In a report released yesterday, Steven Halper from Cantor Fitzgerald reiterated a Buy rating on R1 RCM Inc (RCM), with a price target of $13. The company’s shares closed yesterday at $10.56.
Halper wrote:
“. We reiterate our Overweight rating on RCM shares and maintain our 12-mo. PT of $13. We recently attended a comprehensive webinar hosted by R1 RCM, titled “Intelligent Driving a New Level of Revenue Cycle Performance”. During the session, we were provided a background on automation followed by a more detailed view into how R1 is using automation to drive performance for its provider clients. We continue to believe there is significant opportunity for automation to generate value for providers. R1 has an impressive digital offering, which we believe provides a competitive edge. We believe these efforts should drive solid top-line growth and margin expansion long term.”
According to TipRanks.com, Halper is a 5-star analyst with an average return of 16.7% and a 60.0% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Tivity Health Inc, and Hms Holdings Corp.
Currently, the analyst consensus on R1 RCM Inc is a Moderate Buy with an average price target of $12.50.
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The company has a one-year high of $11.32 and a one-year low of $7.10. Currently, R1 RCM Inc has an average volume of 935.6K.
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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.
