R1 RCM (RCM) Cut to “Hold” at BidaskClub

BidaskClub downgraded shares of R1 RCM (NASDAQ:RCM) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

A number of other research firms have also recently commented on RCM. Zacks Investment Research cut shares of R1 RCM from a hold rating to a strong sell rating in a research report on Friday, June 15th. TheStreet cut shares of R1 RCM from a c rating to a d+ rating in a research report on Wednesday, May 9th. Cantor Fitzgerald began coverage on shares of R1 RCM in a research report on Tuesday, March 13th. They issued an overweight rating and a $9.00 price objective for the company. ValuEngine upgraded shares of R1 RCM from a buy rating to a strong-buy rating in a research report on Wednesday, May 2nd. Finally, Robert W. Baird upgraded shares of R1 RCM from a neutral rating to an outperform rating and set a $9.00 price objective for the company in a research report on Monday, April 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $9.06.

Shares of R1 RCM opened at $9.15 on Tuesday, according to Marketbeat.com. R1 RCM has a one year low of $3.05 and a one year high of $9.40. The company has a market capitalization of $1.02 billion, a PE ratio of -20.80 and a beta of -0.76.

R1 RCM (NASDAQ:RCM) last released its quarterly earnings data on Wednesday, May 9th. The financial services provider reported ($0.14) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.11). R1 RCM had a negative net margin of 14.47% and a negative return on equity of 45.77%. The firm had revenue of $147.30 million during the quarter, compared to the consensus estimate of $146.00 million. research analysts anticipate that R1 RCM will post -0.17 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in RCM. Cubist Systematic Strategies LLC bought a new position in R1 RCM during the 1st quarter worth about $100,000. Citadel Advisors LLC bought a new position in R1 RCM during the 4th quarter worth about $112,000. Allianz Asset Management GmbH bought a new position in R1 RCM during the 1st quarter worth about $148,000. Trexquant Investment LP bought a new position in R1 RCM during the 1st quarter worth about $156,000. Finally, Prudential Financial Inc. bought a new position in R1 RCM during the 1st quarter worth about $160,000. Hedge funds and other institutional investors own 47.40% of the company’s stock.

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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