Cantor Fitzgerald Downgrades R1 RCM (NASDAQ:RCM) to Hold

R1 RCM (NASDAQ:RCM) was downgraded by stock analysts at Cantor Fitzgerald from a “strong-buy” rating to a “hold” rating in a report released on Friday, Zacks.com reports.

A number of other research firms have also weighed in on RCM. Stephens lowered R1 RCM from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 1st. Robert W. Baird reiterated an “outperform” rating and set a $18.00 price target on shares of R1 RCM in a research report on Tuesday, July 2nd. Canaccord Genuity Group reiterated a “buy” rating and set a $15.00 price target on shares of R1 RCM in a research report on Monday, July 22nd. Guggenheim decreased their price target on R1 RCM from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Finally, SVB Leerink cut R1 RCM from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $17.00 to $14.30 in a research report on Thursday, August 1st. Twelve equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $15.91.

R1 RCM Price Performance

R1 RCM stock remained flat at $13.95 during midday trading on Friday. The company had a trading volume of 5,858,815 shares, compared to its average volume of 3,773,273. R1 RCM has a fifty-two week low of $8.87 and a fifty-two week high of $18.22. The business has a 50 day moving average of $12.69 and a 200-day moving average of $12.37. The firm has a market cap of $5.88 billion, a price-to-earnings ratio of -174.25 and a beta of 0.85. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.79 and a quick ratio of 1.79.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RCM. New York State Teachers Retirement System grew its position in R1 RCM by 2.4% during the fourth quarter. New York State Teachers Retirement System now owns 139,921 shares of the healthcare provider’s stock valued at $1,479,000 after acquiring an additional 3,300 shares during the last quarter. WCM Investment Management LLC boosted its stake in shares of R1 RCM by 13.4% during the fourth quarter. WCM Investment Management LLC now owns 487,703 shares of the healthcare provider’s stock valued at $5,233,000 after purchasing an additional 57,760 shares during the period. Louisiana State Employees Retirement System purchased a new stake in shares of R1 RCM during the fourth quarter valued at approximately $585,000. Lecap Asset Management Ltd. purchased a new stake in shares of R1 RCM during the fourth quarter valued at approximately $424,000. Finally, Voss Capital LLC boosted its stake in shares of R1 RCM by 553.9% during the fourth quarter. Voss Capital LLC now owns 7,125,000 shares of the healthcare provider’s stock valued at $75,311,000 after purchasing an additional 6,035,340 shares during the period. 61.10% of the stock is currently owned by institutional investors.

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.