R1 RCM Inc. (NASDAQ:RCM) Receives Average Recommendation of “Hold” from Brokerages

Shares of R1 RCM Inc. (NASDAQ:RCM) have been assigned a consensus rating of “Hold” from the eighteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Thirteen research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $15.41.

Several analysts have commented on the company. Leerink Partners cut R1 RCM from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $17.00 to $14.30 in a report on Thursday, August 1st. Truist Financial decreased their target price on R1 RCM from $16.00 to $14.30 and set a “hold” rating for the company in a report on Thursday, August 8th. Jefferies Financial Group cut R1 RCM from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Stephens cut R1 RCM from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 1st. Finally, Leerink Partnrs cut R1 RCM from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st.

R1 RCM Stock Performance

Shares of RCM stock opened at $14.31 on Thursday. The firm has a 50-day moving average price of $14.24 and a 200 day moving average price of $13.50. R1 RCM has a twelve month low of $8.87 and a twelve month high of $15.12. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of -95.39 and a beta of 0.84. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.76.

R1 RCM (NASDAQ:RCM) last posted its quarterly earnings results on Tuesday, November 5th. The healthcare provider reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The business had revenue of $656.80 million during the quarter, compared to analysts’ expectations of $640.93 million. R1 RCM had a negative net margin of 2.48% and a negative return on equity of 2.18%. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. Research analysts forecast that R1 RCM will post -0.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On R1 RCM

Several institutional investors and hedge funds have recently made changes to their positions in RCM. Clearbridge Investments LLC grew its stake in R1 RCM by 16.9% during the 1st quarter. Clearbridge Investments LLC now owns 1,162,703 shares of the healthcare provider’s stock worth $14,976,000 after buying an additional 168,197 shares during the last quarter. Natixis bought a new position in R1 RCM during the 1st quarter worth $2,883,000. Advisors Asset Management Inc. bought a new position in R1 RCM during the 1st quarter worth $27,000. Gabelli Funds LLC bought a new position in R1 RCM during the 1st quarter worth $2,114,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in R1 RCM during the 1st quarter worth $1,604,000. 61.10% of the stock is owned by institutional investors and hedge funds.

About R1 RCM

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.