R1 RCM (NASDAQ:RCM) Downgraded to Hold at Jefferies Financial Group

R1 RCM (NASDAQ:RCM) was downgraded by investment analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a report released on Thursday, MarketBeat reports.

Other analysts have also recently issued reports about the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $15.00 target price on shares of R1 RCM in a research note on Monday, July 22nd. Guggenheim lowered their target price on shares of R1 RCM from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, April 5th. KeyCorp reiterated a “sector weight” rating on shares of R1 RCM in a report on Wednesday, April 10th. Morgan Stanley reiterated an “overweight” rating and issued a $17.00 price target on shares of R1 RCM in a report on Monday, July 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $20.00 price target on shares of R1 RCM in a report on Tuesday, July 2nd. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $16.00.

R1 RCM Stock Performance

Shares of RCM traded up $1.13 during mid-day trading on Thursday, hitting $14.01. 31,546,716 shares of the company’s stock were exchanged, compared to its average volume of 3,254,801. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $5.90 billion, a P/E ratio of -175.25 and a beta of 0.85. R1 RCM has a fifty-two week low of $8.87 and a fifty-two week high of $18.53. The business’s 50 day moving average is $12.59 and its two-hundred day moving average is $12.25.

R1 RCM (NASDAQ:RCM) last announced its quarterly earnings data on Wednesday, May 8th. The healthcare provider reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). R1 RCM had a negative net margin of 1.39% and a negative return on equity of 1.16%. The firm had revenue of $603.90 million during the quarter, compared to analyst estimates of $612.88 million. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, equities analysts expect that R1 RCM will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On R1 RCM

Several institutional investors and hedge funds have recently modified their holdings of the stock. Retirement Systems of Alabama grew its stake in R1 RCM by 0.3% during the first quarter. Retirement Systems of Alabama now owns 247,476 shares of the healthcare provider’s stock worth $3,187,000 after buying an additional 856 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of R1 RCM by 4.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 19,601 shares of the healthcare provider’s stock worth $207,000 after acquiring an additional 908 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of R1 RCM by 20.5% in the fourth quarter. Van ECK Associates Corp now owns 6,141 shares of the healthcare provider’s stock worth $65,000 after acquiring an additional 1,044 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in shares of R1 RCM by 10.6% in the second quarter. QRG Capital Management Inc. now owns 11,307 shares of the healthcare provider’s stock worth $142,000 after acquiring an additional 1,080 shares during the last quarter. Finally, State of Michigan Retirement System lifted its holdings in shares of R1 RCM by 2.5% in the first quarter. State of Michigan Retirement System now owns 48,401 shares of the healthcare provider’s stock worth $623,000 after acquiring an additional 1,200 shares during the last quarter. 61.10% of the stock is currently owned by institutional investors and hedge funds.

About R1 RCM

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.