R1 RCM (RCM) Stock Rating Lowered by BidaskClub

BidaskClub cut shares of R1 RCM (NASDAQ:RCM) from a strong-buy rating to a buy rating in a report published on Thursday morning, BidAskClub reports.

A number of other analysts also recently commented on the company. Cantor Fitzgerald upped their target price on R1 RCM from $11.00 to $13.00 and gave the stock an overweight rating in a research note on Friday, April 12th. Zacks Investment Research upgraded R1 RCM from a hold rating to a buy rating and set a $11.00 target price on the stock in a research note on Saturday, March 2nd. Finally, KeyCorp started coverage on R1 RCM in a research note on Tuesday, January 22nd. They issued an overweight rating and a $10.00 target price on the stock. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $14.20.

R1 RCM stock opened at $10.04 on Thursday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 56.51. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of -31.38 and a beta of 0.11. R1 RCM has a fifty-two week low of $7.10 and a fifty-two week high of $11.32.

R1 RCM (NASDAQ:RCM) last posted its quarterly earnings results on Friday, February 22nd. The financial services provider reported ($0.02) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.02). The business had revenue of $262.90 million for the quarter, compared to the consensus estimate of $264.48 million. R1 RCM had a negative return on equity of 145.94% and a negative net margin of 5.22%. The business’s revenue was up 87.4% on a year-over-year basis. On average, research analysts forecast that R1 RCM will post 0.25 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its position in R1 RCM by 64.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,463 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 2,926 shares in the last quarter. Bank of Montreal Can boosted its position in R1 RCM by 1,501.7% during the fourth quarter. Bank of Montreal Can now owns 11,388 shares of the financial services provider’s stock worth $90,000 after purchasing an additional 10,677 shares in the last quarter. Falcon Point Capital LLC purchased a new position in R1 RCM during the fourth quarter worth approximately $112,000. Cim LLC purchased a new position in R1 RCM during the fourth quarter worth approximately $120,000. Finally, Amalgamated Bank purchased a new position in R1 RCM during the fourth quarter worth approximately $123,000. Hedge funds and other institutional investors own 65.82% of the company’s stock.

About R1 RCM

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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