Cowen reissued their in-line rating on shares of R1 RCM (NASDAQ:RCM) in a research note published on Monday, March 12th. Cowen currently has a $10.00 price objective on the financial services provider’s stock, up from their prior price objective of $5.00.
Several other research firms also recently weighed in on RCM. Zacks Investment Research upgraded R1 RCM from a sell rating to a hold rating in a research report on Thursday, March 1st. BidaskClub upgraded R1 RCM from a buy rating to a strong-buy rating in a research note on Saturday, March 10th. Finally, Robert W. Baird restated a hold rating and set a $7.00 price target on shares of R1 RCM in a research note on Monday, February 26th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $7.50.
RCM traded down $0.07 during trading on Monday, reaching $7.10. 295,781 shares of the company traded hands, compared to its average volume of 363,106. R1 RCM has a 12-month low of $3.05 and a 12-month high of $7.99. The firm has a market cap of $744.08, a P/E ratio of -16.30 and a beta of -0.75.
Several hedge funds have recently modified their holdings of the company. Schwab Charles Investment Management Inc. grew its stake in shares of R1 RCM by 4.9% during the third quarter. Schwab Charles Investment Management Inc. now owns 334,108 shares of the financial services provider’s stock worth $1,240,000 after acquiring an additional 15,740 shares during the last quarter. Citadel Advisors LLC purchased a new stake in shares of R1 RCM during the fourth quarter worth about $112,000. Wells Fargo & Company MN grew its stake in shares of R1 RCM by 43.2% during the third quarter. Wells Fargo & Company MN now owns 109,067 shares of the financial services provider’s stock worth $405,000 after acquiring an additional 32,907 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of R1 RCM by 13.1% during the third quarter. Bank of New York Mellon Corp now owns 317,302 shares of the financial services provider’s stock worth $1,178,000 after acquiring an additional 36,847 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of R1 RCM during the fourth quarter worth about $166,000. Institutional investors and hedge funds own 49.27% of the company’s stock.
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R1 RCM Company Profile
R1 RCM Inc is a provider of revenue cycle management (RCM) and physician advisory services (PAS) to healthcare providers. The Company is engaged in providing management services of revenue cycle operations for the United States-based hospitals and other medical services providers. Its primary service offering consists of end-to-end RCM, which the Company deploys through a co-managed relationship or an operating partner relationship.
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