Cantor Fitzgerald Reiterates “Overweight” Rating for R1 RCM (NASDAQ:RCM)

Cantor Fitzgerald reissued their overweight rating on shares of R1 RCM (NASDAQ:RCM) in a research report report published on Tuesday, Benzinga reports. The firm currently has a $20.00 target price on the healthcare provider’s stock.

A number of other equities analysts have also recently issued reports on RCM. Citigroup raised R1 RCM from a neutral rating to a buy rating and set a $16.00 target price for the company in a report on Wednesday, March 20th. Canaccord Genuity Group dropped their target price on R1 RCM from $16.00 to $15.00 and set a buy rating for the company in a report on Thursday, May 9th. Guggenheim dropped their target price on R1 RCM from $17.00 to $15.00 and set a buy rating for the company in a report on Friday, April 5th. Morgan Stanley reissued an overweight rating and issued a $17.00 target price on shares of R1 RCM in a report on Tuesday, March 26th. Finally, Royal Bank of Canada reissued an outperform rating and issued a $19.00 target price on shares of R1 RCM in a report on Friday, June 28th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $16.00.

R1 RCM Price Performance

Shares of NASDAQ:RCM opened at $10.90 on Tuesday. The business has a 50 day moving average price of $12.42 and a 200 day moving average price of $11.90. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.78. R1 RCM has a twelve month low of $8.87 and a twelve month high of $18.70. The company has a market cap of $4.59 billion, a price-to-earnings ratio of -136.25 and a beta of 0.85.

R1 RCM (NASDAQ:RCM) last announced its quarterly earnings data on Wednesday, May 8th. The healthcare provider reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). R1 RCM had a negative return on equity of 1.16% and a negative net margin of 1.39%. The firm had revenue of $603.90 million during the quarter, compared to the consensus estimate of $612.88 million. The company’s quarterly revenue was up 10.7% on a year-over-year basis. Research analysts predict that R1 RCM will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On R1 RCM

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mariner LLC lifted its holdings in R1 RCM by 10.6% during the third quarter. Mariner LLC now owns 29,508 shares of the healthcare provider’s stock worth $445,000 after acquiring an additional 2,836 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of R1 RCM by 17.8% in the third quarter. Northern Trust Corp now owns 1,515,507 shares of the healthcare provider’s stock valued at $22,839,000 after purchasing an additional 229,395 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of R1 RCM by 419.2% in the third quarter. Tower Research Capital LLC TRC now owns 39,309 shares of the healthcare provider’s stock valued at $592,000 after purchasing an additional 31,738 shares in the last quarter. Teza Capital Management LLC bought a new stake in shares of R1 RCM in the third quarter valued at about $449,000. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in shares of R1 RCM by 31.7% in the third quarter. Schonfeld Strategic Advisors LLC now owns 47,600 shares of the healthcare provider’s stock valued at $717,000 after purchasing an additional 11,465 shares in the last quarter. 61.10% of the stock is owned by institutional investors and hedge funds.

R1 RCM Company Profile

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.