R1 RCM (NASDAQ:RCM) Stock Price Passes Above 200 Day Moving Average - Here's Why

R1 RCM Inc. (NASDAQ:RCM - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $13.25 and traded as high as $14.29. R1 RCM shares last traded at $14.28, with a volume of 1,997,833 shares changing hands.

Analyst Ratings Changes

A number of research analysts have recently issued reports on RCM shares. Deutsche Bank Aktiengesellschaft boosted their price objective on R1 RCM from $14.00 to $16.00 and gave the company a "hold" rating in a research note on Tuesday, July 9th. Morgan Stanley downgraded shares of R1 RCM from an "overweight" rating to an "equal weight" rating in a research report on Thursday, August 8th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $15.00 price target on shares of R1 RCM in a research note on Monday, July 22nd. Leerink Partnrs downgraded R1 RCM from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 1st. Finally, Truist Financial lowered their price objective on R1 RCM from $16.00 to $14.30 and set a "hold" rating for the company in a research note on Thursday, August 8th. Thirteen analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $15.41.

R1 RCM Stock Down 0.1 %

The company has a market cap of $6.02 billion, a P/E ratio of -142.80 and a beta of 0.84. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.84 and a quick ratio of 1.84. The company's 50-day moving average is $14.17 and its two-hundred day moving average is $13.27.

R1 RCM (NASDAQ:RCM - Get Free Report) last posted its earnings results on Wednesday, August 7th. The healthcare provider reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. The business had revenue of $627.90 million for the quarter, compared to analysts' expectations of $633.10 million. R1 RCM had a negative net margin of 1.68% and a negative return on equity of 1.44%. The business's quarterly revenue was up 12.0% compared to the same quarter last year. As a group, equities analysts predict that R1 RCM Inc. will post -0.37 earnings per share for the current fiscal year.

Institutional Trading of R1 RCM

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC increased its position in shares of R1 RCM by 41.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,597 shares of the healthcare provider's stock valued at $37,000 after purchasing an additional 759 shares during the last quarter. Arizona State Retirement System lifted its stake in R1 RCM by 2.1% in the second quarter. Arizona State Retirement System now owns 47,063 shares of the healthcare provider's stock worth $591,000 after purchasing an additional 969 shares during the last quarter. QRG Capital Management Inc. boosted its position in shares of R1 RCM by 10.6% during the second quarter. QRG Capital Management Inc. now owns 11,307 shares of the healthcare provider's stock valued at $142,000 after buying an additional 1,080 shares during the period. State of Michigan Retirement System raised its holdings in shares of R1 RCM by 2.5% in the first quarter. State of Michigan Retirement System now owns 48,401 shares of the healthcare provider's stock worth $623,000 after buying an additional 1,200 shares during the period. Finally, Advisors Asset Management Inc. purchased a new position in R1 RCM during the 1st quarter valued at $27,000. 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.