R1 RCM (NASDAQ:RCM) Downgraded by BidaskClub

BidaskClub lowered shares of R1 RCM (NASDAQ:RCM) from a sell rating to a strong sell rating in a research note issued to investors on Tuesday morning, BidAskClub reports.

A number of other equities analysts have also issued reports on RCM. Zacks Investment Research lowered R1 RCM from a buy rating to a hold rating in a research report on Tuesday, August 13th. Robert W. Baird set a $14.00 price target on R1 RCM and gave the stock a buy rating in a research note on Thursday, September 12th. Finally, ValuEngine downgraded R1 RCM from a strong-buy rating to a buy rating in a research note on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. R1 RCM has an average rating of Hold and an average price target of $14.20.

Shares of NASDAQ:RCM traded up $0.19 during trading on Tuesday, reaching $9.33. 53,764 shares of the stock were exchanged, compared to its average volume of 1,200,319. The company has a debt-to-equity ratio of 106.30, a quick ratio of 0.90 and a current ratio of 0.90. R1 RCM has a 12-month low of $7.10 and a 12-month high of $13.19. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of -29.09 and a beta of 0.10. The firm’s 50-day moving average price is $10.87 and its 200 day moving average price is $11.40.

R1 RCM (NASDAQ:RCM) last issued its earnings results on Tuesday, August 6th. The financial services provider reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.08). The firm had revenue of $295.00 million for the quarter, compared to analysts’ expectations of $294.11 million. R1 RCM had a negative return on equity of 249.01% and a negative net margin of 2.22%. The firm’s revenue for the quarter was up 41.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.07) EPS. As a group, equities research analysts forecast that R1 RCM will post 0.06 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Aperio Group LLC acquired a new position in R1 RCM during the second quarter worth approximately $127,000. NumerixS Investment Technologies Inc grew its position in shares of R1 RCM by 73.3% in the second quarter. NumerixS Investment Technologies Inc now owns 10,400 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 4,400 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of R1 RCM in the second quarter valued at approximately $139,000. SG Americas Securities LLC acquired a new position in shares of R1 RCM in the first quarter valued at approximately $142,000. Finally, Bank of Montreal Can grew its position in shares of R1 RCM by 179.5% in the second quarter. Bank of Montreal Can now owns 13,308 shares of the financial services provider’s stock valued at $168,000 after purchasing an additional 8,547 shares during the last quarter. 70.75% of the stock is currently owned by institutional investors and hedge funds.

R1 RCM Company Profile

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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