R1 RCM (NASDAQ:RCM) Stock Rating Upgraded by Zacks Investment Research

R1 RCM (NASDAQ:RCMGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, Zacks.com reports. The brokerage currently has a $30.00 price target on the healthcare provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 9.89% from the company’s previous close.

According to Zacks, “R1 RCM Inc. offers financial services for the health care industries. The Company provides revenue cycle management and physician advisory services, as well as transforms and manages the commercial infrastructure of health care organizations. R1 RCM Inc., formerly known as Accretive Health, Inc., is headquartered in Chicago, Illinois. “

Other equities research analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft initiated coverage on R1 RCM in a report on Wednesday, February 9th. They set a “buy” rating and a $30.00 price target for the company. Guggenheim initiated coverage on R1 RCM in a report on Wednesday, April 13th. They set a “neutral” rating for the company. Finally, Robert W. Baird lifted their price target on R1 RCM from $29.00 to $32.00 in a report on Thursday, March 3rd. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $29.50.

Shares of NASDAQ RCM opened at $27.30 on Thursday. R1 RCM has a one year low of $18.71 and a one year high of $27.95. The firm has a market capitalization of $7.60 billion, a PE ratio of -12.70, a PEG ratio of 3.12 and a beta of 0.77. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 2.19. The business has a 50-day moving average price of $26.09 and a two-hundred day moving average price of $24.49.

R1 RCM (NASDAQ:RCMGet Rating) last announced its quarterly earnings data on Thursday, February 17th. The healthcare provider reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.01. R1 RCM had a return on equity of 30.22% and a net margin of 6.59%. The firm had revenue of $398.90 million during the quarter, compared to analyst estimates of $399.26 million. During the same period last year, the company posted $0.06 EPS. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. Research analysts anticipate that R1 RCM will post 0.46 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of RCM. Point72 Hong Kong Ltd acquired a new stake in R1 RCM in the 4th quarter worth approximately $53,000. PrairieView Partners LLC bought a new position in R1 RCM in the 4th quarter worth approximately $107,000. PNC Financial Services Group Inc. increased its position in R1 RCM by 89.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 4,953 shares of the healthcare provider’s stock worth $109,000 after buying an additional 2,339 shares during the period. Advisor Group Holdings Inc. increased its position in R1 RCM by 8.3% in the 3rd quarter. Advisor Group Holdings Inc. now owns 5,723 shares of the healthcare provider’s stock worth $128,000 after buying an additional 439 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in R1 RCM in the 4th quarter worth approximately $168,000. Hedge funds and other institutional investors own 41.53% of the company’s stock.

About R1 RCM (Get Rating)

R1 RCM Inc provides revenue cycle management (RCM) for healthcare providers in the United States. The company offers end-to-end RCM services to manage their revenue cycle operations that encompass patient registration, insurance and benefit verification, medical treatment documentation and coding, bill preparation, and collections from patients and payers.

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