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R1 RCM (RCM) Gets a Buy Rating from RBC Capital

In a report issued on June 1, Sean Dodge from RBC Capital maintained a Buy rating on R1 RCM (RCMResearch Report), with a price target of $35.00. The company’s shares closed last Friday at $21.74.

According to TipRanks.com, Dodge is a 1-star analyst with an average return of -1.9% and a 45.7% success rate. Dodge covers the Technology sector, focusing on stocks such as Tabula Rasa HealthCare, NextGen Healthcare, and Thorne HealthTech.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for R1 RCM with a $32.50 average price target, implying a 48.5% upside from current levels. In a report issued on May 24, Robert W. Baird also maintained a Buy rating on the stock with a $32.00 price target.

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Based on R1 RCM’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $386 million and net profit of $29.4 million. In comparison, last year the company earned revenue of $343 million and had a net profit of $25.8 million.

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R1 RCM, Inc. engages in the provision of revenue cycle management to healthcare providers. It offers end-to-end, modular revenue cycle, and physician advisory services. The company was founded by Mary Ann Tolan and J. Michael Cline in July 2003 and is headquartered in Chicago, IL.

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