Morgan Stanley Reiterates “Overweight” Rating for R1 RCM (NASDAQ:RCM)

Morgan Stanley restated their overweight rating on shares of R1 RCM (NASDAQ:RCM) in a research note released on Tuesday, Benzinga reports. The brokerage currently has a $17.00 target price on the healthcare provider’s stock.

RCM has been the topic of several other reports. Citigroup upgraded shares of R1 RCM from a neutral rating to a buy rating and set a $16.00 target price on the stock in a research report on Wednesday, March 20th. Leerink Partnrs restated an outperform rating on shares of R1 RCM in a research report on Monday, February 26th. Canaccord Genuity Group lowered their price target on shares of R1 RCM from $17.00 to $16.00 and set a buy rating on the stock in a research report on Wednesday, March 20th. Barclays reiterated an equal weight rating and issued a $14.00 price target on shares of R1 RCM in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $19.00 price target on shares of R1 RCM in a research report on Thursday, March 7th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, R1 RCM currently has a consensus rating of Moderate Buy and a consensus price target of $17.35.

R1 RCM Price Performance

Shares of RCM opened at $12.88 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.83 and a current ratio of 1.83. The firm’s 50-day moving average is $12.12 and its two-hundred day moving average is $11.86. R1 RCM has a twelve month low of $8.87 and a twelve month high of $18.70.

Insider Buying and Selling

In other R1 RCM news, President John M. Sparby sold 10,046 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $14.33, for a total transaction of $143,959.18. Following the transaction, the president now owns 265,986 shares of the company’s stock, valued at $3,811,579.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 37.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On R1 RCM

A number of large investors have recently bought and sold shares of the stock. Macquarie Group Ltd. raised its stake in R1 RCM by 11.0% during the second quarter. Macquarie Group Ltd. now owns 4,159 shares of the healthcare provider’s stock worth $88,000 after purchasing an additional 411 shares during the period. EFG Asset Management Americas Corp. raised its stake in shares of R1 RCM by 4.3% in the 2nd quarter. EFG Asset Management Americas Corp. now owns 18,095 shares of the healthcare provider’s stock valued at $334,000 after acquiring an additional 740 shares during the period. Captrust Financial Advisors increased its stake in R1 RCM by 81.7% during the 2nd quarter. Captrust Financial Advisors now owns 1,664 shares of the healthcare provider’s stock worth $35,000 after buying an additional 748 shares during the period. State of Wyoming increased its stake in R1 RCM by 29.6% during the 2nd quarter. State of Wyoming now owns 3,333 shares of the healthcare provider’s stock worth $61,000 after buying an additional 762 shares during the period. Finally, Robertson Stephens Wealth Management LLC increased its stake in R1 RCM by 1.3% during the 2nd quarter. Robertson Stephens Wealth Management LLC now owns 63,381 shares of the healthcare provider’s stock worth $1,169,000 after buying an additional 838 shares during the period. Hedge funds and other institutional investors own 61.10% of the company’s stock.

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.