NRC combines excellent profitability and cash-conversion metrics with having already reached its analyst price target and a negative modeled risk/reward setup, while an overbought technical condition and two large recent earnings misses add further uncertainty.
Thesis pillars
- Excellent Quality Metrics↓Deteriorating
- Analyst Target Reached Negative Asymmetry↓Deteriorating
- Overbought Technical Condition↑Improving
- +1 more pillar — see the Why tab for full reasoning
NRC Health (NRC) Stock Analysis
Breakout setup
Healthcare · Health Information Services
Sell if holding. At $21.31, A.R:R 0.2:1 is below the 1.5:1 minimum. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Thin upside margin: 3.7%; Concentration risk — Customer: healthcare industry customers.
NRC Health, formerly National Research Corporation, provides subscription-based patient experience, consumer experience, employee experience and market research analytics solutions to U.S. healthcare organizations, serving over 250 of the top 400 health systems by net patient... Read more
Sell if holding. At $21.31, A.R:R 0.2:1 is below the 1.5:1 minimum. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Thin upside margin: 3.7%; Concentration risk — Customer: healthcare industry customers. Chart setup: Golden cross, above all MAs, RSI 51, MACD bullish. Score 5.5/10, moderate confidence.
Passes 5/8 gates (positive momentum, clean insider activity, earnings proximity 74d clear, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio and news soft leadership change. Suitability: aggressive.
About NRC Health
About NRC Health
NRC Health's ten largest customers collectively accounted for 20 percent of the company's total revenue in 2025, up from 17 percent in 2024 and 15 percent in 2023, as the roughly 45-year-old healthcare analytics provider serves more than 250 of the top 400 U.S. health systems ranked by net patient revenue. Headquartered in Lincoln, Nebraska, the company markets subscription-based Patient Experience, Consumer Experience, Employee Experience and Market Experience solutions.
NRC Health generates the majority of its revenue from renewals of subscription-based service agreements, supplemented by cross-selling additional solutions to existing customers and adding new customers, with Market Insights, its syndicated survey product, measuring roughly 300,000 healthcare consumers annually. The company competes primarily against Press Ganey and Qualtrics, both of which it believes have significantly higher annual revenue, along with healthcare organizations' internal marketing and quality-improvement departments and general market research firms. NRC Health has also grown through acquisitions, completing eight since 2001, and recently overhauled its senior leadership team, appointing Trent Green as CEO in June 2025, Shane Harrison as CFO in September 2025, and Helen Hrdy as COO in October 2024.
Show full overview
Substantially all of NRC Health's revenue is derived from customers in the healthcare industry, meaning changes in Medicare and Medicaid reimbursement policy, healthcare consolidation, or reductions in provider operating budgets flow directly into the company's results rather than being diversified away by other end markets. The 10-K also notes that health spending reached approximately $5.3 trillion, or 18 percent of U.S. GDP, in 2024, underscoring both the scale of the addressable market and NRC Health's exposure to federal and state cost-containment measures currently under consideration in Congress.
See also: Healthcare · Health Information Services
From NRC Health's most recent 10-K filing, extracted July 6, 2026.
Recent developments
updated 2026-08-14Recent Developments — NRC Health
Latest news
- NEWS NRC Health (NRC) Stock Sinks As Margin Compression Deepens Earnings Pain - simplywall.st — simplywall.st negative
- NEWS Citizens raises NRC Health stock price target on strong results - Investing.com — Investing.com positive
- NEWS NRC shares Duane Arnold restart progress at public hearing - American Nuclear Society -- ANS — American Nuclear Society -- ANS positive
- NEWS Is NRC Health (NRC) Struggling with Profitability After Q2 Earni - GuruFocus — GuruFocus negative
- NEWS NRC Health reports results for the quarter ended June 30 - Earnings Summary - TradingView — TradingView neutral
Generated 2026-08-14T11:47:20Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- LOWCustomerten largest customers20%10-K Item 1A: 'Our ten largest customers collectively accounted for 20%, 17%, and 15% of our total revenue in 2025, 2024, and 2023, respectively.'
- HIGHCustomerhealthcare industry customers10-K Item 1A: 'Substantially all of our revenue is derived from customers in the healthcare industry.'
Material Events(8-K, last 90d)
- 2026-04-28Item 5.02LOWNRC Health's Compensation Committee amended prior equity awards to CEO Trent Green, COO Helen Hrdy and Chief Corporate Development Officer Andrew Monich to correct tax-timing uncertainty on vested-share treatment; a routine compensation technical fix, not a departure.SEC filing →
- 2026-04-20Item 5.02LOWNRC Health amended CFO Shane Harrison's September 2025 restricted stock award to permit voting and dividend rights on unvested shares; a routine compensatory arrangement change, not a departure.SEC filing →
- 2026-04-20Item 5.03LOWNational Research Corporation changed its corporate name to NRC Health effective April 15, 2026 via a charter amendment (no stockholder vote required, ticker unchanged), alongside a board declassification action.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Rating Breakdown
2 floor-breakers
Ranks in the bottom of its industry peers on the composite signal. Better names in the same sector exist.static
Growth below the gate floor. Component breakdown shows what dragged the score down.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. At $21.31, A.R:R 0.2:1 is below the 1.5:1 minimum. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Thin upside margin: 3.7%; Concentration risk — Customer: healthcare industry customers. Chart setup: Golden cross, above all MAs, RSI 51, MACD bullish. Prior stop was $19.82. Score 5.5/10, moderate confidence.
Take-profit target: $22.10 (+3.7% upside). Prior stop was $19.82. Stop-loss: $19.82.
Concentration risk — Customer: healthcare industry customers; Thin upside margin: 3.7%; Leverage penalty (D/E 13.8): -1.5.
NRC Health trades at a P/E of 89.6 (forward 19.6). TrendMatrix value score: 6.1/10. Verdict: Sell.
5 analysts cover NRC with a consensus score of 4.0/5. Average price target: $26.
What does NRC Health do?NRC Health, formerly National Research Corporation, provides subscription-based patient experience, consumer...
NRC Health, formerly National Research Corporation, provides subscription-based patient experience, consumer experience, employee experience and market research analytics solutions to U.S. healthcare organizations, serving over 250 of the top 400 health systems by net patient revenue. The company's ten largest customers accounted for 20% of total revenue in 2025, up from 17% in 2024, and substantially all of its revenue is derived from customers in the healthcare industry.