R1 RCM (NASDAQ:RCM) Rating Reiterated by Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their buy rating on shares of R1 RCM (NASDAQ:RCM) in a research report sent to investors on Monday, Benzinga reports. They currently have a $15.00 price target on the healthcare provider’s stock.

A number of other equities analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of R1 RCM from $14.00 to $16.00 and gave the stock a hold rating in a research note on Tuesday, July 9th. Truist Financial reissued a hold rating and issued a $16.00 price target on shares of R1 RCM in a research note on Monday, April 1st. Guggenheim reduced their price target on shares of R1 RCM from $17.00 to $15.00 and set a buy rating on the stock in a research note on Friday, April 5th. Royal Bank of Canada reissued an outperform rating and issued a $19.00 price target on shares of R1 RCM in a research note on Friday, June 28th. Finally, KeyCorp reissued a sector weight rating on shares of R1 RCM in a research note on Wednesday, April 10th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $16.00.

R1 RCM Price Performance

Shares of RCM stock opened at $12.92 on Monday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.79 and a quick ratio of 1.79. The firm’s 50-day moving average is $12.54 and its two-hundred day moving average is $12.14. R1 RCM has a 12 month low of $8.87 and a 12 month high of $18.53. The company has a market capitalization of $5.44 billion, a PE ratio of -161.50 and a beta of 0.85.

R1 RCM (NASDAQ:RCM) last issued its earnings results on Wednesday, May 8th. The healthcare provider reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). R1 RCM had a negative return on equity of 1.16% and a negative net margin of 1.39%. The firm had revenue of $603.90 million for the quarter, compared to analysts’ expectations of $612.88 million. The firm’s revenue was up 10.7% compared to the same quarter last year. Analysts predict that R1 RCM will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RCM. Advisors Asset Management Inc. acquired a new position in shares of R1 RCM in the first quarter valued at approximately $27,000. ANTIPODES PARTNERS Ltd grew its holdings in R1 RCM by 429.5% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 5,623 shares of the healthcare provider’s stock worth $59,000 after acquiring an additional 4,561 shares in the last quarter. Salem Investment Counselors Inc. acquired a new position in R1 RCM during the 4th quarter worth approximately $61,000. Van ECK Associates Corp grew its holdings in R1 RCM by 20.5% during the 4th quarter. Van ECK Associates Corp now owns 6,141 shares of the healthcare provider’s stock worth $65,000 after acquiring an additional 1,044 shares in the last quarter. Finally, QRG Capital Management Inc. acquired a new position in R1 RCM during the 1st quarter worth approximately $132,000. Institutional investors and hedge funds own 61.10% of the company’s stock.

R1 RCM Company Profile

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.