R1 RCM (NASDAQ:RCM) Cut to Equal Weight at Stephens

R1 RCM (NASDAQ:RCM) was downgraded by research analysts at Stephens from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports.

Several other analysts have also weighed in on the company. Jefferies Financial Group lowered R1 RCM from a “buy” rating to a “hold” rating in a report on Thursday. Guggenheim reduced their price objective on R1 RCM from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Cantor Fitzgerald reissued an “overweight” rating and issued a $20.00 price objective on shares of R1 RCM in a research note on Tuesday, July 2nd. SVB Leerink lowered R1 RCM from an “outperform” rating to a “market perform” rating in a research report on Thursday. Finally, Morgan Stanley reissued an “overweight” rating and set a $17.00 price objective on shares of R1 RCM in a report on Monday, July 8th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $16.00.

R1 RCM Trading Up 8.8 %

Shares of R1 RCM stock traded up $1.13 during trading hours on Thursday, reaching $14.01. The stock had a trading volume of 31,546,716 shares, compared to its average volume of 3,254,801. The firm has a market capitalization of $5.90 billion, a price-to-earnings ratio of -175.13 and a beta of 0.85. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.78. R1 RCM has a 1 year low of $8.87 and a 1 year high of $18.53. The firm has a 50 day simple moving average of $12.59 and a two-hundred day simple moving average of $12.25.

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

Hedge Funds Weigh In On R1 RCM

Several large investors have recently added to or reduced their stakes in RCM. abrdn plc purchased a new position in R1 RCM in the 4th quarter valued at approximately $3,772,000. First Light Asset Management LLC bought a new stake in R1 RCM in the fourth quarter worth $8,625,000. Gabelli Funds LLC bought a new position in shares of R1 RCM during the first quarter valued at about $2,114,000. Mirae Asset Global Investments Co. Ltd. raised its stake in R1 RCM by 76.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 396,830 shares of the healthcare provider’s stock worth $5,111,000 after buying an additional 171,400 shares in the last quarter. Finally, Aigen Investment Management LP bought a new position in shares of R1 RCM during the fourth quarter valued at approximately $758,000. Institutional investors own 61.10% of the company’s stock.

R1 RCM Company Profile

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.