Morgan Stanley Lowers R1 RCM (NASDAQ:RCM) to Equal Weight

Morgan Stanley cut shares of R1 RCM (NASDAQ:RCM) from an overweight rating to an equal weight rating in a report published on Thursday morning, Marketbeat Ratings reports.

Other equities research analysts have also issued reports about the stock. KeyCorp restated a sector weight rating on shares of R1 RCM in a report on Wednesday, April 10th. Cantor Fitzgerald lowered shares of R1 RCM from a strong-buy rating to a hold rating in a report on Friday, August 2nd. Robert W. Baird restated an outperform rating and set a $18.00 price objective on shares of R1 RCM in a report on Tuesday, July 2nd. SVB Leerink lowered shares of R1 RCM from an outperform rating to a market perform rating and dropped their price objective for the stock from $17.00 to $14.30 in a report on Thursday, August 1st. Finally, Leerink Partnrs lowered shares of R1 RCM from a strong-buy rating to a hold rating in a research note on Thursday, August 1st. Thirteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Hold and a consensus target price of $15.79.

R1 RCM Trading Up 0.1 %

Shares of NASDAQ RCM opened at $13.99 on Thursday. The company’s fifty day moving average is $12.77 and its 200-day moving average is $12.47. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of -174.88 and a beta of 0.85. R1 RCM has a twelve month low of $8.87 and a twelve month high of $18.22. 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 (NASDAQ:RCM) last issued its quarterly earnings data on Wednesday, August 7th. The healthcare provider reported ($0.02) EPS for the quarter, topping 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 business had revenue of $627.90 million for the quarter, compared to analyst estimates of $633.10 million. The firm’s revenue was up 12.0% on a year-over-year basis. Equities research analysts predict that R1 RCM will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Retirement Systems of Alabama boosted its holdings in shares of R1 RCM by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 247,476 shares of the healthcare provider’s stock worth $3,187,000 after buying an additional 856 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of R1 RCM by 4.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 19,601 shares of the healthcare provider’s stock worth $207,000 after buying an additional 908 shares during the period. Arizona State Retirement System boosted its holdings in R1 RCM by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 47,063 shares of the healthcare provider’s stock valued at $591,000 after purchasing an additional 969 shares during the period. Van ECK Associates Corp boosted its holdings in R1 RCM by 20.5% in the 4th quarter. Van ECK Associates Corp now owns 6,141 shares of the healthcare provider’s stock valued at $65,000 after purchasing an additional 1,044 shares during the period. Finally, QRG Capital Management Inc. boosted its holdings in R1 RCM by 10.6% in the 2nd quarter. QRG Capital Management Inc. now owns 11,307 shares of the healthcare provider’s stock valued at $142,000 after purchasing an additional 1,080 shares during the period. 61.10% of the stock is currently 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.