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

Robert W. Baird reissued their outperform rating on shares of R1 RCM (NASDAQ:RCM) in a report published on Tuesday, Benzinga reports. They currently have a $18.00 price objective on the healthcare provider’s stock.

RCM has been the topic of a number of other research reports. Truist Financial reaffirmed a hold rating and set a $16.00 target price on shares of R1 RCM in a research note on Monday, April 1st. Cantor Fitzgerald reissued an overweight rating and issued a $20.00 price objective on shares of R1 RCM in a research note on Tuesday. Citigroup raised R1 RCM from a neutral rating to a buy rating and set a $16.00 price objective on the stock in a research note on Wednesday, March 20th. KeyCorp reissued a sector weight rating on shares of R1 RCM in a research note on Wednesday, April 10th. Finally, Guggenheim dropped their price objective 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. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $16.00.

R1 RCM Price Performance

Shares of R1 RCM stock opened at $11.13 on Tuesday. The stock’s 50-day simple moving average is $12.39 and its 200-day simple moving average is $11.89. R1 RCM has a 52 week low of $8.87 and a 52 week high of $18.70. The company has a market capitalization of $4.69 billion, a price-to-earnings ratio of -139.13 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 earnings results on Wednesday, May 8th. The healthcare provider reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). The firm had revenue of $603.90 million during the quarter, compared to analysts’ expectations of $612.88 million. R1 RCM had a negative return on equity of 1.16% and a negative net margin of 1.39%. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. As a group, analysts expect that R1 RCM will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On R1 RCM

Several institutional investors have recently bought and sold shares of the company. Boston Partners grew its holdings in shares of R1 RCM by 4,976.6% in the first quarter. Boston Partners now owns 2,570,371 shares of the healthcare provider’s stock valued at $32,784,000 after purchasing an additional 2,519,739 shares during the period. Zimmer Partners LP purchased a new stake in shares of R1 RCM in the 1st quarter valued at approximately $3,398,000. First Light Asset Management LLC grew its stake in shares of R1 RCM by 212.8% in the 1st 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 increased its holdings in shares of R1 RCM by 5.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 89,342 shares of the healthcare provider’s stock worth $1,151,000 after buying an additional 4,670 shares during the last quarter. Finally, BOKF NA acquired a new position in R1 RCM in the first quarter valued at approximately $1,189,000. 61.10% of the stock is currently owned by institutional investors and hedge funds.

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.