R1 RCM (NASDAQ:RCM – Get Free Report)‘s stock had its “outperform” rating reaffirmed by Royal Bank of Canada in a research report issued on Friday, Benzinga reports. They presently have a $22.00 price objective on the healthcare provider’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 41.21% from the company’s previous close.
RCM has been the subject of a number of other research reports. Citigroup assumed coverage on shares of R1 RCM in a research note on Friday. They issued a “buy” rating and a $20.00 price target for the company. Jefferies Financial Group upped their price objective on shares of R1 RCM from $20.00 to $22.00 in a research note on Friday, June 16th. Cantor Fitzgerald assumed coverage on R1 RCM in a report on Tuesday, August 15th. They issued an “overweight” rating and a $20.00 price target for the company. Morgan Stanley increased their target price on R1 RCM from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 3rd. Finally, Guggenheim reaffirmed a “buy” rating and set a $21.00 target price on shares of R1 RCM in a research note on Friday, July 21st. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $19.11.
View Our Latest Research Report on RCM
R1 RCM Stock Performance
Insider Activity
In other R1 RCM news, Director John B. Henneman III sold 50,000 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $17.17, for a total value of $858,500.00. Following the transaction, the director now directly owns 72,114 shares of the company’s stock, valued at approximately $1,238,197.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 37.00% of the stock is currently owned by corporate insiders.
Institutional Trading of R1 RCM
A number of hedge funds have recently added to or reduced their stakes in the stock. Captrust Financial Advisors lifted its holdings in shares of R1 RCM by 81.7% during the second quarter. Captrust Financial Advisors now owns 1,664 shares of the healthcare provider’s stock worth $35,000 after purchasing an additional 748 shares during the period. Covestor Ltd boosted its holdings in R1 RCM by 313.0% during the second quarter. Covestor Ltd now owns 2,185 shares of the healthcare provider’s stock worth $41,000 after purchasing an additional 1,656 shares during the last quarter. Point72 Middle East FZE purchased a new position in R1 RCM during the fourth quarter worth about $29,000. Parkside Financial Bank & Trust boosted its stake in R1 RCM by 67.2% in the first quarter. Parkside Financial Bank & Trust now owns 2,972 shares of the healthcare provider’s stock valued at $45,000 after acquiring an additional 1,195 shares during the last quarter. Finally, State of Wyoming boosted its stake in R1 RCM by 29.6% in the second quarter. State of Wyoming now owns 3,333 shares of the healthcare provider’s stock valued at $61,000 after acquiring an additional 762 shares during the last quarter. Institutional investors and hedge funds own 61.10% of the company’s stock.
R1 RCM Company Profile
R1 RCM Inc provides technology-driven solutions that transform the patient experience and financial performance of hospitals, health systems, and physician groups. It offers end-to-end revenue cycle management (RCM) services, which address the spectrum of revenue cycle challenges faced by healthcare providers.
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