R1 RCM Inc. (NASDAQ:RCM – Get Free Report)’s share price fell 4% during trading on Monday after KeyCorp lowered their price target on the stock from $18.00 to $13.00. KeyCorp currently has an overweight rating on the stock. R1 RCM traded as low as $9.70 and last traded at $9.73. 2,195,723 shares traded hands during mid-day trading, a decline of 18% from the average session volume of 2,669,638 shares. The stock had previously closed at $10.14.
Several other research analysts have also issued reports on the company. Barclays assumed coverage on R1 RCM in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $14.00 target price on the stock. Morgan Stanley upgraded R1 RCM from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $17.50 to $17.00 in a research report on Friday, December 15th. Citigroup assumed coverage on R1 RCM in a research report on Friday, September 22nd. They issued a “buy” rating and a $20.00 target price on the stock. Evercore ISI cut their price target on R1 RCM from $21.00 to $20.00 in a report on Wednesday, October 11th. Finally, JPMorgan Chase & Co. cut R1 RCM from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $20.00 to $11.00 in a research note on Wednesday, December 13th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.00.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in R1 RCM by 5.6% in the 3rd quarter. Vanguard Group Inc. now owns 17,940,792 shares of the healthcare provider’s stock valued at $270,368,000 after buying an additional 947,310 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of R1 RCM by 99.4% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 45,567 shares of the healthcare provider’s stock worth $686,000 after purchasing an additional 22,710 shares during the period. Neo Ivy Capital Management purchased a new stake in shares of R1 RCM during the third quarter valued at $269,000. Polar Capital Holdings Plc lifted its holdings in shares of R1 RCM by 0.5% during the third quarter. Polar Capital Holdings Plc now owns 4,696,412 shares of the healthcare provider’s stock valued at $70,775,000 after purchasing an additional 22,550 shares during the last quarter. Finally, Comerica Bank purchased a new stake in R1 RCM in the 3rd quarter worth about $1,202,000. Institutional investors and hedge funds own 61.10% of the company’s stock.
R1 RCM Price Performance
The company has a debt-to-equity ratio of 0.60, a current ratio of 1.89 and a quick ratio of 1.89. The firm has a 50 day moving average of $10.68 and a 200-day moving average of $14.14.
About R1 RCM
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.