R1 RCM (NASDAQ:RCM) Stock Rating Reaffirmed by Royal Bank of Canada

R1 RCM (NASDAQ:RCM)‘s stock had its “outperform” rating reiterated by stock analysts at Royal Bank of Canada in a note issued to investors on Friday, Benzinga reports. They currently have a $19.00 price objective on the healthcare provider’s stock. Royal Bank of Canada’s target price points to a potential upside of 51.27% from the company’s previous close.

Other analysts also recently issued research reports about the company. Citigroup upgraded R1 RCM from a “neutral” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Wednesday, March 20th. Canaccord Genuity Group cut their price objective on R1 RCM from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Truist Financial reissued a “hold” rating and set a $16.00 price objective on shares of R1 RCM in a research report on Monday, April 1st. KeyCorp reaffirmed a “sector weight” rating on shares of R1 RCM in a report on Wednesday, April 10th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $17.00 price target on shares of R1 RCM in a report on Tuesday, March 26th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.83.

R1 RCM Stock Performance

Shares of RCM stock opened at $12.56 on Friday. R1 RCM has a 1-year low of $8.87 and a 1-year 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 company has a market capitalization of $5.29 billion, a price-to-earnings ratio of -157.00 and a beta of 0.86. The stock’s fifty day simple moving average is $12.43 and its 200-day simple moving average is $11.87.

R1 RCM (NASDAQ:RCM) last issued 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). R1 RCM had a negative net margin of 1.39% and a negative return on equity of 1.16%. The firm had revenue of $603.90 million during the quarter, compared to analysts’ expectations of $612.88 million. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, sell-side analysts predict that R1 RCM will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On R1 RCM

A number of large investors have recently bought and sold shares of the business. Boston Partners grew its position in R1 RCM by 4,976.6% during the 1st quarter. Boston Partners now owns 2,570,371 shares of the healthcare provider’s stock worth $32,784,000 after acquiring an additional 2,519,739 shares during the last quarter. Zimmer Partners LP bought a new position in R1 RCM in the 1st quarter valued at $3,398,000. First Light Asset Management LLC boosted its position in 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 last quarter. Price T Rowe Associates Inc. MD boosted its position in R1 RCM by 5.5% in the 1st 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 last quarter. Finally, BOKF NA bought a new position in R1 RCM in the 1st quarter valued at $1,189,000. 61.10% of the stock is currently owned by institutional investors.

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.