R1 RCM (NASDAQ:RCM) Shares Gap Up to $12.45

Shares of R1 RCM Inc. (NASDAQ:RCM) gapped up prior to trading on Wednesday . The stock had previously closed at $12.45, but opened at $13.20. R1 RCM shares last traded at $13.16, with a volume of 2,070,294 shares.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on RCM shares. Leerink Partnrs reaffirmed an “outperform” rating on shares of R1 RCM in a research report on Monday, February 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $20.00 target price on shares of R1 RCM in a research report on Wednesday, April 10th. Truist Financial reissued a “hold” rating and issued a $16.00 price target on shares of R1 RCM in a research report on Monday, April 1st. Canaccord Genuity Group decreased their target price on R1 RCM from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, March 20th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $17.00 price target on shares of R1 RCM in a research report on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.87.

R1 RCM Stock Performance

The company has a debt-to-equity ratio of 0.57, a current ratio of 1.83 and a quick ratio of 1.83. The stock has a fifty day simple moving average of $12.91 and a two-hundred day simple moving average of $11.45.

Insider Activity

In other news, President John M. Sparby sold 10,046 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $14.33, for a total value of $143,959.18. Following the completion of the transaction, the president now owns 265,986 shares in the company, valued at approximately $3,811,579.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 36.80% of the company’s stock.

Institutional Investors Weigh In On R1 RCM

A number of large investors have recently added to or reduced their stakes in RCM. Headlands Technologies LLC purchased a new stake in R1 RCM during the 3rd quarter worth about $36,000. Van ECK Associates Corp raised its position in shares of R1 RCM by 28.5% in the third quarter. Van ECK Associates Corp now owns 5,097 shares of the healthcare provider’s stock valued at $77,000 after buying an additional 1,130 shares during the last quarter. ANTIPODES PARTNERS Ltd lifted its stake in shares of R1 RCM by 429.5% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 5,623 shares of the healthcare provider’s stock valued at $59,000 after buying an additional 4,561 shares during the period. Salem Investment Counselors Inc. acquired a new stake in R1 RCM during the fourth quarter worth approximately $61,000. Finally, QRG Capital Management Inc. purchased a new stake in R1 RCM in the 1st quarter worth approximately $132,000. 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.