JPMorgan Chase & Co. Initiates Coverage on R1 RCM (NASDAQ:RCM)

Equities research analysts at JPMorgan Chase & Co. started coverage on shares of R1 RCM (NASDAQ:RCM – Get Rating) in a research report issued to clients and investors on Monday, The Fly reports. The firm set an “overweight” rating on the healthcare provider’s stock.

Several other research firms also recently weighed in on RCM. TheStreet raised R1 RCM from a “d” rating to a “c” rating in a report on Monday, May 9th. Guggenheim started coverage on R1 RCM in a research note on Wednesday, April 13th. They set a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft reduced their price objective on R1 RCM from $28.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, June 29th. Finally, Barclays reaffirmed an “overweight” rating and set a $29.00 price objective on shares of R1 RCM in a research note on Wednesday, June 29th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.33.

R1 RCM Stock Up 3.9 %

R1 RCM stock opened at $26.24 on Monday. R1 RCM has a fifty-two week low of $18.71 and a fifty-two week high of $27.86. The company has a debt-to-equity ratio of 2.06, a quick ratio of 1.54 and a current ratio of 1.54. The company has a market capitalization of $7.34 billion, a P/E ratio of 84.65, a PEG ratio of 2.84 and a beta of 0.91. The stock has a 50-day simple moving average of $22.04 and a 200-day simple moving average of $23.59.

R1 RCM (NASDAQ:RCM – Get Rating) last posted its earnings results on Monday, May 9th. The healthcare provider reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). R1 RCM had a net margin of 6.64% and a return on equity of 29.44%. The firm had revenue of $385.70 million during the quarter, compared to analysts’ expectations of $384.18 million. During the same period in the previous year, the firm posted ($2.37) earnings per share. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. Equities research analysts expect that R1 RCM will post 0.49 earnings per share for the current year.

Institutional Investors Weigh In On R1 RCM

Institutional investors and hedge funds have recently modified their holdings of the company. Twin Tree Management LP acquired a new stake in shares of R1 RCM in the 1st quarter worth approximately $28,000. Cordasco Financial Network acquired a new stake in shares of R1 RCM in the 1st quarter worth approximately $36,000. Point72 Hong Kong Ltd acquired a new stake in R1 RCM during the 4th quarter valued at $53,000. Strs Ohio acquired a new stake in R1 RCM during the 1st quarter valued at $69,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in R1 RCM during the 1st quarter valued at $129,000. Institutional investors and hedge funds own 41.97% of the company’s stock.

About R1 RCM

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R1 RCM Inc provides technology-driven solutions that transform the patient experience and financial performance of hospitals, health systems, and medical groups. It offers end-to-end revenue cycle management (RCM) services, which address the spectrum of revenue cycle challenges faced by healthcare providers.

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