SVB Leerink Lowers R1 RCM (NASDAQ:RCM) to Market Perform

SVB Leerink cut shares of R1 RCM (NASDAQ:RCM) from an outperform rating to a market perform rating in a report released on Thursday, Marketbeat.com reports. The brokerage currently has $14.30 price objective on the healthcare provider’s stock, down from their prior price objective of $17.00.

Several other research firms have also recently weighed in on RCM. Canaccord Genuity Group reissued a buy rating and set a $15.00 price target on shares of R1 RCM in a report on Monday, July 22nd. Jefferies Financial Group lowered R1 RCM from a buy rating to a hold rating in a research note on Thursday. KeyCorp restated a sector weight rating on shares of R1 RCM in a research note on Wednesday, April 10th. Morgan Stanley restated an overweight rating and issued a $17.00 price objective on shares of R1 RCM in a research note on Monday, July 8th. Finally, Cantor Fitzgerald restated an overweight rating and issued a $20.00 price objective on shares of R1 RCM in a research note on Tuesday, July 2nd. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, R1 RCM presently has a consensus rating of Hold and a consensus price target of $16.02.

R1 RCM Stock Down 1.0 %

RCM stock traded down $0.14 during midday trading on Thursday, hitting $13.91. The company’s stock had a trading volume of 4,275,155 shares, compared to its average volume of 3,678,047. The company has a market cap of $5.86 billion, a PE ratio of -175.63 and a beta of 0.85. R1 RCM has a 12 month low of $8.87 and a 12 month high of $18.22. 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’s 50-day moving average is $12.66 and its 200-day moving average is $12.34.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. lifted its holdings in shares of R1 RCM by 79.1% in the 4th quarter. Pacer Advisors Inc. now owns 29,603 shares of the healthcare provider’s stock valued at $313,000 after acquiring an additional 13,071 shares during the last quarter. ANTIPODES PARTNERS Ltd lifted its stake in R1 RCM by 429.5% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 5,623 shares of the healthcare provider’s stock worth $59,000 after purchasing an additional 4,561 shares during the last quarter. New York State Teachers Retirement System lifted its stake in R1 RCM by 2.4% in the fourth quarter. New York State Teachers Retirement System now owns 139,921 shares of the healthcare provider’s stock worth $1,479,000 after purchasing an additional 3,300 shares during the last quarter. WCM Investment Management LLC lifted its stake in R1 RCM by 13.4% in the fourth quarter. WCM Investment Management LLC now owns 487,703 shares of the healthcare provider’s stock worth $5,233,000 after purchasing an additional 57,760 shares during the last quarter. Finally, Louisiana State Employees Retirement System bought a new stake in R1 RCM in the fourth quarter worth about $585,000. Hedge funds and other institutional investors own 61.10% of the company’s stock.

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.