R1 RCM (NASDAQ:RCM) Shares Gap Up to $12.47

R1 RCM Inc. (NASDAQ:RCMGet Rating) gapped up prior to trading on Tuesday . The stock had previously closed at $12.47, but opened at $12.99. R1 RCM shares last traded at $12.49, with a volume of 5,863 shares traded.

Analyst Ratings Changes

A number of equities analysts have issued reports on RCM shares. Guggenheim raised shares of R1 RCM from a “neutral” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Wednesday, December 7th. KeyCorp raised their price target on shares of R1 RCM from $10.00 to $15.00 and gave the company an “overweight” rating in a research note on Monday, December 5th. Canaccord Genuity Group initiated coverage on shares of R1 RCM in a research note on Thursday, January 5th. They issued a “buy” rating and a $14.00 price target on the stock. Evercore ISI dropped their price target on shares of R1 RCM to $10.00 in a research note on Tuesday, November 15th. Finally, Cowen dropped their price target on shares of R1 RCM from $34.00 to $25.00 and set an “outperform” rating on the stock in a research note on Monday, November 14th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.36.

R1 RCM Stock Down 3.5 %

The firm has a market cap of $5.11 billion, a price-to-earnings ratio of 204.33, a price-to-earnings-growth ratio of 2.32 and a beta of 0.69. The stock’s 50 day moving average is $10.09 and its 200 day moving average is $17.48.

R1 RCM (NASDAQ:RCMGet Rating) last posted its quarterly earnings results on Tuesday, November 8th. The healthcare provider reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.18). The business had revenue of $496.00 million during the quarter, compared to analyst estimates of $522.29 million. R1 RCM had a return on equity of 4.77% and a net margin of 0.93%. Analysts anticipate that R1 RCM Inc. will post -0.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Alliancebernstein L.P. boosted its stake in R1 RCM by 158.2% in the 3rd quarter. Alliancebernstein L.P. now owns 10,203,602 shares of the healthcare provider’s stock worth $189,073,000 after purchasing an additional 6,251,991 shares during the period. Invesco Ltd. boosted its stake in R1 RCM by 122.0% in the 1st quarter. Invesco Ltd. now owns 2,931,147 shares of the healthcare provider’s stock worth $78,438,000 after purchasing an additional 1,610,594 shares during the period. Ophir Asset Management Pty Ltd boosted its stake in R1 RCM by 372.1% in the 3rd quarter. Ophir Asset Management Pty Ltd now owns 1,486,243 shares of the healthcare provider’s stock worth $27,540,000 after purchasing an additional 1,171,446 shares during the period. Wellington Management Group LLP boosted its stake in R1 RCM by 21.1% in the 1st quarter. Wellington Management Group LLP now owns 6,223,742 shares of the healthcare provider’s stock worth $166,548,000 after purchasing an additional 1,086,266 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in R1 RCM by 34.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,135,301 shares of the healthcare provider’s stock worth $76,626,000 after purchasing an additional 1,057,169 shares during the period. Institutional investors and hedge funds own 97.09% 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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