RCM - Medical billing firm R1 RCM hits 52-week low

• R1 RCM Inc. ( NASDAQ: RCM ), a provider of revenue cycle management services to healthcare companies, dropped for the third straight session on Friday to reach a 52-week low on below-average volume. About ~1.4M RCM shares have changed hands, compared to the 65-day average volume of ~1.9M.
• Today's decline followed a bearish view on the Murray, Utah company from Truist Securities, which slashed its price target to a Street low of $25 from $29, citing an uncertain macro environment, rising interest rates, and market volatility.
• However, the analyst Jailendra Singh maintains his Buy rating on the stock, arguing that in the years ahead, the company is expected to realize benefits from a portion of its net patient revenue under contract, which is yet to be rolled out or in the launch/ramp stage.
• RCM stock has 10 Buy ratings and one Hold rating with no Sell ratings on Wall Street.

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