Morgan Stanley Reiterates Overweight Rating for R1 RCM (NASDAQ:RCM)

R1 RCM (NASDAQ:RCM)‘s stock had its “overweight” rating reaffirmed by investment analysts at Morgan Stanley in a note issued to investors on Monday, Benzinga reports. They presently have a $17.00 price target on the healthcare provider’s stock. Morgan Stanley’s target price suggests a potential upside of 31.38% from the company’s current price.

Several other research analysts also recently commented on the stock. Citigroup upgraded shares of R1 RCM from a “neutral” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Wednesday, March 20th. Royal Bank of Canada reissued an “outperform” rating and set a $19.00 price objective on shares of R1 RCM in a research report on Friday, June 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $20.00 target price on shares of R1 RCM in a report on Tuesday, July 2nd. Canaccord Genuity Group cut their price target on R1 RCM from $16.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of R1 RCM in a research report on Wednesday, April 10th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, R1 RCM presently has a consensus rating of “Moderate Buy” and an average price target of $16.00.

R1 RCM Stock Performance

Shares of NASDAQ RCM opened at $12.94 on Monday. 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 has a one year low of $8.87 and a one year high of $18.70. The business’s 50-day moving average price is $12.39 and its two-hundred day moving average price is $11.95. The company has a market capitalization of $5.45 billion, a P/E ratio of -161.75 and a beta of 0.85.

R1 RCM (NASDAQ:RCM) last posted its earnings results on Wednesday, May 8th. The healthcare provider reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). The business had revenue of $603.90 million during the quarter, compared to analyst estimates of $612.88 million. R1 RCM had a negative net margin of 1.39% and a negative return on equity of 1.16%. The company’s revenue was up 10.7% compared to the same quarter last year. Analysts anticipate that R1 RCM will post -0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. acquired a new stake in shares of R1 RCM during the 1st quarter worth approximately $27,000. ANTIPODES PARTNERS Ltd raised its position in shares of R1 RCM by 429.5% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 5,623 shares of the healthcare provider’s stock valued at $59,000 after acquiring an additional 4,561 shares during the last quarter. Salem Investment Counselors Inc. acquired a new position in shares of R1 RCM in the 4th quarter valued at $61,000. Van ECK Associates Corp boosted its position in shares of R1 RCM by 20.5% in the 4th quarter. Van ECK Associates Corp now owns 6,141 shares of the healthcare provider’s stock worth $65,000 after purchasing an additional 1,044 shares during the last quarter. Finally, QRG Capital Management Inc. acquired a new stake in shares of R1 RCM during the first quarter worth $132,000. 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.