R1 RCM (NASDAQ:RCM) Lowered to Hold at Leerink Partnrs

Leerink Partnrs cut shares of R1 RCM (NASDAQ:RCM) from a strong-buy rating to a hold rating in a research note published on Thursday, Zacks.com reports.

A number of other equities analysts also recently commented on the stock. Cantor Fitzgerald restated an overweight rating and set a $20.00 price objective on shares of R1 RCM in a research report on Tuesday, July 2nd. Jefferies Financial Group cut shares of R1 RCM from a buy rating to a hold rating in a report on Thursday. Stephens lowered R1 RCM from an overweight rating to an equal weight rating in a report on Thursday. Morgan Stanley reissued an overweight rating and set a $17.00 target price on shares of R1 RCM in a research note on Monday, July 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on R1 RCM from $14.00 to $16.00 and gave the company a hold rating in a research note on Tuesday, July 9th. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, R1 RCM has an average rating of Hold and a consensus price target of $16.02.

R1 RCM Stock Performance

NASDAQ RCM opened at $14.05 on Thursday. The business’s 50-day moving average price is $12.66 and its 200 day moving average price is $12.34. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.78. The firm has a market cap of $5.92 billion, a P/E ratio of -175.63 and a beta of 0.85. R1 RCM has a 52-week low of $8.87 and a 52-week high of $18.52.

R1 RCM (NASDAQ:RCM) last announced its earnings results on Wednesday, May 8th. The healthcare provider reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.03). R1 RCM had a negative net margin of 1.39% and a negative return on equity of 1.16%. The company had revenue of $603.90 million during the quarter, compared to analysts’ expectations of $612.88 million. The company’s quarterly revenue was up 10.7% on a year-over-year basis. On average, equities research analysts expect that R1 RCM will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On R1 RCM

Several hedge funds have recently made changes to their positions in RCM. abrdn plc purchased a new position in R1 RCM during the fourth quarter worth approximately $3,772,000. First Light Asset Management LLC acquired a new position in R1 RCM in the fourth quarter valued at $8,625,000. Gabelli Funds LLC acquired a new position in R1 RCM in the first quarter valued at $2,114,000. Mirae Asset Global Investments Co. Ltd. grew its position in R1 RCM by 76.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 396,830 shares of the healthcare provider’s stock valued at $5,111,000 after acquiring an additional 171,400 shares during the period. Finally, Aigen Investment Management LP acquired a new stake in R1 RCM during the fourth quarter worth about $758,000. Institutional investors and hedge funds own 61.10% of the company’s stock.

About R1 RCM

R1 RCM Inc provides technology-driven solutions for the financial performance and patient experience of health systems, hospitals, and physician groups. It provides operating partnership/end-to-end solutions, which manages multiple aspects of the revenue cycle to realize financial leverage and revenue improvement for hospital and physician customers.