 on Friday. The company has a quick ratio of 3.00, a current ratio of 3.03 and a debt-to-equity ratio of 0.18. 1Life Healthcare has a twelve month low of $6.93 and a twelve month high of $42.97. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of -4.58 and a beta of 1.87. The firm’s fifty day simple moving average is $9.75 and its two-hundred day simple moving average is $13.84.

A number of hedge funds have recently bought and sold shares of ONEM. Morgan Stanley increased its position in 1Life Healthcare by 27.5% during the second quarter. Morgan Stanley now owns 1,158,115 shares of the company’s stock valued at $38,287,000 after acquiring an additional 250,082 shares during the last quarter. Royal Bank of Canada increased its position in 1Life Healthcare by 23.8% during the third quarter. Royal Bank of Canada now owns 32,302 shares of the company’s stock valued at $654,000 after acquiring an additional 6,218 shares during the last quarter. UBS Group AG increased its position in 1Life Healthcare by 37.9% during the third quarter. UBS Group AG now owns 42,987 shares of the company’s stock valued at $870,000 after acquiring an additional 11,818 shares during the last quarter. Dimensional Fund Advisors LP bought a new position in 1Life Healthcare during the fourth quarter valued at $576,000. Finally, Citigroup Inc. increased its position in 1Life Healthcare by 100.1% during the fourth quarter. Citigroup Inc. now owns 34,063 shares of the company’s stock valued at $598,000 after acquiring an additional 17,040 shares during the last quarter. Institutional investors and hedge funds own 85.50% of the company’s stock.

ONEM has been the subject of several analyst reports. SVB Leerink reduced their target price on shares of 1Life Healthcare from $24.00 to $10.00 and set a “market perform” rating for the company in a report on Thursday, February 24th. Truist Financial dropped their price target on shares of 1Life Healthcare from $24.00 to $12.00 in a research report on Thursday, February 24th. William Blair reiterated an “outperform” rating on shares of 1Life Healthcare in a research report on Thursday, March 10th. Zacks Investment Research upgraded shares of 1Life Healthcare from a “hold” rating to a “buy” rating and set a $8.50 price target for the company in a research report on Wednesday. Finally, Guggenheim initiated coverage on shares of 1Life Healthcare in a research report on Tuesday, March 29th. They issued a “neutral” rating for the company. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $21.97.

About 1Life Healthcare (Get Rating)

1Life Healthcare, Inc operates a membership-based primary care platform under the One Medical brand. The company has developed a healthcare membership model based on direct consumer enrollment, as well as third-party sponsorship. Its membership model includes seamless access to 24/7 digital health services paired with inviting in-office care routinely covered under health insurance programs.

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