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

R1 RCM Inc. (NASDAQ:RCM)’s stock price 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.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RCM. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $19.00 target price on shares of R1 RCM in a research report on Thursday, March 7th. KeyCorp reaffirmed a “sector weight” rating on shares of R1 RCM in a report on Wednesday, April 10th. Morgan Stanley reissued an “overweight” rating and set a $17.00 target price on shares of R1 RCM in a research note on Tuesday, March 26th. Evercore ISI restated an “in-line” rating and issued a $16.00 price target (up previously from $12.00) on shares of R1 RCM in a research note on Wednesday, February 28th. Finally, Truist Financial reaffirmed a “hold” rating and set a $16.00 price target on shares of R1 RCM in a report on Monday, April 1st. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, R1 RCM has a consensus rating of “Moderate Buy” and a consensus price target of $16.87.

R1 RCM Stock Performance

The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.57. The stock has a 50 day moving average price of $12.86 and a 200 day moving average price of $11.42.

Insiders Place Their Bets

In other R1 RCM news, President John M. Sparby sold 10,046 shares of the company’s 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 completion of the sale, the president now directly owns 265,986 shares of the company’s stock, valued at approximately $3,811,579.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 36.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Retirement Systems of Alabama lifted its position in shares of R1 RCM by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 247,476 shares of the healthcare provider’s stock valued at $3,187,000 after acquiring an additional 856 shares during the last quarter. New York State Teachers Retirement System raised its position in shares of R1 RCM by 1.4% during the first quarter. New York State Teachers Retirement System now owns 141,821 shares of the healthcare provider’s stock worth $1,827,000 after purchasing an additional 1,900 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of R1 RCM by 2.5% during the first quarter. Louisiana State Employees Retirement System now owns 56,700 shares of the healthcare provider’s stock valued at $730,000 after purchasing an additional 1,400 shares during the last quarter. Revisor Wealth Management LLC acquired a new position in shares of R1 RCM in the 1st quarter valued at $306,000. Finally, State of Michigan Retirement System increased its stake in R1 RCM by 2.5% in the 1st quarter. State of Michigan Retirement System now owns 48,401 shares of the healthcare provider’s stock worth $623,000 after purchasing an additional 1,200 shares in the last quarter. Institutional investors own 61.10% of the company’s stock.

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.