R1 RCM (NASDAQ:RCM) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of R1 RCM (NASDAQ:RCM) from a buy rating to a hold rating in a research report released on Saturday morning, Zacks.com reports.

According to Zacks, “R1 RCM Inc. offers financial services for the health care industries. The Company provides revenue cycle management and physician advisory services, as well as transforms and manages the commercial infrastructure of health care organizations. R1 RCM Inc., formerly known as Accretive Health, Inc., is headquartered in Chicago, Illinois. “

RCM has been the topic of a number of other research reports. BidaskClub upgraded R1 RCM from a sell rating to a hold rating in a research note on Wednesday. Robert W. Baird set a $14.00 price objective on R1 RCM and gave the stock a buy rating in a research note on Thursday, September 12th. Finally, ValuEngine upgraded R1 RCM from a sell rating to a hold rating in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. R1 RCM presently has an average rating of Buy and a consensus price target of $13.40.

Shares of RCM stock traded up $0.07 during mid-day trading on Friday, hitting $11.84. 899,900 shares of the company’s stock were exchanged, compared to its average volume of 1,000,937. The stock has a 50-day simple moving average of $10.01 and a two-hundred day simple moving average of $11.40. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -37.00 and a beta of 0.15. R1 RCM has a fifty-two week low of $7.10 and a fifty-two week high of $13.19. The company has a quick ratio of 0.90, a current ratio of 0.94 and a debt-to-equity ratio of 29.28.

R1 RCM (NASDAQ:RCM) last issued its quarterly earnings data on Tuesday, November 5th. The healthcare provider reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.08). The company had revenue of $301.20 million for the quarter, compared to analyst estimates of $302.85 million. R1 RCM had a positive return on equity of 100.31% and a negative net margin of 0.13%. The company’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.17) EPS. As a group, analysts anticipate that R1 RCM will post 0.06 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of R1 RCM by 38.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,817 shares of the healthcare provider’s stock worth $52,000 after acquiring an additional 1,625 shares during the last quarter. Calamos Advisors LLC increased its position in shares of R1 RCM by 1.3% during the third quarter. Calamos Advisors LLC now owns 260,697 shares of the healthcare provider’s stock worth $2,327,000 after acquiring an additional 3,331 shares during the last quarter. Swiss National Bank increased its position in shares of R1 RCM by 2.1% during the second quarter. Swiss National Bank now owns 164,100 shares of the healthcare provider’s stock worth $2,064,000 after acquiring an additional 3,400 shares during the last quarter. NumerixS Investment Technologies Inc increased its position in shares of R1 RCM by 73.3% during the second quarter. NumerixS Investment Technologies Inc now owns 10,400 shares of the healthcare provider’s stock worth $131,000 after acquiring an additional 4,400 shares during the last quarter. Finally, Insight Wealth Strategies LLC increased its position in shares of R1 RCM by 4.7% during the second quarter. Insight Wealth Strategies LLC now owns 185,928 shares of the healthcare provider’s stock worth $2,339,000 after acquiring an additional 8,357 shares during the last quarter. 71.10% of the stock is currently owned by institutional investors and hedge funds.

About R1 RCM

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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