JPMorgan Chase & Co. Begins Coverage on R1 RCM (NASDAQ:RCM)

Equities researchers at JPMorgan Chase & Co. began coverage on shares of R1 RCM (NASDAQ:RCM) in a note issued to investors on Thursday, The Fly reports. The brokerage set an “overweight” rating and a $27.00 price target on the healthcare provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 18.47% from the company’s previous close.

Several other equities research analysts also recently weighed in on the company. Robert W. Baird reaffirmed a “buy” rating on shares of R1 RCM in a research report on Thursday, August 19th. Barclays initiated coverage on R1 RCM in a research report on Thursday, September 30th. They set an “overweight” rating and a $28.00 price target on the stock. Bank of America initiated coverage on R1 RCM in a research report on Thursday, July 22nd. They set a “buy” rating and a $27.00 price target on the stock. Finally, Zacks Investment Research downgraded R1 RCM from a “hold” rating to a “sell” rating in a research report on Friday, August 6th. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $28.33.

Shares of RCM opened at $22.79 on Thursday. The firm has a market cap of $6.36 billion, a PE ratio of -11.06 and a beta of 0.79. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 1.55. The stock has a fifty day moving average price of $20.78 and a 200-day moving average price of $22.47. R1 RCM has a 12 month low of $16.62 and a 12 month high of $31.28.

R1 RCM (NASDAQ:RCM) last issued its earnings results on Tuesday, August 3rd. The healthcare provider reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.03). The firm had revenue of $353.40 million during the quarter, compared to analysts’ expectations of $343.94 million. R1 RCM had a return on equity of 49.25% and a net margin of 9.61%. The business’s revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the business earned $0.04 EPS. As a group, research analysts forecast that R1 RCM will post -2.01 EPS for the current year.

In related news, insider Richard B. Jr. Evans sold 7,000 shares of R1 RCM stock in a transaction dated Thursday, August 12th. The stock was sold at an average price of $20.08, for a total value of $140,560.00. Following the sale, the insider now directly owns 164,543 shares in the company, valued at approximately $3,304,023.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 59.40% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Penn Capital Management Co. Inc. lifted its stake in R1 RCM by 7.0% in the 1st quarter. Penn Capital Management Co. Inc. now owns 336,596 shares of the healthcare provider’s stock worth $8,307,000 after purchasing an additional 21,916 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in R1 RCM in the 1st quarter worth approximately $6,859,000. AlphaCrest Capital Management LLC lifted its stake in R1 RCM by 117.6% in the 2nd quarter. AlphaCrest Capital Management LLC now owns 82,040 shares of the healthcare provider’s stock worth $1,825,000 after purchasing an additional 44,344 shares in the last quarter. Geode Capital Management LLC raised its position in shares of R1 RCM by 15.6% during the 1st quarter. Geode Capital Management LLC now owns 2,005,826 shares of the healthcare provider’s stock valued at $49,503,000 after buying an additional 270,554 shares during the period. Finally, Barclays PLC raised its position in shares of R1 RCM by 8,502.3% during the 1st quarter. Barclays PLC now owns 142,454 shares of the healthcare provider’s stock valued at $3,517,000 after buying an additional 140,798 shares during the period. 41.53% of the stock is currently owned by institutional investors and hedge funds.

R1 RCM Company Profile

R1 RCM, Inc engages in the provision of revenue cycle management to healthcare providers. It offers end-to-end, modular revenue cycle, and physician advisory services. The company was founded by Mary Ann Tolan and J. Michael Cline in July 2003 and is headquartered in Chicago, IL.

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