R1 RCM (NASDAQ:RCM) Sees Large Volume Increase

Shares of R1 RCM Inc. (NASDAQ:RCMGet Rating) saw unusually-high trading volume on Friday . Approximately 112,959 shares traded hands during mid-day trading, a decline of 94% from the previous session’s volume of 1,943,067 shares.The stock last traded at $22.24 and had previously closed at $22.14.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RCM. Deutsche Bank Aktiengesellschaft lifted their price target on R1 RCM from $26.00 to $31.00 in a research report on Thursday, August 4th. Truist Financial initiated coverage on R1 RCM in a research report on Wednesday. They set a “buy” rating and a $29.00 price objective for the company. Barclays reissued an “overweight” rating and set a $29.00 price target on shares of R1 RCM in a report on Wednesday, June 29th. Finally, JPMorgan Chase & Co. began coverage on R1 RCM in a research note on Monday, August 1st. They issued an “overweight” rating for the company. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $30.00.

R1 RCM Price Performance

The company has a current ratio of 1.57, a quick ratio of 1.54 and a debt-to-equity ratio of 0.64. The firm has a market cap of $9.27 billion, a P/E ratio of 123.73, a PEG ratio of 4.97 and a beta of 0.95. The firm has a 50-day simple moving average of $23.66 and a 200-day simple moving average of $23.62.

Insiders Place Their Bets

In related news, insider John M. Sparby sold 4,365 shares of R1 RCM stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $26.03, for a total value of $113,620.95. Following the completion of the transaction, the insider now owns 163,772 shares in the company, valued at approximately $4,262,985.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider John M. Sparby sold 4,691 shares of R1 RCM stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $25.83, for a total value of $121,168.53. Following the sale, the insider now directly owns 188,137 shares in the company, valued at approximately $4,859,578.71. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John M. Sparby sold 4,365 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $26.03, for a total value of $113,620.95. Following the transaction, the insider now owns 163,772 shares in the company, valued at $4,262,985.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 449,056 shares of company stock valued at $11,267,189. 59.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Twin Tree Management LP acquired a new position in shares of R1 RCM during the 1st quarter worth approximately $28,000. Captrust Financial Advisors lifted its holdings in R1 RCM by 81.7% in the second quarter. Captrust Financial Advisors now owns 1,664 shares of the healthcare provider’s stock valued at $35,000 after acquiring an additional 748 shares during the last quarter. Cordasco Financial Network acquired a new position in R1 RCM in the first quarter valued at approximately $36,000. Lazard Asset Management LLC acquired a new position in R1 RCM in the second quarter valued at approximately $49,000. Finally, Point72 Hong Kong Ltd acquired a new position in R1 RCM in the fourth quarter valued at approximately $53,000. 49.86% of the stock is currently owned by institutional investors and hedge funds.

R1 RCM Company Profile

(Get Rating)

R1 RCM Inc provides technology-driven solutions that transform the patient experience and financial performance of hospitals, health systems, and medical groups. It offers end-to-end revenue cycle management (RCM) services, which address the spectrum of revenue cycle challenges faced by healthcare providers.

Featured Articles

Receive News & Ratings for R1 RCM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for R1 RCM and related companies with MarketBeat.com's FREE daily email newsletter.