R1 RCM’s (RCM) Neutral Rating Reiterated at Cantor Fitzgerald

by · The Cerbat Gem

Cantor Fitzgerald reiterated their neutral rating on shares of R1 RCM (NASDAQ:RCM – Free Report) in a research note released on Friday, Benzinga reports. They currently have a $14.30 target price on the healthcare provider’s stock.

Several other research analysts have also issued reports on RCM. Leerink Partners lowered R1 RCM from an outperform rating to a market perform rating and reduced their target price for the company from $17.00 to $14.30 in a research report on Thursday, August 1st. Canaccord Genuity Group reaffirmed a buy rating and issued a $15.00 price objective on shares of R1 RCM in a research report on Monday, July 22nd. Stephens downgraded shares of R1 RCM from an overweight rating to an equal weight rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft raised their price target on shares of R1 RCM from $14.00 to $16.00 and gave the stock a hold rating in a report on Tuesday, July 9th. Finally, Morgan Stanley lowered shares of R1 RCM from an overweight rating to an equal weight rating in a report on Thursday, August 8th. Thirteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $15.41.

Read Our Latest Stock Analysis on RCM

R1 RCM Stock Performance

Shares of R1 RCM stock opened at $14.19 on Friday. R1 RCM has a 12 month low of $8.87 and a 12 month high of $15.12. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.77. The firm has a market cap of $5.98 billion, a P/E ratio of -177.38 and a beta of 0.85. The stock’s fifty day moving average price is $14.01 and its 200-day moving average price is $13.04.

R1 RCM (NASDAQ:RCM – Get Free Report) last announced its earnings results on Wednesday, August 7th. The healthcare provider reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. R1 RCM had a negative net margin of 1.68% and a negative return on equity of 1.44%. The business had revenue of $627.90 million during the quarter, compared to the consensus estimate of $633.10 million. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, equities research analysts expect that R1 RCM will post -0.24 earnings per share for the current fiscal year.

Institutional Trading of R1 RCM

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bardin Hill Management Partners LP boosted its position in R1 RCM by 98.7% in the 2nd quarter. Bardin Hill Management Partners LP now owns 525,211 shares of the healthcare provider’s stock worth $6,597,000 after purchasing an additional 260,891 shares in the last quarter. Scientech Research LLC purchased a new stake in R1 RCM during the second quarter worth $285,000. Sea Cliff Partners Management LP boosted its holdings in R1 RCM by 14.3% during the second quarter. Sea Cliff Partners Management LP now owns 2,437,450 shares of the healthcare provider’s stock worth $30,614,000 after buying an additional 305,672 shares in the last quarter. Millennium Management LLC grew its position in R1 RCM by 8.1% during the second quarter. Millennium Management LLC now owns 457,907 shares of the healthcare provider’s stock valued at $5,751,000 after buying an additional 34,475 shares during the period. Finally, Dark Forest Capital Management LP increased its holdings in R1 RCM by 67.5% in the second quarter. Dark Forest Capital Management LP now owns 57,749 shares of the healthcare provider’s stock valued at $725,000 after buying an additional 23,270 shares in the last quarter. 61.10% of the stock is owned by institutional investors and hedge funds.

About R1 RCM

(Get Free Report)

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.

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