R1 RCM price target lowered to $19 from $23.50 at BofA

BofA lowered the firm’s price target on R1 RCM (RCM) to $19 from $23.50 and keeps a Buy rating on the shares following Q3 results that came in above the firm’s and consensus expectations. While the combination of the EBITDA guidance reiteration implying a sequential guide down, the loss of Pediatrix Medical (MD) as a customer and the pushing out of the $4B on new NPR are all weighing on investor sentiment, the firm views the stock weakness as overly discounting the long-term EBITDA opportunity, the analyst tells investors.