R1 RCM (RCM) Rating Lowered to Hold at BidaskClub

BidaskClub downgraded shares of R1 RCM (NASDAQ:RCM) from a buy rating to a hold rating in a research note published on Wednesday morning.

A number of other analysts have also issued reports on the stock. KeyCorp started coverage on shares of R1 RCM in a research report on Tuesday, January 22nd. They set an overweight rating and a $10.00 target price on the stock. Citigroup started coverage on shares of R1 RCM in a research report on Monday, December 10th. They set a buy rating and a $20.00 target price on the stock. Finally, Zacks Investment Research lowered shares of R1 RCM from a hold rating to a sell rating in a research report on Friday, November 16th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. R1 RCM presently has an average rating of Buy and an average target price of $12.57.

Shares of RCM opened at $8.90 on Wednesday. The company has a debt-to-equity ratio of 37.41, a current ratio of 1.06 and a quick ratio of 1.06. R1 RCM has a 1-year low of $6.13 and a 1-year high of $11.00. The company has a market cap of $1.10 billion, a PE ratio of -27.81 and a beta of -0.03.

R1 RCM (NASDAQ:RCM) last issued its quarterly earnings data on Friday, February 22nd. The financial services provider reported ($0.02) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.02). R1 RCM had a negative net margin of 10.70% and a negative return on equity of 132.32%. The business had revenue of $262.90 million during the quarter, compared to analysts’ expectations of $264.48 million. The firm’s revenue for the quarter was up 87.4% on a year-over-year basis. As a group, sell-side analysts expect that R1 RCM will post 0.13 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the business. American Century Companies Inc. boosted its holdings in shares of R1 RCM by 38.1% in the 4th quarter. American Century Companies Inc. now owns 1,258,762 shares of the financial services provider’s stock valued at $10,007,000 after purchasing an additional 347,057 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of R1 RCM by 10.0% during the 4th quarter. Geode Capital Management LLC now owns 1,169,331 shares of the financial services provider’s stock valued at $9,296,000 after acquiring an additional 106,455 shares in the last quarter. FMR LLC lifted its holdings in shares of R1 RCM by 28.4% during the 4th quarter. FMR LLC now owns 982,445 shares of the financial services provider’s stock valued at $7,810,000 after acquiring an additional 217,543 shares in the last quarter. Penn Capital Management Co. Inc. lifted its holdings in shares of R1 RCM by 8.6% during the 4th quarter. Penn Capital Management Co. Inc. now owns 1,604,732 shares of the financial services provider’s stock valued at $13,677,000 after acquiring an additional 126,738 shares in the last quarter. Finally, Amalgamated Bank acquired a new position in shares of R1 RCM during the 4th quarter valued at $123,000. Institutional investors own 58.89% 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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Analyst Recommendations for R1 RCM (NASDAQ:RCM)

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