R1 RCM (NASDAQ:RCM) Price Target Cut to $11.00

R1 RCM (NASDAQ:RCMGet Rating) had its price objective lowered by JPMorgan Chase & Co. from $33.00 to $11.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the healthcare provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 42.67% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of R1 RCM from $31.00 to $14.00 in a report on Thursday, November 10th. SVB Leerink cut their price target on shares of R1 RCM from $35.00 to $16.00 and set an “outperform” rating for the company in a report on Wednesday, November 9th. Royal Bank of Canada cut their price target on shares of R1 RCM from $35.00 to $12.00 and set an “outperform” rating for the company in a report on Wednesday, November 9th. KeyCorp cut their price target on shares of R1 RCM from $30.00 to $10.00 and set an “overweight” rating for the company in a report on Wednesday, November 9th. Finally, Truist Financial initiated coverage on shares of R1 RCM in a report on Wednesday, September 7th. They issued a “buy” rating and a $29.00 price target for the company. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.67.

R1 RCM Stock Up 2.3 %

RCM stock opened at $7.71 on Friday. The company has a fifty day moving average of $16.40 and a 200-day moving average of $20.36. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.54 and a current ratio of 1.56. The stock has a market capitalization of $3.21 billion, a PE ratio of 128.50 and a beta of 0.94. R1 RCM has a one year low of $6.71 and a one year high of $27.86.

Insider Transactions at R1 RCM

In other news, Director Achi Series Lllp Tcp-Asc sold 15,000,000 shares of R1 RCM 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 sale, the director now directly owns 164,754,055 shares in the company, valued at $3,365,925,343.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 59.40% of the company’s stock.

Institutional Investors Weigh In On R1 RCM

Hedge funds and other institutional investors have recently modified their holdings of the company. Twin Tree Management LP acquired a new stake in shares of R1 RCM in the first quarter worth approximately $28,000. Captrust Financial Advisors boosted its position in shares of R1 RCM by 81.7% in the second quarter. Captrust Financial Advisors now owns 1,664 shares of the healthcare provider’s stock worth $35,000 after acquiring an additional 748 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of R1 RCM in the second quarter worth approximately $49,000. Macquarie Group Ltd. boosted its position in shares of R1 RCM by 11.0% in the second quarter. Macquarie Group Ltd. now owns 4,159 shares of the healthcare provider’s stock worth $88,000 after acquiring an additional 411 shares during the last quarter. Finally, Point72 Hong Kong Ltd boosted its position in shares of R1 RCM by 100.5% in the first quarter. Point72 Hong Kong Ltd now owns 4,203 shares of the healthcare provider’s stock worth $112,000 after acquiring an additional 2,107 shares during the last quarter. 49.86% of the stock is currently 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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