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

Shares of R1 RCM Inc. (NASDAQ:RCM - Get Free Report) 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 traded.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. SVB Leerink began coverage on R1 RCM in a report on Monday, February 26th. They issued an "outperform" rating and a $14.00 target price on the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $19.00 target price on shares of R1 RCM in a research note on Thursday, March 7th. Leerink Partnrs restated an "outperform" rating on shares of R1 RCM in a report on Monday, February 26th. Guggenheim dropped their price objective on R1 RCM from $17.00 to $15.00 and set a "buy" rating on the stock in a report on Friday, April 5th. Finally, Truist Financial reiterated a "hold" rating and issued a $16.00 target price on shares of R1 RCM in a research 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 company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $16.87.

R1 RCM Stock Performance

The business's 50-day moving average is $12.91 and its two-hundred day moving average is $11.45. The company has a current ratio of 1.83, a quick 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 the 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 transaction, the president now directly owns 265,986 shares in the company, valued at approximately $3,811,579.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 36.80% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new position in R1 RCM in the third quarter valued at approximately $36,000. Van ECK Associates Corp raised its position in shares of R1 RCM by 28.5% during the 3rd quarter. Van ECK Associates Corp now owns 5,097 shares of the healthcare provider's stock worth $77,000 after acquiring an additional 1,130 shares in the last quarter. ANTIPODES PARTNERS Ltd grew its stake in R1 RCM by 429.5% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 5,623 shares of the healthcare provider's stock worth $59,000 after buying an additional 4,561 shares during the last quarter. Salem Investment Counselors Inc. acquired a new position in shares of R1 RCM in the fourth quarter valued at approximately $61,000. Finally, QRG Capital Management Inc. acquired a new position in R1 RCM during the first quarter worth $132,000. 61.10% of the stock is currently 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.