R1 RCM (RCM) Stock Rating Upgraded by Zacks Investment Research

R1 RCM (NASDAQ:RCM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday, 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 subject of several other research reports. BidaskClub raised shares of R1 RCM from a “hold” rating to a “buy” rating in a research note on Wednesday, February 20th. Cantor Fitzgerald raised their price target on shares of R1 RCM from $11.00 to $13.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $14.20.

Shares of NASDAQ:RCM opened at $11.74 on Thursday. The company has a market capitalization of $1.30 billion, a P/E ratio of -36.69 and a beta of 0.14. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 118.26. R1 RCM has a one year low of $7.10 and a one year high of $12.48.

R1 RCM (NASDAQ:RCM) last issued its quarterly earnings data on Thursday, May 9th. The financial services provider reported ($0.04) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The business had revenue of $275.90 million during the quarter, compared to the consensus estimate of $266.37 million. R1 RCM had a negative net margin of 2.19% and a negative return on equity of 118.28%. The firm’s revenue was up 87.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.26) EPS. On average, research analysts forecast that R1 RCM will post 0.1 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in RCM. Bank of New York Mellon Corp raised its stake in R1 RCM by 2.9% during the third quarter. Bank of New York Mellon Corp now owns 401,937 shares of the financial services provider’s stock worth $4,084,000 after buying an additional 11,490 shares during the last quarter. JPMorgan Chase & Co. raised its stake in R1 RCM by 244.0% during the third quarter. JPMorgan Chase & Co. now owns 207,326 shares of the financial services provider’s stock worth $2,106,000 after buying an additional 147,053 shares during the last quarter. Morgan Stanley raised its stake in R1 RCM by 47.4% during the third quarter. Morgan Stanley now owns 337,927 shares of the financial services provider’s stock worth $3,433,000 after buying an additional 108,655 shares during the last quarter. Vanguard Group Inc. raised its stake in R1 RCM by 6.6% during the third quarter. Vanguard Group Inc. now owns 4,446,804 shares of the financial services provider’s stock worth $45,180,000 after buying an additional 275,119 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in R1 RCM by 1,501.7% during the fourth quarter. Bank of Montreal Can now owns 11,388 shares of the financial services provider’s stock worth $90,000 after buying an additional 10,677 shares during the last quarter. 69.69% of the stock is 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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