R1 RCM (NASDAQ:RCM) Receives “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of R1 RCM (NASDAQ:RCM) in a report issued on Friday morning, Benzinga reports. They currently have a $19.00 price objective on the healthcare provider’s stock.

A number of other research firms have also recently weighed in on RCM. Cantor Fitzgerald reaffirmed an overweight rating and set a $20.00 price target on shares of R1 RCM in a research note on Wednesday, April 10th. Guggenheim dropped their target price on shares of R1 RCM from $17.00 to $15.00 and set a buy rating for the company in a report on Friday, April 5th. Citigroup raised R1 RCM from a neutral rating to a buy rating and set a $16.00 price target on the stock in a research note on Wednesday, March 20th. Truist Financial restated a hold rating and issued a $16.00 price target on shares of R1 RCM in a report on Monday, April 1st. Finally, Canaccord Genuity Group reduced their price objective on R1 RCM from $16.00 to $15.00 and set a buy rating for the company in a report on Thursday, May 9th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, R1 RCM currently has a consensus rating of Moderate Buy and an average price target of $15.83.

R1 RCM Price Performance

Shares of NASDAQ:RCM opened at $12.56 on Friday. R1 RCM has a 52 week low of $8.87 and a 52 week high of $18.70. The company has a 50-day moving average price of $12.44 and a 200 day moving average price of $11.90. The company has a market cap of $5.29 billion, a P/E ratio of -157.00 and a beta of 0.85. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.78.

R1 RCM (NASDAQ:RCM) last posted its quarterly earnings results on Wednesday, May 8th. The healthcare provider reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.03). R1 RCM had a negative net margin of 1.39% and a negative return on equity of 1.16%. The business had revenue of $603.90 million during the quarter, compared to analyst estimates of $612.88 million. R1 RCM’s quarterly revenue was up 10.7% on a year-over-year basis. Research analysts predict that R1 RCM will post -0.17 earnings per share for the current year.

Institutional Trading of R1 RCM

A number of large investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. purchased a new stake in R1 RCM in the 1st quarter worth approximately $27,000. ANTIPODES PARTNERS Ltd boosted its holdings in shares of R1 RCM by 429.5% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 5,623 shares of the healthcare provider’s stock worth $59,000 after purchasing an additional 4,561 shares during the last quarter. Salem Investment Counselors Inc. purchased a new stake in shares of R1 RCM in the fourth quarter valued at $61,000. Van ECK Associates Corp increased its stake in R1 RCM by 20.5% in the fourth quarter. Van ECK Associates Corp now owns 6,141 shares of the healthcare provider’s stock valued at $65,000 after purchasing an additional 1,044 shares during the last quarter. Finally, QRG Capital Management Inc. purchased a new position in R1 RCM during the first quarter worth about $132,000. Institutional investors and hedge funds own 61.10% of the company’s stock.

R1 RCM Company Profile

R1 RCM Inc provides technology-driven solutions for the financial performance and patient experience of health systems, hospitals, and physician groups. It provides operating partnership/end-to-end solutions, which manages multiple aspects of the revenue cycle to realize financial leverage and revenue improvement for hospital and physician customers.