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

R1 RCM (NASDAQ:RCM) was downgraded by equities research analysts at SVB Leerink from an “outperform” rating to a “market perform” rating in a report issued on Thursday, Marketbeat Ratings reports.

A number of other research analysts have also recently issued reports on RCM. Royal Bank of Canada reaffirmed an “outperform” rating and set a $19.00 price objective on shares of R1 RCM in a research note on Friday, June 28th. Canaccord Genuity Group restated 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 downgraded R1 RCM from a “buy” rating to a “hold” rating in a report on Thursday. Morgan Stanley restated an “overweight” rating and set a $17.00 price target on shares of R1 RCM in a report on Monday, July 8th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $18.00 target price on shares of R1 RCM in a report on Tuesday, July 2nd. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, R1 RCM currently has a consensus rating of “Hold” and a consensus target price of $16.00.

R1 RCM Price Performance

NASDAQ RCM traded up $1.13 during trading hours on Thursday, reaching $14.01. 31,546,716 shares of the stock traded hands, compared to its average volume of 3,254,801. The stock has a 50 day simple moving average of $12.59 and a two-hundred day simple moving average of $12.25. R1 RCM has a 1 year low of $8.87 and a 1 year high of $18.53. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.79 and a quick ratio of 1.79. The company has a market cap of $5.90 billion, a price-to-earnings ratio of -175.13 and a beta of 0.85.

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 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 for the quarter, compared to analysts’ expectations of $612.88 million. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, analysts predict that R1 RCM will post -0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On R1 RCM

Hedge funds and other institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. bought a new position in shares of R1 RCM during the 1st quarter valued at $27,000. ANTIPODES PARTNERS Ltd increased its stake in shares of R1 RCM by 429.5% in the 4th 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 in the last quarter. Van ECK Associates Corp increased its stake in shares of R1 RCM by 20.5% in the 4th quarter. Van ECK Associates Corp now owns 6,141 shares of the healthcare provider’s stock worth $65,000 after purchasing an additional 1,044 shares in the last quarter. QRG Capital Management Inc. purchased a new stake in shares of R1 RCM in the 1st quarter worth $132,000. Finally, Caas Capital Management LP purchased a new stake in shares of R1 RCM in the 4th quarter worth $148,000. 61.10% of the stock is owned by institutional investors.

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.