R1 RCM (NASDAQ:RCM) Shares Gap Up on Analyst Upgrade

Shares of R1 RCM Inc. (NASDAQ:RCM – Get Rating) gapped up prior to trading on Friday after Bank of America raised their price target on the stock from $19.00 to $22.00. The stock had previously closed at $16.78, but opened at $17.36. R1 RCM shares last traded at $17.02, with a volume of 1,009,864 shares trading hands.

A number of other equities analysts have also recently issued reports on RCM. Deutsche Bank Aktiengesellschaft increased their target price on R1 RCM from $16.00 to $18.00 in a report on Monday, May 8th. Truist Financial cut R1 RCM from a “buy” rating to a “hold” rating and set a $15.00 target price for the company. in a report on Thursday, February 2nd. TheStreet upgraded R1 RCM from a “d+” rating to a “c” rating in a report on Friday, May 5th. Royal Bank of Canada increased their target price on R1 RCM from $14.00 to $18.00 and gave the stock an “outperform” rating in a report on Thursday, February 2nd. Finally, KeyCorp increased their target price on R1 RCM from $15.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, February 2nd. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.44.

Insider Transactions at R1 RCM

In other news, CEO Lee Rivas acquired 71,767 shares of the firm’s stock in a transaction that occurred on Tuesday, February 21st. The shares were acquired at an average cost of $13.93 per share, with a total value of $999,714.31. Following the completion of the purchase, the chief executive officer now directly owns 71,767 shares of the company’s stock, valued at approximately $999,714.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Lee Rivas acquired 71,767 shares of the firm’s stock in a transaction that occurred on Tuesday, February 21st. The shares were acquired at an average cost of $13.93 per share, with a total value of $999,714.31. Following the completion of the purchase, the chief executive officer now directly owns 71,767 shares of the company’s stock, valued at approximately $999,714.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President John M. Sparby sold 20,000 shares of R1 RCM stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $16.36, for a total transaction of $327,200.00. Following the completion of the transaction, the president now directly owns 243,827 shares in the company, valued at $3,989,009.72. The disclosure for this sale can be found here. Insiders own 37.00% of the company’s stock.

Institutional Trading of R1 RCM

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in shares of R1 RCM by 80.1% during the first quarter. JPMorgan Chase & Co. now owns 572,072 shares of the healthcare provider’s stock worth $8,581,000 after purchasing an additional 254,357 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of R1 RCM by 20.5% during the first quarter. Thrivent Financial for Lutherans now owns 947,060 shares of the healthcare provider’s stock worth $14,206,000 after purchasing an additional 161,164 shares during the period. Silvercrest Asset Management Group LLC acquired a new position in shares of R1 RCM during the first quarter worth $12,101,000. Snyder Capital Management L P lifted its holdings in shares of R1 RCM by 13.1% during the first quarter. Snyder Capital Management L P now owns 4,086,319 shares of the healthcare provider’s stock worth $61,295,000 after purchasing an additional 474,178 shares during the period. Finally, State Street Corp lifted its holdings in shares of R1 RCM by 3.1% during the first quarter. State Street Corp now owns 4,915,311 shares of the healthcare provider’s stock worth $73,730,000 after purchasing an additional 147,840 shares during the period. Institutional investors own 97.09% of the company’s stock.

R1 RCM Price Performance

The company has a market cap of $7.05 billion, a price-to-earnings ratio of -73.30, a price-to-earnings-growth ratio of 12.18 and a beta of 0.84. The business’s fifty day moving average price is $15.14 and its 200 day moving average price is $13.04.

R1 RCM (NASDAQ:RCM – Get Rating) last posted its quarterly earnings results on Thursday, February 16th. The healthcare provider reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.06). The company had revenue of $532.80 million during the quarter, compared to the consensus estimate of $519.28 million. R1 RCM had a negative net margin of 4.41% and a negative return on equity of 1.02%. The company’s revenue for the quarter was up 33.6% on a year-over-year basis. During the same period last year, the firm posted $0.11 earnings per share. As a group, equities research analysts anticipate that R1 RCM Inc. will post 0.08 EPS for the current year.

R1 RCM Company Profile

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R1 RCM, Inc engages in the provision of revenue cycle management to healthcare providers. It offers end-to-end, modular revenue cycle, and physician advisory services. The company was founded by Mary Ann Tolan and J. Michael Cline in July 2003 and is headquartered in Murray, UT.