R1 RCM’s (RCM) “Outperform” Rating Reiterated at Robert W. Baird

Robert W. Baird reiterated their outperform rating on shares of R1 RCM (NASDAQ:RCM) in a research report sent to investors on Tuesday, Benzinga reports. They currently have a $18.00 price target on the healthcare provider’s stock.

Other research analysts also recently issued research reports about the stock. Canaccord Genuity Group dropped their target price on shares of R1 RCM from $16.00 to $15.00 and set a buy rating on the stock in a research report on Thursday, May 9th. Cantor Fitzgerald restated an overweight rating and set a $20.00 price objective on shares of R1 RCM in a report on Tuesday. Royal Bank of Canada restated an outperform rating and set a $19.00 price objective on shares of R1 RCM in a report on Friday, June 28th. Truist Financial restated a hold rating and set a $16.00 price objective on shares of R1 RCM in a report on Monday, April 1st. Finally, KeyCorp restated a sector weight rating on shares of R1 RCM in a report on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $16.00.

R1 RCM Stock Down 1.6 %

R1 RCM stock opened at $10.95 on Tuesday. 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 has a 12-month low of $8.87 and a 12-month high of $18.70. The firm’s fifty day moving average is $12.38 and its 200 day moving average is $11.89. The company has a market capitalization of $4.61 billion, a PE ratio of -136.88 and a beta of 0.85.

R1 RCM (NASDAQ:RCM) last released its earnings results on Wednesday, May 8th. The healthcare provider reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $603.90 million for the quarter, compared to analyst estimates of $612.88 million. The company’s revenue was up 10.7% on a year-over-year basis. As a group, sell-side analysts predict that R1 RCM will post -0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On R1 RCM

Several institutional investors have recently added to or reduced their stakes in the stock. Boston Partners grew its position in R1 RCM by 4,976.6% during the first quarter. Boston Partners now owns 2,570,371 shares of the healthcare provider’s stock valued at $32,784,000 after buying an additional 2,519,739 shares during the period. Zimmer Partners LP bought a new position in R1 RCM during the first quarter valued at about $3,398,000. First Light Asset Management LLC grew its position in R1 RCM by 212.8% during the first quarter. First Light Asset Management LLC now owns 2,552,325 shares of the healthcare provider’s stock valued at $32,874,000 after buying an additional 1,736,346 shares during the period. Price T Rowe Associates Inc. MD grew its position in R1 RCM by 5.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 89,342 shares of the healthcare provider’s stock valued at $1,151,000 after buying an additional 4,670 shares during the period. Finally, BOKF NA bought a new position in R1 RCM during the first quarter valued at about $1,189,000. Institutional investors own 61.10% of the company’s stock.

About R1 RCM

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.