R1 RCM (RCM) Stock Rating Reaffirmed by Cowen

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Cowen reissued their in-line rating on shares of R1 RCM (NASDAQ:RCM) in a research note published on Monday, March 12th. Cowen currently has a $10.00 price objective on the financial services provider’s stock, up from their prior price objective of $5.00.

Several other research firms also recently weighed in on RCM. Zacks Investment Research upgraded R1 RCM from a sell rating to a hold rating in a research report on Thursday, March 1st. BidaskClub upgraded R1 RCM from a buy rating to a strong-buy rating in a research note on Saturday, March 10th. Finally, Robert W. Baird restated a hold rating and set a $7.00 price target on shares of R1 RCM in a research note on Monday, February 26th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $7.50.

RCM traded down $0.07 during trading on Monday, reaching $7.10. 295,781 shares of the company traded hands, compared to its average volume of 363,106. R1 RCM has a 12-month low of $3.05 and a 12-month high of $7.99. The firm has a market cap of $744.08, a P/E ratio of -16.30 and a beta of -0.75.

R1 RCM (NASDAQ:RCM) last posted its earnings results on Friday, March 9th. The financial services provider reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.07). The business had revenue of $140.30 million during the quarter, compared to analysts’ expectations of $131.20 million. R1 RCM had a negative net margin of 13.07% and a negative return on equity of 31.68%. equities research analysts expect that R1 RCM will post -0.15 EPS for the current year.

Several hedge funds have recently modified their holdings of the company. Schwab Charles Investment Management Inc. grew its stake in shares of R1 RCM by 4.9% during the third quarter. Schwab Charles Investment Management Inc. now owns 334,108 shares of the financial services provider’s stock worth $1,240,000 after acquiring an additional 15,740 shares during the last quarter. Citadel Advisors LLC purchased a new stake in shares of R1 RCM during the fourth quarter worth about $112,000. Wells Fargo & Company MN grew its stake in shares of R1 RCM by 43.2% during the third quarter. Wells Fargo & Company MN now owns 109,067 shares of the financial services provider’s stock worth $405,000 after acquiring an additional 32,907 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of R1 RCM by 13.1% during the third quarter. Bank of New York Mellon Corp now owns 317,302 shares of the financial services provider’s stock worth $1,178,000 after acquiring an additional 36,847 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of R1 RCM during the fourth quarter worth about $166,000. Institutional investors and hedge funds own 49.27% of the company’s stock.

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R1 RCM Company Profile

R1 RCM Inc is a provider of revenue cycle management (RCM) and physician advisory services (PAS) to healthcare providers. The Company is engaged in providing management services of revenue cycle operations for the United States-based hospitals and other medical services providers. Its primary service offering consists of end-to-end RCM, which the Company deploys through a co-managed relationship or an operating partner relationship.

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