Zacks Investment Research Lowers R1 RCM (RCM) to Sell

Zacks Investment Research lowered shares of R1 RCM (NASDAQ:RCM) from a hold rating to a sell rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “R1 RCM Inc. offers financial services for the health care industries. The Company provides revenue cycle management and physician advisory services, as well as transforms and manages the commercial infrastructure of health care organizations. R1 RCM Inc., formerly known as Accretive Health, Inc., is headquartered in Chicago, Illinois. “

Several other brokerages also recently issued reports on RCM. BidaskClub upgraded shares of R1 RCM from a hold rating to a buy rating in a research report on Wednesday, February 20th. KeyCorp began coverage on shares of R1 RCM in a research report on Tuesday, January 22nd. They set an overweight rating and a $10.00 price target on the stock. Finally, Cantor Fitzgerald upped their price target on shares of R1 RCM from $11.00 to $13.00 and gave the stock an overweight rating in a research report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. R1 RCM has a consensus rating of Buy and a consensus price target of $14.20.

Shares of NASDAQ:RCM traded down $0.15 on Wednesday, hitting $11.96. The stock had a trading volume of 970,803 shares, compared to its average volume of 1,096,048. R1 RCM has a twelve month low of $7.10 and a twelve month high of $12.48. The company has a debt-to-equity ratio of 118.26, a quick ratio of 1.00 and a current ratio of 0.93.

R1 RCM (NASDAQ:RCM) last issued its earnings results on Thursday, May 9th. The financial services provider reported ($0.04) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. R1 RCM had a negative net margin of 2.19% and a negative return on equity of 118.28%. The company had revenue of $275.90 million for the quarter, compared to the consensus estimate of $266.37 million. During the same quarter in the previous year, the company earned ($0.26) EPS. The firm’s revenue for the quarter was up 87.3% compared to the same quarter last year. As a group, equities research analysts anticipate that R1 RCM will post 0.1 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. NumerixS Investment Technologies Inc acquired a new position in R1 RCM during the 1st quarter worth about $58,000. PNC Financial Services Group Inc. lifted its position in R1 RCM by 64.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,463 shares of the financial services provider’s stock worth $59,000 after buying an additional 2,926 shares in the last quarter. Quantamental Technologies LLC acquired a new position in R1 RCM during the 1st quarter worth about $67,000. Bank of Montreal Can lifted its position in R1 RCM by 1,501.7% during the 4th quarter. Bank of Montreal Can now owns 11,388 shares of the financial services provider’s stock worth $90,000 after buying an additional 10,677 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new position in R1 RCM during the 1st quarter worth about $103,000. Institutional investors and hedge funds own 66.05% of the company’s stock.

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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