Canaccord Genuity Group Reiterates Buy Rating for R1 RCM (NASDAQ:RCM)

R1 RCM (NASDAQ:RCM)‘s stock had its “buy” rating reiterated by research analysts at Canaccord Genuity Group in a research report issued on Monday, Benzinga reports. They currently have a $15.00 target price on the healthcare provider’s stock. Canaccord Genuity Group’s price objective points to a potential upside of 11.69% from the company’s current price.

Several other equities analysts have also recently commented on the stock. KeyCorp reiterated a “sector weight” rating on shares of R1 RCM in a research note on Wednesday, April 10th. Robert W. Baird reiterated an “outperform” rating and set a $18.00 target price on shares of R1 RCM in a research note on Tuesday, July 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $19.00 target price on shares of R1 RCM in a research note on Friday, June 28th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of R1 RCM from $14.00 to $16.00 and gave the company a “hold” rating in a research note on Tuesday, July 9th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $20.00 price objective on shares of R1 RCM in a research note on Tuesday, July 2nd. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

R1 RCM Price Performance

Shares of R1 RCM stock opened at $13.43 on Monday. The firm has a fifty day simple moving average of $12.51 and a 200-day simple moving average of $12.12. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.78. R1 RCM has a 1-year low of $8.87 and a 1-year high of $18.53. The stock has a market capitalization of $5.66 billion, a price-to-earnings ratio of -167.88 and a beta of 0.85.

R1 RCM (NASDAQ:RCM) last issued its quarterly earnings data on Wednesday, May 8th. The healthcare provider reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). R1 RCM had a negative return on equity of 1.16% and a negative net margin of 1.39%. The firm had revenue of $603.90 million during the quarter, compared to analyst estimates of $612.88 million. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, sell-side analysts expect that R1 RCM will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On R1 RCM

Several large investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in R1 RCM in the 2nd quarter valued at approximately $213,000. QRG Capital Management Inc. raised its position in R1 RCM by 10.6% in the 2nd quarter. QRG Capital Management Inc. now owns 11,307 shares of the healthcare provider’s stock valued at $142,000 after buying an additional 1,080 shares during the last quarter. Boston Partners raised its position in R1 RCM by 4,976.6% in the 1st quarter. Boston Partners now owns 2,570,371 shares of the healthcare provider’s stock valued at $32,784,000 after buying an additional 2,519,739 shares during the last quarter. Zimmer Partners LP acquired a new stake in R1 RCM in the 1st quarter valued at approximately $3,398,000. Finally, First Light Asset Management LLC raised its position in R1 RCM by 212.8% in the 1st quarter. First Light Asset Management LLC now owns 2,552,325 shares of the healthcare provider’s stock valued at $32,874,000 after buying an additional 1,736,346 shares during the last quarter. 61.10% of the stock is currently owned by institutional investors.

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.