R1 RCM (NASDAQ:RCM) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of R1 RCM (NASDAQ:RCM) from a hold rating to a buy rating in a report published on Wednesday, Zacks.com reports. Zacks Investment Research currently has $14.00 price objective on the financial services provider’s stock.

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. “

Other analysts also recently issued reports about the stock. BidaskClub upgraded shares of Misonix from a buy rating to a strong-buy rating in a report on Wednesday, July 3rd. Cantor Fitzgerald set a $9.00 price objective on shares of Evofem Biosciences and gave the company a buy rating in a report on Friday, April 12th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and an average price target of $14.80.

Shares of NASDAQ:RCM opened at $13.02 on Wednesday. The company has a 50 day moving average price of $12.13. The company has a debt-to-equity ratio of 118.26, a quick ratio of 0.93 and a current ratio of 0.93. R1 RCM has a fifty-two week low of $7.10 and a fifty-two week high of $13.09.

R1 RCM (NASDAQ:RCM) last announced its earnings results on Thursday, May 9th. The financial services provider reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. The firm had revenue of $275.90 million for the quarter, compared to the consensus estimate of $266.37 million. R1 RCM had a negative net margin of 2.19% and a negative return on equity of 118.28%. The business’s quarterly revenue was up 87.3% on a year-over-year basis. During the same period last year, the company posted ($0.26) EPS. On average, analysts forecast that R1 RCM will post 0.13 EPS for the current fiscal year.

In related news, Director Charles J. Ditkoff sold 4,099 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $11.72, for a total value of $48,040.28. Following the completion of the transaction, the director now directly owns 4,099 shares of the company’s stock, valued at $48,040.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 59.40% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its holdings in shares of 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 buying an additional 2,926 shares in the last quarter. Quantamental Technologies LLC acquired a new position in R1 RCM in the first quarter valued at about $67,000. Amalgamated Bank acquired a new position in R1 RCM in the fourth quarter valued at about $123,000. SG Americas Securities LLC acquired a new position in R1 RCM in the first quarter valued at about $142,000. Finally, Bessemer Group Inc. acquired a new position in R1 RCM in the fourth quarter valued at about $156,000. 69.69% of the stock is owned by hedge funds and other institutional investors.

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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