R1 RCM (NASDAQ:RCM) Reaches New 1-Year High at $13.09

R1 RCM Inc (NASDAQ:RCM) hit a new 52-week high on Friday . The stock traded as high as $13.09 and last traded at $13.02, with a volume of 626020 shares. The stock had previously closed at $12.84.

A number of equities research analysts recently commented on the company. Cantor Fitzgerald set a $9.00 target price on Evofem Biosciences and gave the stock a “buy” rating in a report on Friday, April 12th. BidaskClub raised Misonix from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 3rd. Finally, Zacks Investment Research downgraded ExlService from a “hold” rating to a “sell” rating in a report on Wednesday. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $14.80.

The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 118.26. The company has a 50 day moving average of $12.13. The stock has a market capitalization of $1.42 billion, a PE ratio of -40.69 and a beta of 0.08.

R1 RCM (NASDAQ:RCM) last issued its quarterly earnings results on Thursday, May 9th. The financial services provider reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.01. The firm had revenue of $275.90 million for the quarter, compared to analyst estimates of $266.37 million. R1 RCM had a negative return on equity of 118.28% and a negative net margin of 2.19%. The business’s revenue was up 87.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.26) earnings per share. On average, equities analysts anticipate that R1 RCM Inc will post 0.13 earnings per share for the current year.

In other news, Director Charles J. Ditkoff sold 4,099 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $11.72, for a total value of $48,040.28. Following the transaction, the director now owns 4,099 shares of the company’s stock, valued at approximately $48,040.28. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 59.40% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its holdings in R1 RCM by 64.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,463 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 2,926 shares during the period. Quantamental Technologies LLC purchased a new stake in R1 RCM during the 1st quarter worth about $67,000. Amalgamated Bank purchased a new stake in R1 RCM during the 4th quarter worth about $123,000. SG Americas Securities LLC purchased a new stake in R1 RCM during the 1st quarter worth about $142,000. Finally, Bessemer Group Inc. purchased a new stake in R1 RCM during the 4th quarter worth about $156,000. Hedge funds and other institutional investors own 69.69% of the company’s stock.

About R1 RCM (NASDAQ:RCM)

R1 RCM Inc provides revenue cycle management (RCM) for healthcare providers in the United States. It offers end-to-end RCM services to manage their revenue cycle operations, which encompass patient registration, insurance and benefit verification, medical treatment documentation and coding, and bill preparation and collection from patients and payers.

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