R1 RCM (NASDAQ:RCM) Shares Gap Down to $12.56

R1 RCM Inc. (NASDAQ:RCM)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $12.56, but opened at $11.24. R1 RCM shares last traded at $10.75, with a volume of 2,304,497 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on RCM shares. KeyCorp reissued a “sector weight” rating on shares of R1 RCM in a research report on Wednesday, April 10th. Royal Bank of Canada reissued an “outperform” rating and set a $19.00 target price on shares of R1 RCM in a research report on Friday, June 28th. Morgan Stanley reissued an “overweight” rating and set a $17.00 target price on shares of R1 RCM in a research report on Tuesday, March 26th. Robert W. Baird reissued an “outperform” rating and set a $18.00 target price on shares of R1 RCM in a research report on Tuesday. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $20.00 price target on shares of R1 RCM in a research note on Tuesday. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $16.00.

R1 RCM Stock Performance

The company’s 50-day moving average price is $12.41 and its two-hundred day moving average price is $11.89. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.79 and a current ratio of 1.79. The stock has a market cap of $4.69 billion, a PE ratio of -139.13 and a beta of 0.85.

R1 RCM (NASDAQ:RCM) last released its earnings results on Wednesday, May 8th. The healthcare provider reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.03). The business had revenue of $603.90 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 10.7% on a year-over-year basis. On average, equities research analysts forecast that R1 RCM Inc. will post -0.17 EPS for the current year.

Institutional Investors Weigh In On R1 RCM

Institutional investors and hedge funds have recently modified their holdings of the stock. Mariner LLC lifted its position in R1 RCM by 10.6% during the 3rd quarter. Mariner LLC now owns 29,508 shares of the healthcare provider’s stock valued at $445,000 after acquiring an additional 2,836 shares during the period. Northern Trust Corp raised its holdings in R1 RCM by 17.8% in the third quarter. Northern Trust Corp now owns 1,515,507 shares of the healthcare provider’s stock worth $22,839,000 after buying an additional 229,395 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in R1 RCM by 419.2% in the third quarter. Tower Research Capital LLC TRC now owns 39,309 shares of the healthcare provider’s stock worth $592,000 after buying an additional 31,738 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its holdings in R1 RCM by 31.7% in the third quarter. Schonfeld Strategic Advisors LLC now owns 47,600 shares of the healthcare provider’s stock worth $717,000 after buying an additional 11,465 shares during the last quarter. Finally, Revisor Wealth Management LLC purchased a new position in R1 RCM in the third quarter worth about $247,000. 61.10% of the stock is 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.