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

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RCM. Leerink Partnrs restated an “outperform” rating on shares of R1 RCM in a research report on Monday, February 26th. Evercore ISI reiterated an “in-line” rating and issued a $16.00 price objective (up from $12.00) on shares of R1 RCM in a research report on Wednesday, February 28th. Canaccord Genuity Group cut their price objective on shares of R1 RCM from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, March 20th. Guggenheim lowered their target price on shares of R1 RCM from $17.00 to $15.00 and set a “buy” rating for the company in a report on Friday, April 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $19.00 price target on shares of R1 RCM in a research note on Thursday, March 7th. Five analysts have rated the stock with a hold rating and eight have given 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 $16.87.

R1 RCM Stock Performance

The stock’s 50-day moving average price is $12.91 and its 200 day moving average price is $11.45. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.57.

Insider Transactions at R1 RCM

In related news, President John M. Sparby sold 10,046 shares of R1 RCM stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $14.33, for a total value of $143,959.18. Following the sale, the president now owns 265,986 shares of the company’s stock, valued at $3,811,579.38. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 36.80% of the company’s stock.

Institutional Trading of R1 RCM

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Voss Capital LLC increased its stake in shares of R1 RCM by 553.9% during the 4th quarter. Voss Capital LLC now owns 7,125,000 shares of the healthcare provider’s stock worth $75,311,000 after purchasing an additional 6,035,340 shares during the last quarter. Norges Bank acquired a new position in R1 RCM during the fourth quarter worth approximately $42,539,000. P2 Capital Partners LLC raised its stake in R1 RCM by 70,366.3% in the fourth quarter. P2 Capital Partners LLC now owns 3,535,294 shares of the healthcare provider’s stock valued at $37,368,000 after buying an additional 3,530,277 shares during the period. Sea Cliff Partners Management LP acquired a new stake in shares of R1 RCM in the fourth quarter valued at approximately $18,459,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of R1 RCM by 81.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,826,545 shares of the healthcare provider’s stock valued at $29,879,000 after buying an additional 1,269,837 shares during the last quarter. 61.10% of the stock is owned by institutional investors.

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.