R1 RCM (NASDAQ:RCM) Shares Gap Up to $12.88

Shares of R1 RCM Inc. (NASDAQ:RCM) gapped up prior to trading on Thursday . The stock had previously closed at $12.88, but opened at $14.05. R1 RCM shares last traded at $14.01, with a volume of 31,546,716 shares.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on RCM shares. Royal Bank of Canada reiterated an “outperform” rating and set a $19.00 target price on shares of R1 RCM in a research report on Friday, June 28th. Guggenheim lowered their target price on R1 RCM from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Jefferies Financial Group downgraded R1 RCM from a “buy” rating to a “hold” rating in a research report on Thursday. Morgan Stanley reissued an “overweight” rating and set a $17.00 price target on shares of R1 RCM in a report on Monday, July 8th. Finally, KeyCorp reissued a “sector weight” rating on shares of R1 RCM in a report on Wednesday, April 10th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $16.02.

R1 RCM Stock Up 8.5 %

The company has a 50-day simple moving average of $12.59 and a 200-day simple moving average of $12.25. The firm has a market cap of $5.89 billion, a PE ratio of -175.25 and a beta of 0.85. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.79 and a quick ratio of 1.79.

R1 RCM (NASDAQ:RCM) last announced its quarterly 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 company’s revenue for the quarter was up 10.7% compared to the same quarter last year. Analysts expect that R1 RCM Inc. will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On R1 RCM

A number of large investors have recently made changes to their positions in the business. Advisors Asset Management Inc. acquired a new position in shares of R1 RCM in the 1st quarter valued at $27,000. ANTIPODES PARTNERS Ltd boosted its holdings in R1 RCM by 429.5% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 5,623 shares of the healthcare provider’s stock valued at $59,000 after purchasing an additional 4,561 shares during the last quarter. Van ECK Associates Corp boosted its holdings in R1 RCM by 20.5% in the fourth quarter. Van ECK Associates Corp now owns 6,141 shares of the healthcare provider’s stock valued at $65,000 after purchasing an additional 1,044 shares during the last quarter. QRG Capital Management Inc. purchased a new stake in shares of R1 RCM during the 1st quarter worth about $132,000. Finally, Covestor Ltd boosted its stake in shares of R1 RCM by 340.9% during the 1st quarter. Covestor Ltd now owns 13,438 shares of the healthcare provider’s stock worth $172,000 after acquiring an additional 10,390 shares in the last quarter. 61.10% of the stock is owned by institutional investors and hedge funds.

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.