R1 RCM (NASDAQ:RCM) Stock Rating Reaffirmed by Morgan Stanley

Morgan Stanley restated their overweight rating on shares of R1 RCM (NASDAQ:RCM) in a research note released on Monday, Benzinga reports. The firm currently has a $17.00 price target on the healthcare provider’s stock.

A number of other analysts have also recently issued reports on the company. Robert W. Baird reissued an outperform rating and set a $18.00 price objective on shares of R1 RCM in a report on Tuesday, July 2nd. Cantor Fitzgerald reaffirmed an overweight rating and issued a $20.00 price target on shares of R1 RCM in a report on Tuesday, July 2nd. Royal Bank of Canada reaffirmed an outperform rating and issued a $19.00 price target on shares of R1 RCM in a report on Friday, June 28th. Canaccord Genuity Group lowered their price target on R1 RCM from $16.00 to $15.00 and set a buy rating on the stock in a report on Thursday, May 9th. Finally, Truist Financial reaffirmed a hold rating and issued a $16.00 price target on shares of R1 RCM in a report on Monday, April 1st. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, R1 RCM presently has an average rating of Moderate Buy and a consensus target price of $16.00.

R1 RCM Stock Down 3.3 %

RCM stock opened at $12.49 on Monday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.79 and a current ratio of 1.79. The company has a market capitalization of $5.26 billion, a price-to-earnings ratio of -156.13 and a beta of 0.85. R1 RCM has a fifty-two week low of $8.87 and a fifty-two week high of $18.70. The stock has a fifty day moving average of $12.41 and a 200-day moving average of $11.96.

R1 RCM (NASDAQ:RCM) 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 company had revenue of $603.90 million for the quarter, compared to analysts’ expectations of $612.88 million. R1 RCM had a negative return on equity of 1.16% and a negative net margin of 1.39%. R1 RCM’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, equities research analysts predict that R1 RCM will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On R1 RCM

Large investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. purchased a new position in shares of R1 RCM during the first quarter valued at approximately $27,000. ANTIPODES PARTNERS Ltd increased its stake in shares of R1 RCM by 429.5% during 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 period. Salem Investment Counselors Inc. purchased a new position in shares of R1 RCM during the fourth quarter valued at approximately $61,000. Van ECK Associates Corp increased its stake in shares of R1 RCM by 20.5% during 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 period. Finally, QRG Capital Management Inc. purchased a new position in shares of R1 RCM during the first quarter valued at approximately $132,000. 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.