R1 RCM (NASDAQ:RCM) Sees Strong Trading Volume – What’s Next?

R1 RCM Inc. (NASDAQ:RCM) saw unusually-strong trading volume on Thursday . Approximately 5,363,333 shares were traded during 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.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on RCM shares. Truist Financial dropped their target price on shares of R1 RCM from $16.00 to $14.30 and set a “hold” rating for the company in a report on Thursday, August 8th. Leerink Partnrs downgraded R1 RCM from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Jefferies Financial Group downgraded R1 RCM from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Canaccord Genuity Group restated a “buy” rating and issued a $15.00 price target on shares of R1 RCM in a research report on Monday, July 22nd. Finally, TD Cowen reiterated a “hold” rating and issued a $14.30 price objective (down from $20.00) on shares of R1 RCM in a research report on Monday, August 5th. Thirteen analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, R1 RCM has a consensus rating of “Hold” and a consensus price target of $15.41.

R1 RCM Stock Performance

The stock has a market cap of $6.04 billion, a price-to-earnings ratio of -95.33 and a beta of 0.84. 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 stock’s 50-day moving average is $14.21 and its 200-day moving average is $13.39.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RCM. Gabelli Funds LLC acquired a new position in R1 RCM in the first quarter valued at $2,114,000. BOKF NA acquired a new position in shares of R1 RCM in the 1st quarter valued at about $1,189,000. Natixis acquired a new position in shares of R1 RCM in the 1st quarter valued at about $2,883,000. Tokio Marine Asset Management Co. Ltd. purchased a new stake in shares of R1 RCM during the 3rd quarter worth about $11,986,000. Finally, Boston Partners increased its position in R1 RCM by 4,976.6% during the 1st quarter. Boston Partners now owns 2,570,371 shares of the healthcare provider’s stock worth $32,784,000 after purchasing an additional 2,519,739 shares in the last quarter. Institutional investors and hedge funds own 61.10% of the company’s stock.

R1 RCM Company Profile

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.