R1 RCM (NASDAQ:RCM) Sees Strong Trading Volume – Here’s Why

R1 RCM Inc. (NASDAQ:RCM) saw an uptick in trading volume on Thursday . 5,363,333 shares were traded during mid-day trading, an increase of 56% from the previous session’s volume of 3,435,870 shares.The stock last traded at $14.31 and had previously closed at $14.30.

Analysts Set New Price Targets

A number of analysts have recently weighed in on RCM shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a $15.00 price objective on shares of R1 RCM in a research report on Monday, July 22nd. TD Cowen reaffirmed a “hold” rating and issued a $14.30 price target (down previously from $20.00) on shares of R1 RCM in a research report on Monday, August 5th. Leerink Partnrs downgraded R1 RCM from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $14.30 target price on shares of R1 RCM in a report on Friday, October 4th. Finally, Jefferies Financial Group cut shares of R1 RCM from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Thirteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $15.41.

R1 RCM Stock Performance

The business’s 50 day simple moving average is $14.21 and its 200 day simple moving average is $13.39. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.79 and a quick ratio of 1.79. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of -95.33 and a beta of 0.84.

R1 RCM (NASDAQ:RCM) last issued its quarterly earnings results on Tuesday, November 5th. The healthcare provider reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.04). R1 RCM had a negative net margin of 2.48% and a negative return on equity of 2.18%. The company had revenue of $656.80 million during the quarter, compared to analyst estimates of $640.93 million. The business’s revenue was up 14.7% on a year-over-year basis. Research analysts anticipate that R1 RCM Inc. will post -0.38 EPS for the current year.

Hedge Funds Weigh In On R1 RCM

A number of hedge funds and other institutional investors have recently bought and sold shares of RCM. QRG Capital Management Inc. purchased a new stake in R1 RCM in the 1st quarter valued at approximately $132,000. Covestor Ltd boosted its stake in shares of R1 RCM by 340.9% in the first quarter. Covestor Ltd now owns 13,438 shares of the healthcare provider’s stock valued at $172,000 after buying an additional 10,390 shares in the last quarter. Lane Generational LLC acquired a new position in R1 RCM during the first quarter worth $1,250,000. Clearbridge Investments LLC raised its position in R1 RCM by 16.9% in the first quarter. Clearbridge Investments LLC now owns 1,162,703 shares of the healthcare provider’s stock worth $14,976,000 after acquiring an additional 168,197 shares in the last quarter. Finally, Natixis acquired a new stake in R1 RCM in the first quarter valued at $2,883,000. 61.10% of the stock is currently 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.