ValuEngine Lowers R1 RCM (NASDAQ:RCM) to Buy

ValuEngine lowered shares of R1 RCM (NASDAQ:RCM) from a strong-buy rating to a buy rating in a report published on Thursday morning, ValuEngine reports.

Several other research firms have also commented on RCM. Cantor Fitzgerald boosted their price target on R1 RCM from $11.00 to $13.00 and gave the stock an overweight rating in a research report on Friday, April 12th. Zacks Investment Research raised R1 RCM from a hold rating to a buy rating and set a $14.00 target price on the stock in a research report on Wednesday, July 10th. Finally, BidaskClub raised R1 RCM from a buy rating to a strong-buy rating in a research report on Wednesday, July 3rd. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $14.80.

Shares of RCM traded down $0.20 during trading hours on Thursday, hitting $12.53. The company had a trading volume of 804,807 shares, compared to its average volume of 752,375. The company has a market cap of $1.41 billion, a P/E ratio of -39.16 and a beta of 0.09. The company has a debt-to-equity ratio of 118.26, a current ratio of 0.93 and a quick ratio of 0.93. R1 RCM has a one year low of $7.10 and a one year high of $13.19. The business’s fifty day moving average price is $12.58.

R1 RCM (NASDAQ:RCM) last released its quarterly earnings results on Thursday, May 9th. The financial services provider reported ($0.04) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The firm had revenue of $275.90 million during the quarter, compared to analyst estimates of $266.37 million. R1 RCM had a negative return on equity of 118.28% and a negative net margin of 2.19%. The business’s revenue for the quarter was up 87.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.26) EPS. Sell-side analysts predict that R1 RCM will post 0.13 earnings per share for the current year.

In related news, Director Charles J. Ditkoff sold 4,099 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $11.72, for a total transaction of $48,040.28. Following the transaction, the director now directly owns 4,099 shares of the company’s stock, valued at approximately $48,040.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 59.40% of the company’s stock.

A number of large investors have recently made changes to their positions in RCM. Legal & General Group Plc grew its stake in R1 RCM by 15.8% during the 4th quarter. Legal & General Group Plc now owns 19,654 shares of the financial services provider’s stock valued at $156,000 after purchasing an additional 2,675 shares during the last quarter. Swiss National Bank grew its stake in R1 RCM by 2.1% during the 2nd quarter. Swiss National Bank now owns 164,100 shares of the financial services provider’s stock valued at $2,064,000 after purchasing an additional 3,400 shares during the last quarter. Quantamental Technologies LLC purchased a new stake in R1 RCM during the 1st quarter valued at about $67,000. United Services Automobile Association grew its stake in R1 RCM by 44.1% during the 4th quarter. United Services Automobile Association now owns 31,422 shares of the financial services provider’s stock valued at $250,000 after purchasing an additional 9,616 shares during the last quarter. Finally, Aperio Group LLC purchased a new stake in R1 RCM during the 2nd quarter valued at about $127,000. 70.28% of the stock is currently owned by institutional investors.

R1 RCM Company Profile

R1 RCM Inc provides revenue cycle management (RCM) for healthcare providers in the United States. It offers end-to-end RCM services to manage their revenue cycle operations, which encompass patient registration, insurance and benefit verification, medical treatment documentation and coding, and bill preparation and collection from patients and payers.

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