Royal Bank of Canada Reiterates Outperform Rating for R1 RCM (NASDAQ:RCM)

R1 RCM (NASDAQ:RCMGet Free Report)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Royal Bank of Canada in a report released on Tuesday, Benzinga reports. They presently have a $19.00 target price on the healthcare provider’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 51.39% from the company’s current price.

Several other research analysts have also issued reports on the stock. Evercore ISI restated an “in-line” rating and set a $16.00 price target (up previously from $12.00) on shares of R1 RCM in a report on Wednesday, February 28th. KeyCorp reaffirmed a “sector weight” rating on shares of R1 RCM in a research report on Wednesday, April 10th. Guggenheim reduced their price objective 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. SVB Leerink assumed coverage on shares of R1 RCM in a research report on Monday, February 26th. They issued an “outperform” rating and a $14.00 price target for the company. Finally, Truist Financial reissued a “hold” rating and issued a $16.00 price target on shares of R1 RCM in a research report on Monday, April 1st. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.31.

Get Our Latest Stock Analysis on R1 RCM

R1 RCM Stock Down 2.2 %

RCM stock opened at $12.55 on Tuesday. The stock has a market capitalization of $5.29 billion, a P/E ratio of -156.88 and a beta of 0.86. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.78. R1 RCM has a 12 month low of $8.87 and a 12 month high of $18.70. The firm has a 50-day moving average price of $12.43 and a 200-day moving average price of $11.70.

R1 RCM (NASDAQ:RCMGet Free Report) 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). The business had revenue of $603.90 million during the quarter, compared to the consensus estimate 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 was up 10.7% on a year-over-year basis. As a group, equities research analysts anticipate that R1 RCM will post -0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in R1 RCM by 5.6% in the third quarter. Vanguard Group Inc. now owns 17,940,792 shares of the healthcare provider’s stock worth $270,368,000 after buying an additional 947,310 shares in the last quarter. Capital International Investors boosted its stake in R1 RCM by 0.8% in the fourth quarter. Capital International Investors now owns 8,343,199 shares of the healthcare provider’s stock worth $88,188,000 after buying an additional 67,485 shares in the last quarter. Voss Capital LLC boosted its stake in R1 RCM by 553.9% in the fourth quarter. Voss Capital LLC now owns 7,125,000 shares of the healthcare provider’s stock worth $75,311,000 after buying an additional 6,035,340 shares in the last quarter. Invesco Ltd. lifted its position in R1 RCM by 4.4% in the third quarter. Invesco Ltd. now owns 5,120,817 shares of the healthcare provider’s stock valued at $77,171,000 after purchasing an additional 218,100 shares during the last quarter. Finally, Polar Capital Holdings Plc lifted its position in R1 RCM by 0.5% in the third quarter. Polar Capital Holdings Plc now owns 4,696,412 shares of the healthcare provider’s stock valued at $70,775,000 after purchasing an additional 22,550 shares during the last quarter. Hedge funds and other institutional investors own 61.10% of the company’s stock.

R1 RCM Company Profile

(Get Free Report)

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.

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Analyst Recommendations for R1 RCM (NASDAQ:RCM)

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