R1 RCM (NASDAQ:RCM) Sees Large Volume Increase

R1 RCM Inc. (NASDAQ:RCM) saw an uptick in trading volume on Monday . 7,752,385 shares traded hands during trading, an increase of 110% from the previous session’s volume of 3,695,414 shares.The stock last traded at $13.95 and had previously closed at $14.05.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RCM. SVB Leerink lowered shares of R1 RCM from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $17.00 to $14.30 in a research report on Thursday. Morgan Stanley reiterated an “overweight” rating and set a $17.00 target price on shares of R1 RCM in a research note on Monday, July 8th. Royal Bank of Canada restated an “outperform” rating and issued a $19.00 price objective on shares of R1 RCM in a research note on Friday, June 28th. Jefferies Financial Group downgraded shares of R1 RCM from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Stephens downgraded shares of R1 RCM from an “overweight” rating to an “equal weight” rating in a research note on Thursday. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $15.91.

R1 RCM Stock Performance

The stock has a market cap of $5.88 billion, a price-to-earnings ratio of -174.38 and a beta of 0.85. The stock’s 50-day moving average is $12.66 and its 200-day moving average is $12.34. 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 issued its earnings results on Wednesday, May 8th. The healthcare provider reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). R1 RCM had a negative net margin of 1.39% and a negative return on equity of 1.16%. The business had revenue of $603.90 million during the quarter, compared to analysts’ expectations of $612.88 million. R1 RCM’s revenue was up 10.7% on a year-over-year basis. Analysts anticipate that R1 RCM Inc. will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RCM. Arizona State Retirement System lifted its position in R1 RCM by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 47,063 shares of the healthcare provider’s stock valued at $591,000 after purchasing an additional 969 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of R1 RCM by 7.7% during the second quarter. Victory Capital Management Inc. now owns 36,006 shares of the healthcare provider’s stock valued at $452,000 after buying an additional 2,574 shares during the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in shares of R1 RCM during the second quarter worth approximately $86,000. Privium Fund Management UK Ltd bought a new position in R1 RCM in the 2nd quarter worth approximately $502,000. Finally, CIBC Asset Management Inc bought a new position in R1 RCM in the 2nd quarter worth approximately $149,000. 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.