Cowen Lowers R1 RCM (NASDAQ:RCM) Price Target to $25.00

R1 RCM (NASDAQ:RCMGet Rating) had its price objective dropped by stock analysts at Cowen from $34.00 to $25.00 in a note issued to investors on Monday, The Fly reports. The brokerage presently has an “outperform” rating on the healthcare provider’s stock. Cowen’s price target points to a potential upside of 175.63% from the stock’s current price.

RCM has been the subject of a number of other reports. Truist Financial started 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. Evercore ISI started coverage on R1 RCM in a report on Sunday, October 23rd. They set an “outperform” rating and a $25.00 price target for the company. JPMorgan Chase & Co. started coverage on R1 RCM in a report on Monday, August 1st. They set an “overweight” rating for the company. KeyCorp decreased their price target on R1 RCM from $30.00 to $10.00 and set an “overweight” rating for the company in a report on Wednesday, November 9th. Finally, SVB Leerink decreased their price target on R1 RCM from $35.00 to $16.00 and set an “outperform” rating for the company in a report on Wednesday, November 9th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, R1 RCM presently has an average rating of “Moderate Buy” and a consensus price target of $19.36.

R1 RCM Stock Performance

NASDAQ RCM opened at $9.07 on Monday. The company has a quick ratio of 1.54, a current ratio of 1.56 and a debt-to-equity ratio of 0.63. The stock has a fifty day simple moving average of $17.27 and a 200 day simple moving average of $20.66. R1 RCM has a twelve month low of $6.71 and a twelve month high of $27.86. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of 151.17 and a beta of 0.94.

Insider Activity at R1 RCM

In related news, CEO Joseph Gerard Flanagan sold 200,000 shares of the firm’s 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 owns 2,792,221 shares of the company’s stock, valued at approximately $69,749,680.58. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Joseph Gerard Flanagan sold 200,000 shares of the firm’s 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 owns 2,792,221 shares of the company’s stock, valued at approximately $69,749,680.58. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Achi Series Lllp Tcp-Asc sold 15,000,000 shares of the firm’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $20.43, for a total transaction of $306,450,000.00. Following the completion of the transaction, the director now directly owns 164,754,055 shares in the company, valued at approximately $3,365,925,343.65. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,240,000 shares of company stock valued at $312,446,400. 63.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On R1 RCM

Several large investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC lifted its position in shares of R1 RCM by 2.0% during the 1st quarter. Los Angeles Capital Management LLC now owns 37,221 shares of the healthcare provider’s stock worth $996,000 after buying an additional 712 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of R1 RCM by 130.7% during the 1st quarter. Victory Capital Management Inc. now owns 47,511 shares of the healthcare provider’s stock worth $1,070,000 after buying an additional 26,915 shares in the last quarter. Mutual of America Capital Management LLC lifted its position in shares of R1 RCM by 2.2% during 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 buying an additional 2,599 shares in the last quarter. Twin Tree Management LP bought a new position in shares of R1 RCM during the 1st quarter worth approximately $28,000. Finally, Eversept Partners LP lifted its position in shares of R1 RCM by 85.7% during the 1st quarter. Eversept Partners LP now owns 1,361,506 shares of the healthcare provider’s stock worth $36,434,000 after buying an additional 628,374 shares in the last quarter. Institutional investors own 49.86% of the company’s stock.

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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