Morgan Stanley Reiterates “Overweight” Rating for R1 RCM (NASDAQ:RCM)

Morgan Stanley restated their overweight rating on shares of R1 RCM (NASDAQ:RCM) in a research note published on Tuesday, Benzinga reports. The brokerage currently has a $17.00 price target on the healthcare provider’s stock.

Other analysts have also issued research reports about the company. Evercore ISI reiterated an in-line rating and set a $16.00 price objective (up previously from $12.00) on shares of R1 RCM in a report on Wednesday, February 28th. Royal Bank of Canada reiterated an outperform rating and set a $19.00 price objective on shares of R1 RCM in a research note on Thursday, March 7th. Barclays restated an equal weight rating and set a $14.00 target price on shares of R1 RCM in a research report on Wednesday, February 28th. JPMorgan Chase & Co. cut R1 RCM from an overweight rating to a neutral rating and dropped their target price for the company from $20.00 to $11.00 in a research report on Wednesday, December 13th. Finally, Citigroup upgraded R1 RCM from a neutral rating to a buy rating and set a $16.00 target price on the stock in a research report on Wednesday, March 20th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $17.35.

R1 RCM Stock Performance

Shares of NASDAQ RCM opened at $12.88 on Tuesday. 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’s fifty day simple moving average is $12.12 and its two-hundred day simple moving average is $11.86. R1 RCM has a 12-month low of $8.87 and a 12-month high of $18.70.

Insiders Place Their Bets

In other R1 RCM news, President John M. Sparby sold 10,046 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $14.33, for a total value of $143,959.18. Following the transaction, 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 available at the SEC website. Corporate insiders own 37.00% of the company’s stock.

Institutional Trading of R1 RCM

Several institutional investors have recently made changes to their positions in the company. Macquarie Group Ltd. raised its position in shares of R1 RCM by 11.0% during the 2nd quarter. Macquarie Group Ltd. now owns 4,159 shares of the healthcare provider’s stock valued at $88,000 after buying an additional 411 shares during the period. EFG Asset Management Americas Corp. raised its position in shares of R1 RCM by 4.3% during the 2nd quarter. EFG Asset Management Americas Corp. now owns 18,095 shares of the healthcare provider’s stock valued at $334,000 after buying an additional 740 shares during the period. Captrust Financial Advisors raised its position in shares of R1 RCM by 81.7% during the 2nd quarter. Captrust Financial Advisors now owns 1,664 shares of the healthcare provider’s stock valued at $35,000 after buying an additional 748 shares during the period. State of Wyoming raised its position in shares of R1 RCM by 29.6% during the 2nd quarter. State of Wyoming now owns 3,333 shares of the healthcare provider’s stock valued at $61,000 after buying an additional 762 shares during the period. Finally, Robertson Stephens Wealth Management LLC raised its position in R1 RCM by 1.3% in the second quarter. Robertson Stephens Wealth Management LLC now owns 63,381 shares of the healthcare provider’s stock valued at $1,169,000 after purchasing an additional 838 shares during the period. Hedge funds and other 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.