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

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

Several other brokerages have also commented on RCM. KeyCorp restated a “sector weight” rating on shares of R1 RCM in a research note on Wednesday, April 10th. SVB Leerink lowered shares of R1 RCM from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $17.00 to $14.30 in a research note on Thursday, August 1st. Stephens lowered shares of R1 RCM from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 1st. Guggenheim lowered their target price on shares of R1 RCM from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of R1 RCM from $14.00 to $16.00 and gave the company a “hold” rating in a research note on Tuesday, July 9th. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, R1 RCM has an average rating of “Hold” and an average target price of $15.91.

R1 RCM Stock Performance

RCM stock remained flat at $13.95 during midday trading on Friday. 5,858,815 shares of the company’s stock were exchanged, compared to its average volume of 3,773,273. R1 RCM has a 12 month low of $8.87 and a 12 month high of $18.22. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a market capitalization of $5.88 billion, a P/E ratio of -174.25 and a beta of 0.85. The company’s 50-day moving average price is $12.69 and its 200 day moving average price is $12.37.

R1 RCM (NASDAQ:RCM) last released its earnings results 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 return on equity of 1.16% and a negative net margin of 1.39%. The company had revenue of $603.90 million during the quarter, compared to analysts’ expectations of $612.88 million. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, sell-side analysts anticipate that R1 RCM will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On R1 RCM

Institutional investors have recently modified their holdings of the stock. Arizona State Retirement System grew its position in shares of R1 RCM by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 47,063 shares of the healthcare provider’s stock worth $591,000 after buying an additional 969 shares during the period. Victory Capital Management Inc. grew its position in shares of R1 RCM by 7.7% during the 2nd quarter. Victory Capital Management Inc. now owns 36,006 shares of the healthcare provider’s stock worth $452,000 after buying an additional 2,574 shares during the period. ANTIPODES PARTNERS Ltd acquired a new stake in shares of R1 RCM during the 2nd quarter worth approximately $86,000. Privium Fund Management UK Ltd acquired a new stake in shares of R1 RCM during the 2nd quarter worth approximately $502,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of R1 RCM during the 2nd quarter worth approximately $149,000. 61.10% of the stock is 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.