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

Canaccord Genuity Group reiterated their buy rating on shares of R1 RCM (NASDAQ:RCM) in a report released on Monday morning, Benzinga reports. Canaccord Genuity Group currently has a $15.00 target price on the healthcare provider’s stock.

A number of other brokerages also recently issued reports on RCM. Morgan Stanley reiterated an overweight rating and issued a $17.00 price target on shares of R1 RCM in a report on Monday, July 8th. Guggenheim reduced their target price on shares of R1 RCM from $17.00 to $15.00 and set a buy rating on the stock in a report on Friday, April 5th. Truist Financial restated a hold rating and issued a $16.00 target price on shares of R1 RCM in a report on Monday, April 1st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of R1 RCM from $14.00 to $16.00 and gave the stock a hold rating in a report on Tuesday, July 9th. Finally, Cantor Fitzgerald restated an overweight rating and issued a $20.00 target price on shares of R1 RCM in a report on Tuesday, July 2nd. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $16.00.

R1 RCM Stock Down 1.7 %

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 company has a market capitalization of $5.44 billion, a price-to-earnings ratio of -161.50 and a beta of 0.85. The company’s fifty day moving average price is $12.54 and its 200-day moving average price is $12.14. R1 RCM has a one year low of $8.87 and a one year high of $18.53.

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 company 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 quarterly revenue was up 10.7% on a year-over-year basis. Sell-side analysts expect that R1 RCM will post -0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On R1 RCM

Several large investors have recently added to or reduced their stakes in the stock. Retirement Systems of Alabama boosted its position in R1 RCM by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 247,476 shares of the healthcare provider’s stock valued at $3,187,000 after buying an additional 856 shares during the period. PNC Financial Services Group Inc. boosted its position in R1 RCM by 4.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 19,601 shares of the healthcare provider’s stock valued at $207,000 after buying an additional 908 shares during the period. Van ECK Associates Corp boosted its position in R1 RCM by 20.5% in the 4th 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 period. QRG Capital Management Inc. boosted its position in R1 RCM by 10.6% in the 2nd quarter. QRG Capital Management Inc. now owns 11,307 shares of the healthcare provider’s stock valued at $142,000 after buying an additional 1,080 shares during the period. Finally, State of Michigan Retirement System boosted its position in R1 RCM by 2.5% in the 1st quarter. State of Michigan Retirement System now owns 48,401 shares of the healthcare provider’s stock valued at $623,000 after buying an additional 1,200 shares during the period. 61.10% of the stock is owned by hedge funds and other 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.