R1 RCM (NASDAQ:RCM) Given “Hold” Rating at TD Cowen

TD Cowen reissued their hold rating on shares of R1 RCM (NASDAQ:RCM) in a report released on Monday, Benzinga reports. TD Cowen currently has a $14.30 price target on the healthcare provider’s stock, down from their prior price target of $20.00.

Several other equities research analysts have also commented on RCM. KeyCorp reiterated a sector weight rating on shares of R1 RCM in a research note on Wednesday, April 10th. Morgan Stanley reiterated an overweight rating and set a $17.00 price target on shares of R1 RCM in a research report on Monday, July 8th. Stephens lowered R1 RCM from an overweight rating to an equal weight rating in a report on Thursday, August 1st. Jefferies Financial Group lowered shares of R1 RCM from a buy rating to a hold rating in a report on Thursday, August 1st. Finally, Leerink Partnrs cut shares of R1 RCM from a strong-buy rating to a hold rating in a research report on Thursday, August 1st. Twelve investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, R1 RCM presently has an average rating of Hold and a consensus target price of $15.91.

R1 RCM Stock Performance

Shares of NASDAQ:RCM remained flat at $13.95 during midday trading on Monday. The stock had a trading volume of 5,858,815 shares, compared to its average volume of 3,773,273. The company has a 50-day simple moving average of $12.69 and a two-hundred day simple moving average of $12.37. R1 RCM has a 52-week low of $8.87 and a 52-week high of $18.22. The stock has a market cap of $5.88 billion, a P/E ratio of -174.25 and a beta of 0.85. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.79 and a current ratio of 1.79.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Capital International Investors raised its stake in shares of R1 RCM by 0.8% in the 4th quarter. Capital International Investors now owns 8,343,199 shares of the healthcare provider’s stock valued at $88,188,000 after acquiring an additional 67,485 shares during the period. Voss Capital LLC increased its holdings in R1 RCM by 553.9% in the 4th 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 last quarter. Norges Bank purchased a new stake in R1 RCM in the fourth quarter valued at approximately $42,539,000. P2 Capital Partners LLC boosted its position in shares of R1 RCM by 70,366.3% during the fourth quarter. P2 Capital Partners LLC now owns 3,535,294 shares of the healthcare provider’s stock worth $37,368,000 after buying an additional 3,530,277 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of R1 RCM by 81.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,826,545 shares of the healthcare provider’s stock worth $29,879,000 after buying an additional 1,269,837 shares during the period. 61.10% of the stock is currently owned by hedge funds and other 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.