R1 RCM Inc. (NASDAQ:RCM – Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $11.90, but opened at $12.30. R1 RCM shares last traded at $12.39, with a volume of 335,247 shares.
Analysts Set New Price Targets
Several analysts have commented on the stock. Evercore ISI restated an “in-line” rating and issued a $16.00 price objective (up from $12.00) on shares of R1 RCM in a report on Wednesday, February 28th. Leerink Partnrs reiterated an “outperform” rating on shares of R1 RCM in a report on Monday, February 26th. Citigroup upgraded shares of R1 RCM from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a report on Wednesday, March 20th. SVB Leerink started coverage on shares of R1 RCM in a report on Monday, February 26th. They set an “outperform” rating and a $14.00 target price for the company. Finally, Morgan Stanley reiterated an “overweight” rating and set a $17.00 target price on shares of R1 RCM in a report on Tuesday, March 26th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.87.
View Our Latest Research Report on R1 RCM
R1 RCM Price Performance
Insiders Place Their Bets
In other R1 RCM news, President John M. Sparby sold 10,046 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $3,811,579.38. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 36.80% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in RCM. Headlands Technologies LLC acquired a new position in R1 RCM during the third quarter valued at $36,000. ANTIPODES PARTNERS Ltd increased its holdings in R1 RCM by 429.5% in 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 in the last quarter. Salem Investment Counselors Inc. purchased a new position in R1 RCM in the fourth quarter valued at $61,000. Van ECK Associates Corp increased its holdings in R1 RCM by 20.5% in the fourth quarter. Van ECK Associates Corp now owns 6,141 shares of the healthcare provider’s stock valued at $65,000 after buying an additional 1,044 shares in the last quarter. Finally, Caas Capital Management LP purchased a new position in R1 RCM in the fourth quarter valued at $148,000. 61.10% of the stock is currently owned by institutional investors and hedge funds.
R1 RCM Company Profile
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.
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