Analysts Set R1 RCM Inc. (NASDAQ:RCM) Price Target at $15.41

R1 RCM Inc. (NASDAQ:RCM) has been assigned an average recommendation of “Hold” from the eighteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Thirteen investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $15.41.

RCM has been the subject of a number of analyst reports. Morgan Stanley cut R1 RCM from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 8th. Truist Financial decreased their target price on R1 RCM from $16.00 to $14.30 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Jefferies Financial Group lowered shares of R1 RCM from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Canaccord Genuity Group reaffirmed a “buy” rating and set a $15.00 price objective on shares of R1 RCM in a report on Monday, July 22nd. Finally, TD Cowen reissued a “hold” rating and set a $14.30 target price (down previously from $20.00) on shares of R1 RCM in a research note on Monday, August 5th.

R1 RCM Price Performance

NASDAQ:RCM opened at $14.25 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.84 and a quick ratio of 1.84. The company has a 50 day moving average price of $14.16 and a 200-day moving average price of $13.21. R1 RCM has a 1-year low of $8.87 and a 1-year high of $15.12. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of -178.13 and a beta of 0.85.

R1 RCM (NASDAQ:RCM) last released its quarterly earnings data on Wednesday, August 7th. The healthcare provider reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. R1 RCM had a negative net margin of 1.68% and a negative return on equity of 1.44%. The company had revenue of $627.90 million during the quarter, compared to analysts’ expectations of $633.10 million. The company’s revenue was up 12.0% compared to the same quarter last year. Equities research analysts forecast that R1 RCM will post -0.24 EPS for the current year.

Hedge Funds Weigh In On R1 RCM

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. purchased a new position in R1 RCM during the first quarter worth about $27,000. GAMMA Investing LLC raised its position in shares of R1 RCM by 41.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,597 shares of the healthcare provider’s stock valued at $37,000 after buying an additional 759 shares during the period. Allspring Global Investments Holdings LLC grew its position in R1 RCM by 589.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,122 shares of the healthcare provider’s stock worth $44,000 after acquiring an additional 2,669 shares during the period. ANTIPODES PARTNERS Ltd acquired a new stake in R1 RCM during the second quarter worth $86,000. Finally, Values First Advisors Inc. acquired a new position in shares of R1 RCM in the 3rd quarter valued at $88,000. Institutional investors and hedge funds own 61.10% of the company’s stock.

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.