R1 RCM (NASDAQ:RCM) Sees Unusually-High Trading Volume – Here’s Why

Shares of R1 RCM Inc. (NASDAQ:RCM) saw unusually-high trading volume on Thursday . Approximately 5,363,333 shares changed hands during mid-day trading, an increase of 56% from the previous session’s volume of 3,435,870 shares.The stock last traded at $14.31 and had previously closed at $14.30.

Analysts Set New Price Targets

RCM has been the subject of a number of recent research reports. Truist Financial lowered their price objective on R1 RCM from $16.00 to $14.30 and set a “hold” rating for the company in a research note on Thursday, August 8th. Stephens cut R1 RCM from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 1st. TD Cowen reiterated a “hold” rating and issued a $14.30 price objective (down from $20.00) on shares of R1 RCM in a report on Monday, August 5th. Leerink Partners cut shares of R1 RCM from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $17.00 to $14.30 in a research note on Thursday, August 1st. Finally, Leerink Partnrs downgraded shares of R1 RCM from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. Thirteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, R1 RCM presently has an average rating of “Hold” and a consensus price target of $15.41.

R1 RCM Price Performance

The stock has a 50 day simple moving average of $14.20 and a 200-day simple moving average of $13.37. The firm has a market cap of $6.04 billion, a PE ratio of -95.33 and a beta of 0.84. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.76.

R1 RCM (NASDAQ:RCM) last released its earnings results on Tuesday, November 5th. The healthcare provider reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.04). R1 RCM had a negative return on equity of 2.18% and a negative net margin of 2.48%. The business had revenue of $656.80 million for the quarter, compared to analysts’ expectations of $640.93 million. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. Equities analysts anticipate that R1 RCM Inc. will post -0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On R1 RCM

A number of hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of R1 RCM by 4.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,154,888 shares of the healthcare provider’s stock valued at $39,624,000 after buying an additional 136,808 shares in the last quarter. Boston Partners raised its stake in shares of R1 RCM by 4,976.6% in the first quarter. Boston Partners now owns 2,570,371 shares of the healthcare provider’s stock valued at $32,784,000 after acquiring an additional 2,519,739 shares during the period. First Light Asset Management LLC lifted its holdings in shares of R1 RCM by 212.8% in the 1st quarter. First Light Asset Management LLC now owns 2,552,325 shares of the healthcare provider’s stock worth $32,874,000 after acquiring an additional 1,736,346 shares during the last quarter. Sea Cliff Partners Management LP boosted its stake in shares of R1 RCM by 14.3% during the 2nd quarter. Sea Cliff Partners Management LP now owns 2,437,450 shares of the healthcare provider’s stock worth $30,614,000 after purchasing an additional 305,672 shares during the period. Finally, Empyrean Capital Partners LP bought a new position in R1 RCM during the 2nd quarter valued at about $26,376,000. 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.