Royal Bank of Canada Reaffirms “Outperform” Rating for R1 RCM (NASDAQ:RCM)

Royal Bank of Canada reaffirmed their outperform rating on shares of R1 RCM (NASDAQ:RCM) in a report published on Tuesday morning, Benzinga reports. The brokerage currently has a $19.00 price objective on the healthcare provider’s stock.

Several other research analysts also recently weighed in on the stock. Evercore ISI reissued an in-line rating and issued a $16.00 target price (up previously from $12.00) on shares of R1 RCM in a research note on Wednesday, February 28th. Truist Financial reissued a hold rating and set a $16.00 price objective on shares of R1 RCM in a research note on Monday, April 1st. KeyCorp reaffirmed a sector weight rating on shares of R1 RCM in a research note on Wednesday, April 10th. Guggenheim reduced their price target on R1 RCM from $17.00 to $15.00 and set a buy rating on the stock in a research note on Friday, April 5th. Finally, SVB Leerink assumed coverage on R1 RCM in a research report on Monday, February 26th. They issued an outperform rating and a $14.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $16.31.

R1 RCM Trading Up 4.4 %

Shares of R1 RCM stock opened at $12.54 on Tuesday. The company has a 50-day moving average of $12.40 and a two-hundred day moving average of $11.73. R1 RCM has a 12-month low of $8.87 and a 12-month high of $18.70. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.78. The stock has a market cap of $5.28 billion, a PE ratio of -157.50 and a beta of 0.86.

R1 RCM (NASDAQ:RCM) last posted its earnings results on Wednesday, May 8th. The healthcare provider reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.03). The firm had revenue of $603.90 million during the quarter, compared to analyst estimates of $612.88 million. R1 RCM had a negative net margin of 1.39% and a negative return on equity of 1.16%. R1 RCM’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, research analysts anticipate that R1 RCM will post -0.18 EPS for the current fiscal year.

Institutional Investors Weigh In On R1 RCM

A number of hedge funds have recently bought and sold shares of the business. Advisors Asset Management Inc. acquired a new position in R1 RCM during the 1st quarter worth $27,000. Headlands Technologies LLC bought a new stake in R1 RCM in the third quarter valued at about $36,000. ANTIPODES PARTNERS Ltd raised its stake in R1 RCM by 429.5% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 5,623 shares of the healthcare provider’s stock valued at $59,000 after buying an additional 4,561 shares in the last quarter. Salem Investment Counselors Inc. acquired a new stake in R1 RCM during the fourth quarter valued at approximately $61,000. Finally, Van ECK Associates Corp lifted its holdings in R1 RCM by 20.5% during the 4th 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 last quarter. 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.