R1 RCM (NASDAQ:RCM) Rating Reiterated by KeyCorp

R1 RCM (NASDAQ:RCM)‘s stock had its “sector weight” rating reissued by equities research analysts at KeyCorp in a research note issued on Wednesday, MarketBeat reports.

A number of other brokerages have also weighed in on RCM. JPMorgan Chase & Co. lowered R1 RCM from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $20.00 to $11.00 in a research report on Wednesday, December 13th. Leerink Partnrs reaffirmed an “outperform” rating on shares of R1 RCM in a research report on Monday, February 26th. Morgan Stanley reaffirmed an “overweight” rating and set a $17.00 price target on shares of R1 RCM in a research report on Tuesday, March 26th. SVB Leerink assumed coverage on shares of R1 RCM in a research report on Monday, February 26th. They set an “outperform” rating and a $14.00 price target for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $19.00 price target on shares of R1 RCM in a research report on Thursday, March 7th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, R1 RCM presently has an average rating of “Moderate Buy” and a consensus target price of $16.87.

R1 RCM Stock Performance

Shares of NASDAQ:RCM opened at $12.78 on Wednesday. R1 RCM has a fifty-two week low of $8.87 and a fifty-two week high of $18.70. The business has a 50-day simple moving average of $12.53 and a two-hundred day simple moving average of $11.66. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.83 and a quick ratio of 1.83.

Insiders Place Their Bets

In other R1 RCM news, President John M. Sparby sold 10,046 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $14.33, for a total value of $143,959.18. Following the completion of the transaction, the president now directly owns 265,986 shares in the company, valued at approximately $3,811,579.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 37.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Point72 Middle East FZE bought a new stake in R1 RCM in the fourth quarter worth $29,000. Captrust Financial Advisors lifted its position in 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 buying an additional 748 shares during the last quarter. Headlands Technologies LLC bought a new stake in R1 RCM in the third quarter worth $36,000. ANTIPODES PARTNERS Ltd lifted its position in R1 RCM by 429.5% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 5,623 shares of the healthcare provider’s stock worth $59,000 after buying an additional 4,561 shares during the last quarter. Finally, Salem Investment Counselors Inc. bought a new stake in R1 RCM in the fourth quarter worth $61,000. 61.10% of the stock is owned by hedge funds and other institutional investors.

About R1 RCM

R1 RCM Inc provides technology-driven solutions for the financial performance and patient experience of health systems, hospitals, and physician groups. It provides operating partnership/end-to-end solutions, which manages multiple aspects of the revenue cycle to realize financial leverage and revenue improvement for hospital and physician customers.