R1 RCM (NASDAQ:RCM) Shares Gap Down to $12.56

R1 RCM Inc. (NASDAQ:RCM) shares gapped down prior to trading on Tuesday . The stock had previously closed at $12.56, but opened at $11.24. R1 RCM shares last traded at $10.75, with a volume of 2,304,497 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RCM. Morgan Stanley reissued an “overweight” rating and issued a $17.00 price objective on shares of R1 RCM in a research note on Tuesday, March 26th. Canaccord Genuity Group lowered their price target on shares of R1 RCM from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Guggenheim lowered their price target on shares of R1 RCM from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. KeyCorp reaffirmed a “sector weight” rating on shares of R1 RCM in a research note on Wednesday, April 10th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $20.00 price target on shares of R1 RCM in a research note on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.83.

R1 RCM Stock Performance

The company has a market capitalization of $4.53 billion, a PE ratio of -134.63 and a beta of 0.85. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.79 and a current ratio of 1.79. The stock’s fifty day simple moving average is $12.44 and its 200-day simple moving average is $11.90.

R1 RCM (NASDAQ:RCM) last released 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 firm had revenue of $603.90 million during the quarter, compared to analysts’ expectations of $612.88 million. R1 RCM had a negative net margin of 1.39% and a negative return on equity of 1.16%. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, equities analysts predict that R1 RCM Inc. will post -0.17 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of R1 RCM by 5.6% during the 3rd quarter. Vanguard Group Inc. now owns 17,940,792 shares of the healthcare provider’s stock worth $270,368,000 after acquiring an additional 947,310 shares during the period. Capital International Investors increased its position in R1 RCM by 0.8% during the 4th quarter. Capital International Investors now owns 8,343,199 shares of the healthcare provider’s stock worth $88,188,000 after purchasing an additional 67,485 shares in the last quarter. Voss Capital LLC increased its position in R1 RCM by 553.9% during the 4th quarter. Voss Capital LLC now owns 7,125,000 shares of the healthcare provider’s stock worth $75,311,000 after purchasing an additional 6,035,340 shares in the last quarter. Polar Capital Holdings Plc increased its position in R1 RCM by 0.5% during the 3rd quarter. Polar Capital Holdings Plc now owns 4,696,412 shares of the healthcare provider’s stock worth $70,775,000 after purchasing an additional 22,550 shares in the last quarter. Finally, Norges Bank acquired a new stake in R1 RCM during the 4th quarter worth approximately $42,539,000. 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.