R1 RCM (NASDAQ:RCM) Price Target Raised to $16.00 at Barclays

R1 RCM (NASDAQ:RCM – Get Rating) had its price objective increased by Barclays from $12.00 to $16.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the healthcare provider’s stock. Barclays‘s price target points to a potential upside of 22.79% from the stock’s previous close.

Several other analysts have also recently issued reports on the company. KeyCorp increased their price objective on R1 RCM from $10.00 to $15.00 and gave the company an “overweight” rating in a research note on Monday, December 5th. JPMorgan Chase & Co. reduced their price objective on R1 RCM from $33.00 to $11.00 and set an “overweight” rating on the stock in a research note on Friday, November 18th. Guggenheim upgraded R1 RCM from a “neutral” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Wednesday, December 7th. Canaccord Genuity Group assumed coverage on R1 RCM in a research note on Thursday, January 5th. They issued a “buy” rating and a $14.00 price objective on the stock. Finally, Cowen reduced their price objective on R1 RCM from $34.00 to $25.00 and set an “outperform” rating on the stock in a research note on Monday, November 14th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.64.

R1 RCM Stock Down 1.0 %

RCM opened at $13.03 on Wednesday. R1 RCM has a 52 week low of $6.71 and a 52 week high of $27.86. The business has a fifty day simple moving average of $10.31 and a 200-day simple moving average of $17.15. The firm has a market cap of $5.43 billion, a P/E ratio of 217.17, a P/E/G ratio of 2.71 and a beta of 0.69.

R1 RCM (NASDAQ:RCM – Get Rating) last released its quarterly earnings results on Tuesday, November 8th. The healthcare provider reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.18). R1 RCM had a return on equity of 4.77% and a net margin of 0.93%. The firm had revenue of $496.00 million for the quarter, compared to analysts’ expectations of $522.29 million. Sell-side analysts expect that R1 RCM will post -0.09 earnings per share for the current year.

Hedge Funds Weigh In On R1 RCM

Several hedge funds have recently made changes to their positions in RCM. Alliancebernstein L.P. grew its holdings in shares of R1 RCM by 158.2% during the third quarter. Alliancebernstein L.P. now owns 10,203,602 shares of the healthcare provider’s stock worth $189,073,000 after purchasing an additional 6,251,991 shares during the last quarter. Invesco Ltd. grew its holdings in shares of R1 RCM by 122.0% during the first quarter. Invesco Ltd. now owns 2,931,147 shares of the healthcare provider’s stock worth $78,438,000 after purchasing an additional 1,610,594 shares during the last quarter. Ophir Asset Management Pty Ltd grew its holdings in shares of R1 RCM by 372.1% during the third quarter. Ophir Asset Management Pty Ltd now owns 1,486,243 shares of the healthcare provider’s stock worth $27,540,000 after purchasing an additional 1,171,446 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of R1 RCM by 21.1% during the first quarter. Wellington Management Group LLP now owns 6,223,742 shares of the healthcare provider’s stock worth $166,548,000 after purchasing an additional 1,086,266 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of R1 RCM by 34.3% during the third quarter. Bank of New York Mellon Corp now owns 4,135,301 shares of the healthcare provider’s stock worth $76,626,000 after purchasing an additional 1,057,169 shares during the last quarter. Hedge funds and other institutional investors own 97.09% of the company’s stock.

About R1 RCM

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R1 RCM Inc provides technology-driven solutions that transform the patient experience and financial performance of hospitals, health systems, and medical groups. It offers end-to-end revenue cycle management (RCM) services, which address the spectrum of revenue cycle challenges faced by healthcare providers.