R1 RCM (NASDAQ:RCM) Receives New Coverage from Analysts at KeyCorp

KeyCorp began coverage on shares of R1 RCM (NASDAQ:RCMGet Rating) in a research note published on Thursday morning, The Fly reports. The brokerage issued an overweight rating on the healthcare provider’s stock.

RCM has been the subject of several other reports. Barclays restated an overweight rating and set a $29.00 price target on shares of R1 RCM in a report on Wednesday, June 29th. JPMorgan Chase & Co. started coverage on R1 RCM in a report on Monday, August 1st. They set an overweight rating for the company. Deutsche Bank Aktiengesellschaft raised their price target on R1 RCM from $26.00 to $31.00 in a report on Thursday, August 4th. Finally, Truist Financial assumed coverage on R1 RCM in a report on Wednesday, September 7th. They set a buy rating and a $29.00 price target for the company. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $30.00.

R1 RCM Stock Performance

Shares of R1 RCM stock opened at $21.75 on Thursday. R1 RCM has a 12 month low of $18.73 and a 12 month high of $27.86. 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 business has a fifty day simple moving average of $23.58 and a two-hundred day simple moving average of $23.48. The firm has a market capitalization of $9.05 billion, a P/E ratio of 120.84, a P/E/G ratio of 4.67 and a beta of 0.95.

Insider Buying and Selling at R1 RCM

In other R1 RCM news, CEO Joseph Gerard Flanagan sold 200,000 shares of the business’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $24.98, for a total transaction of $4,996,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,792,221 shares in the company, valued at approximately $69,749,680.58. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other R1 RCM news, insider John M. Sparby sold 4,365 shares of the business’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $26.03, for a total transaction of $113,620.95. Following the completion of the sale, the insider now directly owns 163,772 shares in the company, valued at approximately $4,262,985.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Joseph Gerard Flanagan sold 200,000 shares of R1 RCM stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $24.98, for a total value of $4,996,000.00. Following the transaction, the chief executive officer now directly owns 2,792,221 shares in the company, valued at $69,749,680.58. The disclosure for this sale can be found here. Insiders sold a total of 15,449,056 shares of company stock worth $317,717,189 in the last three months. 59.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Los Angeles Capital Management LLC lifted its holdings in R1 RCM by 2.0% in the 1st quarter. Los Angeles Capital Management LLC now owns 37,221 shares of the healthcare provider’s stock worth $996,000 after purchasing an additional 712 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in R1 RCM by 130.7% in the 1st quarter. Victory Capital Management Inc. now owns 47,511 shares of the healthcare provider’s stock worth $1,070,000 after purchasing an additional 26,915 shares in the last quarter. Mutual of America Capital Management LLC lifted its holdings in R1 RCM by 2.2% in the 1st quarter. Mutual of America Capital Management LLC now owns 121,794 shares of the healthcare provider’s stock worth $3,259,000 after purchasing an additional 2,599 shares in the last quarter. Citigroup Inc. lifted its holdings in R1 RCM by 34.0% in the 4th quarter. Citigroup Inc. now owns 141,093 shares of the healthcare provider’s stock worth $3,596,000 after purchasing an additional 35,803 shares in the last quarter. Finally, Lombard Odier Asset Management Switzerland SA lifted its holdings in R1 RCM by 9.2% in the 4th quarter. Lombard Odier Asset Management Switzerland SA now owns 577,798 shares of the healthcare provider’s stock worth $14,728,000 after purchasing an additional 48,872 shares in the last quarter. 49.86% of the stock is owned by hedge funds and other institutional investors.

About R1 RCM

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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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