R1 RCM (NASDAQ:RCM) Shares Gap Up to $11.90

R1 RCM Inc. (NASDAQ:RCM) gapped up before the market opened 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 changing hands.

Analysts Set New Price Targets

Several equities analysts have weighed in on RCM shares. Guggenheim reduced their price objective on R1 RCM from $17.00 to $15.00 and set a “buy” rating for the company in a report on Friday, April 5th. Royal Bank of Canada reissued an “outperform” rating and set a $19.00 price objective on shares of R1 RCM in a report on Thursday, March 7th. Canaccord Genuity Group reduced their price objective on R1 RCM from $17.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, March 20th. Citigroup raised R1 RCM from a “neutral” rating to a “buy” rating and set a $16.00 price target for the company in a report on Wednesday, March 20th. Finally, Leerink Partnrs reissued an “outperform” rating on shares of R1 RCM in a research note on Monday, February 26th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.87.

R1 RCM Stock Up 4.3 %

The firm’s fifty day simple moving average is $12.83 and its 200 day simple moving average is $11.42. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.57.

Insider Buying and Selling

In related 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 sale, the president now directly owns 265,986 shares of the company’s stock, valued at approximately $3,811,579.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 36.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On R1 RCM

A number of large investors have recently made changes to their positions in RCM. PNC Financial Services Group Inc. increased its stake in shares of R1 RCM by 4.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 19,601 shares of the healthcare provider’s stock worth $207,000 after purchasing an additional 908 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of R1 RCM by 20.5% in the 4th quarter. Van ECK Associates Corp now owns 6,141 shares of the healthcare provider’s stock worth $65,000 after acquiring an additional 1,044 shares during the last quarter. State of Michigan Retirement System lifted its holdings in R1 RCM by 2.5% during the 1st quarter. State of Michigan Retirement System now owns 48,401 shares of the healthcare provider’s stock worth $623,000 after buying an additional 1,200 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in R1 RCM by 4.2% during the 3rd quarter. Victory Capital Management Inc. now owns 31,275 shares of the healthcare provider’s stock worth $471,000 after buying an additional 1,250 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its holdings in R1 RCM by 2.5% during the 1st quarter. Louisiana State Employees Retirement System now owns 56,700 shares of the healthcare provider’s stock worth $730,000 after buying an additional 1,400 shares in the last quarter. 61.10% of the stock is owned by hedge funds and other institutional investors.

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.