R1 RCM’s (RCM) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of R1 RCM (NASDAQ:RCM) in a report released on Friday morning, Benzinga reports. The brokerage currently has a $19.00 target price on the healthcare provider’s stock.

Several other brokerages also recently commented on RCM. Guggenheim lowered 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 note on Friday, April 5th. Citigroup upgraded R1 RCM from a neutral rating to a buy rating and set a $16.00 target price on the stock in a report on Wednesday, March 20th. KeyCorp reaffirmed a sector weight rating on shares of R1 RCM in a research report on Wednesday, April 10th. Morgan Stanley reiterated an overweight rating and issued a $17.00 price objective on shares of R1 RCM in a research report on Tuesday, March 26th. Finally, Canaccord Genuity Group dropped their target price on shares of R1 RCM from $16.00 to $15.00 and set a buy rating on the stock in a report on Thursday, May 9th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $15.83.

R1 RCM Stock Performance

Shares of NASDAQ:RCM opened at $12.56 on Friday. 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 1-year low of $8.87 and a 1-year high of $18.70. The stock has a market capitalization of $5.29 billion, a P/E ratio of -157.00 and a beta of 0.86. The business has a 50-day moving average price of $12.43 and a two-hundred day moving average price of $11.88.

R1 RCM (NASDAQ:RCM) last announced its quarterly earnings data on Wednesday, May 8th. The healthcare provider reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.03). R1 RCM had a negative net margin of 1.39% and a negative return on equity of 1.16%. The business had revenue of $603.90 million during the quarter, compared to analyst estimates of $612.88 million. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. Equities analysts predict that R1 RCM will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On R1 RCM

A number of large investors have recently modified their holdings of RCM. Voss Capital LLC boosted its position in R1 RCM by 553.9% during the fourth quarter. Voss Capital LLC now owns 7,125,000 shares of the healthcare provider’s stock valued at $75,311,000 after purchasing an additional 6,035,340 shares during the last quarter. Norges Bank acquired a new stake in shares of R1 RCM in the 4th quarter valued at approximately $42,539,000. P2 Capital Partners LLC grew its stake in shares of R1 RCM by 70,366.3% in the fourth quarter. P2 Capital Partners LLC now owns 3,535,294 shares of the healthcare provider’s stock valued at $37,368,000 after buying an additional 3,530,277 shares in the last quarter. Boston Partners increased its holdings in R1 RCM by 4,976.6% during the first quarter. Boston Partners now owns 2,570,371 shares of the healthcare provider’s stock worth $32,784,000 after buying an additional 2,519,739 shares during the last quarter. Finally, Sea Cliff Partners Management LP bought a new stake in R1 RCM during the fourth quarter worth $18,459,000. 61.10% of the stock is currently owned by institutional investors and hedge funds.

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.