R1 RCM (RCM) Raised to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of R1 RCM (NASDAQ:RCM) from a sell rating to a hold rating in a report released on Thursday morning.
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. “
A number of other research analysts also recently issued reports on the stock. BidaskClub upgraded shares of R1 RCM from a hold rating to a buy rating in a research note on Thursday, January 11th. Robert W. Baird reiterated a hold rating and issued a $7.00 price target on shares of R1 RCM in a research note on Monday, February 26th.
Institutional investors have recently modified their holdings of the stock. Gilder Gagnon Howe & Co. LLC purchased a new position in R1 RCM in the fourth quarter worth approximately $1,692,000. Vanguard Group Inc. purchased a new position in R1 RCM in the second quarter worth approximately $10,550,000. Paradigm Capital Management Inc. NY lifted its stake in R1 RCM by 14.8% in the third quarter. Paradigm Capital Management Inc. NY now owns 6,967,900 shares of the financial services provider’s stock worth $25,851,000 after acquiring an additional 900,753 shares during the last quarter. Eversept Partners LLC purchased a new position in R1 RCM in the fourth quarter worth approximately $7,241,000. Finally, TIAA CREF Investment Management LLC purchased a new position in R1 RCM in the second quarter worth approximately $1,014,000. Institutional investors own 42.29% of the company’s stock.
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R1 RCM Company Profile
R1 RCM 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. Its primary service offering consists of end-to-end RCM, which the Company deploys through a co-managed relationship or an operating partner relationship.
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