Analysts Set R1 RCM Inc. (NASDAQ:RCM) Target Price at $17.00

Shares of R1 RCM Inc. (NASDAQ:RCM) have been given an average recommendation of “Moderate Buy” by the thirteen brokerages that are presently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $16.87.

Several research analysts have commented on RCM shares. Guggenheim cut their price target on R1 RCM from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Evercore ISI reiterated an “in-line” rating and issued a $16.00 price target (up previously from $12.00) on shares of R1 RCM in a research report on Wednesday, February 28th. 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 objective on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $20.00 price objective on shares of R1 RCM in a research note on Wednesday, April 10th. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of R1 RCM in a report on Monday, February 26th.

R1 RCM Price Performance

R1 RCM stock opened at $12.21 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.83 and a quick ratio of 1.83. R1 RCM has a fifty-two week low of $8.87 and a fifty-two week high of $18.70. The stock has a 50-day simple moving average of $12.64 and a 200-day simple moving average of $11.55.

Insider Activity at R1 RCM

In other news, President John M. Sparby sold 10,046 shares of the firm’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 sale, the president now directly owns 265,986 shares of the company’s stock, valued at approximately $3,811,579.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 37.00% of the stock is owned by insiders.

Hedge Funds Weigh In On R1 RCM

A number of institutional investors and hedge funds have recently made changes to their positions in RCM. JPMorgan Chase & Co. grew its position in R1 RCM by 4.0% during the first quarter. JPMorgan Chase & Co. now owns 289,403 shares of the healthcare provider’s stock worth $7,745,000 after buying an additional 11,065 shares during the period. HighTower Advisors LLC purchased a new stake in shares of R1 RCM during the 1st quarter worth approximately $205,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of R1 RCM by 10.8% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 48,944 shares of the healthcare provider’s stock worth $1,310,000 after acquiring an additional 4,765 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of R1 RCM by 8.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 72,724 shares of the healthcare provider’s stock worth $1,999,000 after acquiring an additional 5,648 shares during the period. Finally, Yousif Capital Management LLC increased its stake in R1 RCM by 2.4% in the 1st quarter. Yousif Capital Management LLC now owns 70,495 shares of the healthcare provider’s stock valued at $1,886,000 after purchasing an additional 1,632 shares in the last quarter. 61.10% of the stock is owned by institutional investors and hedge funds.

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.