R1 RCM Inc (RCM) Upgraded to Hold by Zacks Investment Research
R1 RCM Inc (NYSE:RCM) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Wednesday.
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. “
Separately, Robert W. Baird reiterated a “hold” rating and set a $5.00 price objective on shares of R1 RCM in a research note on Thursday, August 24th.
R1 RCM (RCM) traded up 1.0000% during trading on Wednesday, reaching $3.7976. 20,387 shares of the company’s stock were exchanged. R1 RCM has a 52-week low of $2.02 and a 52-week high of $4.37. The firm’s market cap is $398.33 million. The stock’s 50 day moving average price is $3.34 and its 200 day moving average price is $3.75.
R1 RCM (NYSE:RCM) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.07). The company had revenue of $99.40 million during the quarter, compared to the consensus estimate of $91.95 million. R1 RCM had a negative return on equity of 51.77% and a negative net margin of 6.74%. Equities research analysts anticipate that R1 RCM will post ($0.04) EPS for the current fiscal year.
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Large investors have recently made changes to their positions in the stock. AJO LP acquired a new position in R1 RCM during the second quarter valued at approximately $3,090,000. HPM Partners LLC bought a new stake in R1 RCM during the second quarter worth $1,652,000. Spark Investment Management LLC lifted its stake in R1 RCM by 195.4% during the second quarter. Spark Investment Management LLC now owns 379,900 shares of the company’s stock worth $1,424,000 after purchasing an additional 251,300 shares during the last quarter. SLS Management LLC lifted its stake in R1 RCM by 1.8% during the second quarter. SLS Management LLC now owns 631,210 shares of the company’s stock worth $2,367,000 after purchasing an additional 11,300 shares during the last quarter. Finally, New York State Common Retirement Fund bought a new stake in R1 RCM during the second quarter worth $305,000.
About R1 RCM
R1 RCM Inc, formerly Accretive Health, 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.
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