Zacks Investment Research upgraded shares of R1 RCM (NASDAQ:RCM) from a hold rating to a buy rating in a report published on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $14.00 target price on the financial services provider’s stock.

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 also recently issued research reports about the company. Cantor Fitzgerald set a $9.00 price objective on Evofem Biosciences and gave the company a buy rating in a research report on Friday, April 12th. BidaskClub raised Misonix from a buy rating to a strong-buy rating in a research report on Wednesday, July 3rd. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $14.80.

RCM stock traded down $0.03 during trading on Wednesday, reaching $12.84. 624,490 shares of the company traded hands, compared to its average volume of 979,157. R1 RCM has a 12 month low of $7.10 and a 12 month high of $13.08. The company’s 50 day moving average price is $12.10. The company has a market capitalization of $1.43 billion, a P/E ratio of -40.13 and a beta of 0.07. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 118.26.

R1 RCM (NASDAQ:RCM) last issued its quarterly earnings data on Thursday, May 9th. The financial services provider reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. R1 RCM had a negative return on equity of 118.28% and a negative net margin of 2.19%. The company had revenue of $275.90 million for the quarter, compared to the consensus estimate of $266.37 million. During the same quarter last year, the company earned ($0.26) earnings per share. The firm’s revenue for the quarter was up 87.3% compared to the same quarter last year. Equities research analysts expect that R1 RCM will post 0.13 earnings per share for the current fiscal year.

In related news, Director Charles J. Ditkoff sold 4,099 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $11.72, for a total transaction of $48,040.28. Following the sale, the director now owns 4,099 shares of the company’s stock, valued at $48,040.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 60.50% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of RCM. Rhumbline Advisers boosted its holdings in R1 RCM by 48.3% in the fourth quarter. Rhumbline Advisers now owns 135,458 shares of the financial services provider’s stock worth $1,077,000 after acquiring an additional 44,144 shares in the last quarter. Prudential Financial Inc. boosted its holdings in R1 RCM by 104.7% in the fourth quarter. Prudential Financial Inc. now owns 352,570 shares of the financial services provider’s stock worth $2,782,000 after acquiring an additional 180,360 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in R1 RCM by 64.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,463 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 2,926 shares in the last quarter. California Public Employees Retirement System boosted its holdings in R1 RCM by 39.7% in the fourth quarter. California Public Employees Retirement System now owns 175,799 shares of the financial services provider’s stock worth $1,398,000 after acquiring an additional 50,000 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in R1 RCM by 4.6% in the fourth quarter. BlackRock Inc. now owns 7,953,044 shares of the financial services provider’s stock worth $63,227,000 after acquiring an additional 349,052 shares in the last quarter. 69.69% of the stock is owned by institutional investors and hedge funds.

R1 RCM Company Profile

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

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