TD Cowen Reaffirms Hold Rating for R1 RCM (NASDAQ:RCM)

R1 RCM (NASDAQ:RCM)‘s stock had its “hold” rating reiterated by equities researchers at TD Cowen in a research note issued to investors on Monday, Benzinga reports. They presently have a $14.30 price objective on the healthcare provider’s stock, down from their previous price objective of $20.00. TD Cowen’s target price indicates a potential upside of 2.51% from the company’s current price.

Several other analysts have also recently commented on RCM. Cantor Fitzgerald restated an “overweight” rating and set a $20.00 price objective on shares of R1 RCM in a research note on Tuesday, July 2nd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $15.00 target price on shares of R1 RCM in a report on Monday, July 22nd. Morgan Stanley reaffirmed an “overweight” rating and set a $17.00 target price on shares of R1 RCM in a report on Monday, July 8th. Robert W. Baird reaffirmed an “outperform” rating and set a $18.00 target price on shares of R1 RCM in a report on Tuesday, July 2nd. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of R1 RCM in a report on Wednesday, April 10th. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $15.91.

R1 RCM Stock Down 0.7 %

Shares of R1 RCM stock traded down $0.10 on Monday, reaching $13.95. The stock had a trading volume of 12,087,955 shares, compared to its average volume of 3,730,481. The company has a 50 day moving average price of $12.66 and a 200 day moving average price of $12.34. The company has a quick ratio of 1.79, a current 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 $18.22. The stock has a market capitalization of $5.88 billion, a P/E ratio of -174.50 and a beta of 0.85.

R1 RCM (NASDAQ:RCM) last released its earnings results on Wednesday, May 8th. The healthcare provider reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). The company 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 was up 10.7% on a year-over-year basis. As a group, equities research analysts forecast that R1 RCM will post -0.2 EPS for the current year.

Institutional Trading of R1 RCM

Several hedge funds have recently made changes to their positions in RCM. Capital International Investors increased its stake in shares of R1 RCM by 0.8% during the fourth quarter. Capital International Investors now owns 8,343,199 shares of the healthcare provider’s stock worth $88,188,000 after buying an additional 67,485 shares during the period. Voss Capital LLC increased 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 worth $75,311,000 after buying an additional 6,035,340 shares during the period. Norges Bank purchased a new stake in shares of R1 RCM during the fourth quarter worth approximately $42,539,000. P2 Capital Partners LLC increased its stake 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 increased its stake 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. Institutional investors and hedge funds 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.