R1 RCM (NASDAQ:RCM) Rating Lowered to Hold at Leerink Partnrs

Leerink Partnrs lowered shares of R1 RCM (NASDAQ:RCM) from a strong-buy rating to a hold rating in a research note released on Thursday morning, Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. Jefferies Financial Group cut R1 RCM from a buy rating to a hold rating in a research note on Thursday. Royal Bank of Canada reissued an outperform rating and set a $19.00 target price on shares of R1 RCM in a research report on Friday, June 28th. SVB Leerink downgraded shares of R1 RCM from an outperform rating to a market perform rating and dropped their price target for the stock from $17.00 to $14.30 in a research report on Thursday. Morgan Stanley reaffirmed an overweight rating and issued a $17.00 price objective on shares of R1 RCM in a research note on Monday, July 8th. Finally, Guggenheim lowered their target price on shares of R1 RCM from $17.00 to $15.00 and set a buy rating for the company in a research note on Friday, April 5th. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $16.02.

R1 RCM Stock Down 0.6 %

Shares of NASDAQ RCM opened at $14.05 on Thursday. The company has a market cap of $5.92 billion, a price-to-earnings ratio of -175.63 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 12 month low of $8.87 and a 12 month high of $18.52. The stock has a 50-day moving average price of $12.66 and a two-hundred day moving average price of $12.34.

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

Institutional Trading of R1 RCM

Several hedge funds have recently added to or reduced their stakes in RCM. Voss Capital LLC lifted its position in shares of R1 RCM by 553.9% during the 4th quarter. Voss Capital LLC now owns 7,125,000 shares of the healthcare provider’s stock valued at $75,311,000 after buying an additional 6,035,340 shares during the last quarter. Norges Bank purchased a new stake in R1 RCM during the fourth quarter valued at about $42,539,000. P2 Capital Partners LLC boosted its position in 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 purchasing an additional 3,530,277 shares during the period. Boston Partners increased its stake in shares of R1 RCM by 4,976.6% in the first quarter. Boston Partners now owns 2,570,371 shares of the healthcare provider’s stock worth $32,784,000 after purchasing an additional 2,519,739 shares in the last quarter. Finally, Sea Cliff Partners Management LP bought a new stake in shares of R1 RCM in the fourth quarter valued at approximately $18,459,000. Institutional investors own 61.10% of the company’s stock.

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.