R1 RCM (NASDAQ:RCM) Earns “Overweight” Rating from Morgan Stanley

Morgan Stanley reaffirmed their overweight rating on shares of R1 RCM (NASDAQ:RCM) in a report released on Monday morning, Benzinga reports. They currently have a $17.00 price objective on the healthcare provider’s stock.

Several other research analysts have also weighed in on RCM. KeyCorp reiterated a sector weight rating on shares of R1 RCM in a report on Wednesday, April 10th. Guggenheim dropped their target price 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. Canaccord Genuity Group dropped their target price on shares of R1 RCM from $16.00 to $15.00 and set a buy rating for the company in a research report on Thursday, May 9th. Royal Bank of Canada reissued an outperform rating and set a $19.00 target price on shares of R1 RCM in a research report on Friday, June 28th. Finally, Truist Financial reissued a hold rating and set a $16.00 target price on shares of R1 RCM in a research report on Monday, April 1st. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, R1 RCM currently has an average rating of Moderate Buy and a consensus target price of $16.00.

R1 RCM Price Performance

NASDAQ:RCM opened at $12.92 on Monday. The firm has a market cap of $5.44 billion, a price-to-earnings ratio of -161.50 and a beta of 0.85. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.78. The company’s 50-day moving average is $12.41 and its two-hundred day moving average is $11.95. R1 RCM has a 12-month low of $8.87 and a 12-month high of $18.70.

R1 RCM (NASDAQ:RCM) last released its 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 business’s revenue for the quarter was up 10.7% on a year-over-year basis. Research analysts expect that R1 RCM will post -0.17 EPS for the current year.

Hedge Funds Weigh In On R1 RCM

Several large investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. bought a new stake in R1 RCM in the first quarter valued at $27,000. ANTIPODES PARTNERS Ltd lifted its stake 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 buying an additional 4,561 shares during the last quarter. Salem Investment Counselors Inc. bought a new stake in R1 RCM in the fourth quarter valued at $61,000. Van ECK Associates Corp lifted its stake 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 buying an additional 1,044 shares during the last quarter. Finally, QRG Capital Management Inc. bought a new stake in R1 RCM in the first quarter valued at $132,000. 61.10% of the stock is currently owned by institutional investors.

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.