Cantor Fitzgerald Reiterates “Overweight” Rating for R1 RCM (NASDAQ:RCM)

R1 RCM (NASDAQ:RCM)‘s stock had its “overweight” rating reaffirmed by investment analysts at Cantor Fitzgerald in a report released on Tuesday, Benzinga reports. They presently have a $20.00 target price on the healthcare provider’s stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 79.69% from the company’s current price.

A number of other equities research analysts also recently issued reports on RCM. Morgan Stanley reaffirmed an “overweight” rating and issued a $17.00 price objective on shares of R1 RCM in a research report on Tuesday, March 26th. Royal Bank of Canada reissued an “outperform” rating and set a $19.00 target price on shares of R1 RCM in a research report on Friday, June 28th. Guggenheim reduced their target price on shares of R1 RCM from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, April 5th. KeyCorp reissued a “sector weight” rating on shares of R1 RCM in a research report on Wednesday, April 10th. Finally, Truist Financial reissued a “hold” rating and set a $16.00 target price on shares of R1 RCM in a research report on Monday, April 1st. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.00.

R1 RCM Trading Up 2.1 %

RCM opened at $11.13 on Tuesday. R1 RCM has a fifty-two week low of $8.87 and a fifty-two week high of $18.70. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.79 and a quick ratio of 1.79. The company’s 50-day moving average is $12.41 and its 200 day moving average is $11.89. The firm has a market capitalization of $4.69 billion, a PE ratio of -139.13 and a beta of 0.85.

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

Institutional Trading of R1 RCM

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in R1 RCM by 5.6% in the 3rd quarter. Vanguard Group Inc. now owns 17,940,792 shares of the healthcare provider’s stock worth $270,368,000 after purchasing an additional 947,310 shares in the last quarter. Capital International Investors raised its position in shares of R1 RCM by 0.8% during the 4th quarter. Capital International Investors now owns 8,343,199 shares of the healthcare provider’s stock valued at $88,188,000 after buying an additional 67,485 shares in the last quarter. Voss Capital LLC raised its position in shares of R1 RCM by 553.9% during the 4th quarter. Voss Capital LLC now owns 7,125,000 shares of the healthcare provider’s stock valued at $75,311,000 after buying an additional 6,035,340 shares in the last quarter. Polar Capital Holdings Plc raised its position in shares of 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 valued at $70,775,000 after buying an additional 22,550 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of R1 RCM during the 4th quarter valued at $42,539,000. 61.10% of the stock is currently owned by hedge funds and other 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.