R1 RCM (NASDAQ:RCM) Sees Unusually-High Trading Volume – What’s Next?

R1 RCM Inc. (NASDAQ:RCM) saw an uptick in trading volume on Thursday . 5,363,333 shares changed hands during trading, an increase of 56% from the previous session’s volume of 3,435,870 shares.The stock last traded at $14.31 and had previously closed at $14.30.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RCM. Canaccord Genuity Group reiterated a “buy” rating and issued a $15.00 target price on shares of R1 RCM in a research note on Monday, July 22nd. Morgan Stanley downgraded shares of R1 RCM from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 8th. Leerink Partners downgraded R1 RCM from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $17.00 to $14.30 in a research report on Thursday, August 1st. Jefferies Financial Group lowered shares of R1 RCM from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, TD Cowen reissued a “hold” rating and issued a $14.30 price objective (down previously from $20.00) on shares of R1 RCM in a research note on Monday, August 5th. Thirteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $15.41.

R1 RCM Price Performance

The stock has a fifty day moving average of $14.20 and a 200 day moving average of $13.37. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a market cap of $6.04 billion, a price-to-earnings ratio of -95.33 and a beta of 0.84.

R1 RCM (NASDAQ:RCM) last released its quarterly earnings data on Tuesday, November 5th. The healthcare provider reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The business had revenue of $656.80 million during the quarter, compared to analysts’ expectations of $640.93 million. R1 RCM had a negative net margin of 2.48% and a negative return on equity of 2.18%. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. On average, analysts expect that R1 RCM Inc. will post -0.38 EPS for the current fiscal year.

Hedge Funds Weigh In On R1 RCM

Hedge funds and other institutional investors have recently modified their holdings of the business. Texas Permanent School Fund Corp lifted its position in shares of R1 RCM by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 172,179 shares of the healthcare provider’s stock worth $2,218,000 after purchasing an additional 2,135 shares in the last quarter. QRG Capital Management Inc. purchased a new position in R1 RCM during the 1st quarter worth $132,000. Covestor Ltd raised its holdings in shares of R1 RCM by 340.9% in the first quarter. Covestor Ltd now owns 13,438 shares of the healthcare provider’s stock valued at $172,000 after buying an additional 10,390 shares during the last quarter. Lane Generational LLC acquired a new stake in shares of R1 RCM during the first quarter worth about $1,250,000. Finally, Clearbridge Investments LLC grew its stake in shares of R1 RCM by 16.9% in the 1st quarter. Clearbridge Investments LLC now owns 1,162,703 shares of the healthcare provider’s stock valued at $14,976,000 after purchasing an additional 168,197 shares during the last quarter. 61.10% of the stock is owned by hedge funds and other 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.