R1 RCM (RCM) Shares Up 5.2%

R1 RCM Inc (NASDAQ:RCM)’s share price traded up 5.2% during mid-day trading on Wednesday . The stock traded as high as $9.04 and last traded at $8.89. 1,621,354 shares traded hands during trading, an increase of 152% from the average session volume of 642,306 shares. The stock had previously closed at $8.45.

A number of brokerages have commented on RCM. Chardan Capital initiated coverage on R1 RCM in a report on Tuesday, September 4th. They issued a “buy” rating and a $17.00 price objective on the stock. BidaskClub raised R1 RCM from a “hold” rating to a “buy” rating in a research note on Thursday, August 30th. TheStreet raised R1 RCM from a “d+” rating to a “c” rating in a research report on Tuesday, September 4th. Cantor Fitzgerald lifted their price target on R1 RCM from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Friday, August 10th. Finally, Zacks Investment Research upgraded R1 RCM from a “sell” rating to a “hold” rating in a research note on Wednesday, October 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $11.05.

The stock has a market capitalization of $980.00 million, a P/E ratio of -20.59 and a beta of -0.32. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 37.41.

R1 RCM (NASDAQ:RCM) last announced its earnings results on Wednesday, November 7th. The financial services provider reported ($0.17) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.12). R1 RCM had a negative net margin of 10.70% and a negative return on equity of 132.32%. The business had revenue of $250.40 million for the quarter, compared to analysts’ expectations of $240.09 million. During the same quarter last year, the firm earned ($0.08) EPS. The firm’s quarterly revenue was up 103.2% on a year-over-year basis. On average, analysts expect that R1 RCM Inc will post -0.18 earnings per share for the current fiscal year.

In related news, Director Charles J. Ditkoff sold 20,635 shares of the company’s stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $8.47, for a total transaction of $174,778.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Albert Rene Zimmerli acquired 10,000 shares of the business’s stock in a transaction on Thursday, September 6th. The stock was acquired at an average price of $9.73 per share, with a total value of $97,300.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at approximately $97,300. The disclosure for this purchase can be found here. 59.40% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the stock. Rhumbline Advisers boosted its position in R1 RCM by 6.3% in the 2nd quarter. Rhumbline Advisers now owns 97,414 shares of the financial services provider’s stock valued at $846,000 after buying an additional 5,770 shares during the period. United Services Automobile Association grew its position in R1 RCM by 45.9% during the 3rd quarter. United Services Automobile Association now owns 21,806 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 6,858 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in R1 RCM by 49.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 20,946 shares of the financial services provider’s stock worth $182,000 after purchasing an additional 6,938 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its position in R1 RCM by 26.1% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 34,619 shares of the financial services provider’s stock worth $300,000 after purchasing an additional 7,155 shares during the last quarter. Finally, Swiss National Bank grew its position in R1 RCM by 5.5% during the 3rd quarter. Swiss National Bank now owns 153,000 shares of the financial services provider’s stock worth $1,554,000 after purchasing an additional 8,000 shares during the last quarter. 54.08% of the stock is owned by hedge funds and other institutional investors.

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About R1 RCM (NASDAQ:RCM)

R1 RCM Inc provides revenue cycle management (RCM) for healthcare providers in the United States. It offers end-to-end RCM services to manage their revenue cycle operations, which encompass patient registration, insurance and benefit verification, medical treatment documentation and coding, and bill preparation and collection from patients and payers.

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