R1 RCM (NASDAQ:RCM) Sees Large Volume Increase

R1 RCM Inc. (NASDAQ:RCM) saw an uptick in trading volume on Monday . 7,752,385 shares traded hands during mid-day trading, an increase of 110% from the previous session’s volume of 3,695,414 shares.The stock last traded at $13.95 and had previously closed at $14.05.

Analyst Ratings Changes

Several research firms have recently weighed in on RCM. Stephens cut shares of R1 RCM from an “overweight” rating to an “equal weight” rating in a research note on Thursday. SVB Leerink cut shares of R1 RCM from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $17.00 to $14.30 in a research report on Thursday. KeyCorp reaffirmed a “sector weight” rating on shares of R1 RCM in a research report on Wednesday, April 10th. Morgan Stanley reiterated an “overweight” rating and set a $17.00 target price on shares of R1 RCM in a report on Monday, July 8th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of R1 RCM from $14.00 to $16.00 and gave the stock a “hold” rating in a report on Tuesday, July 9th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $15.91.

R1 RCM Trading Down 0.7 %

The company has a debt-to-equity ratio of 0.78, a current ratio of 1.79 and a quick ratio of 1.79. The company has a market cap of $5.88 billion, a price-to-earnings ratio of -174.38 and a beta of 0.85. The business’s 50-day simple moving average is $12.66 and its 200-day simple moving average is $12.34.

R1 RCM (NASDAQ:RCM) last announced 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). The business had revenue of $603.90 million for the quarter, compared to analyst estimates of $612.88 million. R1 RCM had a negative return on equity of 1.16% and a negative net margin of 1.39%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. Research analysts predict that R1 RCM Inc. will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On R1 RCM

A number of institutional investors have recently bought and sold shares of RCM. Advisors Asset Management Inc. purchased a new stake in R1 RCM during the first quarter worth approximately $27,000. Van ECK Associates Corp grew its stake in R1 RCM by 20.5% during the fourth quarter. Van ECK Associates Corp now owns 6,141 shares of the healthcare provider’s stock worth $65,000 after buying an additional 1,044 shares during the period. ANTIPODES PARTNERS Ltd purchased a new position in shares of R1 RCM in the second quarter valued at $86,000. QRG Capital Management Inc. purchased a new position in shares of R1 RCM in the first quarter valued at $132,000. Finally, Caas Capital Management LP purchased a new position in shares of R1 RCM in the fourth quarter valued at $148,000. 61.10% of the stock is currently owned by hedge funds and other institutional investors.

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.