R1 RCM (NASDAQ:RCM) Earns “Overweight” Rating from Morgan Stanley

Morgan Stanley reissued their overweight rating on shares of R1 RCM (NASDAQ:RCM) in a report published on Monday, Benzinga reports. They currently have a $17.00 price objective on the healthcare provider’s stock.

Several other brokerages have also recently weighed in on RCM. Truist Financial reaffirmed a hold rating and issued a $16.00 price objective on shares of R1 RCM in a report on Monday, April 1st. Canaccord Genuity Group dropped their price objective on R1 RCM from $16.00 to $15.00 and set a buy rating for the company in a report on Thursday, May 9th. Cantor Fitzgerald reaffirmed an overweight rating and issued a $20.00 price objective on shares of R1 RCM in a report on Tuesday, July 2nd. Citigroup raised R1 RCM from a neutral rating to a buy rating and set a $16.00 price target for the company in a report on Wednesday, March 20th. Finally, Robert W. Baird reissued an outperform rating and set a $18.00 price target on shares of R1 RCM in a report on Tuesday, July 2nd. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, R1 RCM currently has an average rating of Moderate Buy and a consensus price target of $16.00.

R1 RCM Stock Performance

RCM opened at $12.92 on Monday. The business has a fifty day simple moving average of $12.41 and a 200 day simple moving average of $11.95. The company has a market capitalization of $5.44 billion, a PE ratio of -161.50 and a beta of 0.85. R1 RCM has a 1 year low of $8.87 and a 1 year high of $18.70. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.79 and a quick ratio of 1.79.

R1 RCM (NASDAQ:RCM) last announced its quarterly earnings data on Wednesday, May 8th. The healthcare provider reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.03). The company had revenue of $603.90 million during the quarter, compared to analyst estimates of $612.88 million. R1 RCM had a negative net margin of 1.39% and a negative return on equity of 1.16%. The firm’s revenue was up 10.7% on a year-over-year basis. Research analysts expect that R1 RCM will post -0.17 EPS for the current year.

Institutional Investors Weigh In On R1 RCM

Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisors Asset Management Inc. bought a new stake in shares of R1 RCM in the 1st quarter valued at about $27,000. ANTIPODES PARTNERS Ltd grew its position in shares of R1 RCM by 429.5% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 5,623 shares of the healthcare provider’s stock valued at $59,000 after buying an additional 4,561 shares during the last quarter. Salem Investment Counselors Inc. bought a new stake in shares of R1 RCM in the 4th quarter valued at about $61,000. Van ECK Associates Corp grew its position in shares of R1 RCM by 20.5% in the 4th quarter. Van ECK Associates Corp now owns 6,141 shares of the healthcare provider’s stock valued at $65,000 after buying an additional 1,044 shares during the last quarter. Finally, QRG Capital Management Inc. bought a new stake in shares of R1 RCM in the 1st quarter valued at about $132,000. Institutional investors own 61.10% of the company’s stock.

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.