Shares of R1 RCM Inc. (NASDAQ:RCM – Get 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
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
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.
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