R1 RCM (NASDAQ:RCM) Given New $14.30 Price Target at Truist Financial

R1 RCM (NASDAQ:RCM) had its price target cut by Truist Financial from $16.00 to $14.30 in a report published on Thursday morning, Benzinga reports. They currently have a hold rating on the healthcare provider’s stock.

Other equities research analysts also recently issued research reports about the company. Cantor Fitzgerald downgraded R1 RCM from a strong-buy rating to a hold rating in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft boosted their price target on R1 RCM from $14.00 to $16.00 and gave the company a hold rating in a research report on Tuesday, July 9th. Robert W. Baird reissued an outperform rating and set a $18.00 price target on shares of R1 RCM in a research report on Tuesday, July 2nd. SVB Leerink downgraded R1 RCM from an outperform rating to a market perform rating and decreased their target price for the stock from $17.00 to $14.30 in a research report on Thursday, August 1st. Finally, Canaccord Genuity Group reaffirmed a buy rating and issued a $15.00 target price on shares of R1 RCM in a research report on Monday, July 22nd. Thirteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $15.79.

R1 RCM Stock Performance

NASDAQ RCM opened at $13.99 on Thursday. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of -174.88 and a beta of 0.85. The business has a fifty day moving average of $12.77 and a 200-day moving average of $12.47. R1 RCM has a fifty-two week low of $8.87 and a fifty-two week high of $18.22. 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 released its earnings results on Wednesday, August 7th. The healthcare provider reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.03. The firm had revenue of $627.90 million during the quarter, compared to analyst estimates of $633.10 million. R1 RCM had a negative return on equity of 1.16% and a negative net margin of 1.39%. The firm’s revenue was up 12.0% compared to the same quarter last year. As a group, analysts predict that R1 RCM will post -0.2 earnings per share for the current fiscal year.

Institutional Trading of R1 RCM

Institutional investors and hedge funds have recently bought and sold shares of the company. abrdn plc acquired a new stake in R1 RCM during the fourth quarter valued at approximately $3,772,000. First Light Asset Management LLC acquired a new stake in shares of R1 RCM during the 4th quarter worth approximately $8,625,000. Gabelli Funds LLC acquired a new stake in shares of R1 RCM during the 1st quarter worth approximately $2,114,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of R1 RCM by 76.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 396,830 shares of the healthcare provider’s stock worth $5,111,000 after purchasing an additional 171,400 shares during the period. Finally, Aigen Investment Management LP acquired a new stake in shares of R1 RCM during the 4th quarter worth approximately $758,000. 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.