R1 RCM (NASDAQ:RCM) Stock Price Passes Above 200 Day Moving Average of $11.14

Shares of R1 RCM Inc (NASDAQ:RCM) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.14 and traded as high as $12.49. R1 RCM shares last traded at $12.48, with a volume of 15,354 shares.

Several equities analysts recently issued reports on RCM shares. Zacks Investment Research cut R1 RCM from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. BidaskClub upgraded R1 RCM from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 3rd. Finally, ValuEngine cut R1 RCM from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $14.80.

The company has a market cap of $1.38 billion, a price-to-earnings ratio of -38.73 and a beta of 0.09. The company has a debt-to-equity ratio of 106.30, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a 50-day moving average price of $12.60 and a 200 day moving average price of $11.14.

R1 RCM (NASDAQ:RCM) last released its quarterly earnings results on Tuesday, August 6th. The financial services provider reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.08). R1 RCM had a negative return on equity of 249.01% and a negative net margin of 2.22%. The business had revenue of $295.00 million for the quarter, compared to analyst estimates of $294.11 million. During the same period in the prior year, the business earned ($0.07) EPS. The company’s revenue for the quarter was up 41.9% compared to the same quarter last year. Sell-side analysts expect that R1 RCM Inc will post -0.01 EPS for the current fiscal year.

In related news, Director Charles J. Ditkoff sold 4,099 shares of R1 RCM stock in a transaction that occurred 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 sale, the director now owns 4,099 shares of the company’s stock, valued at approximately $48,040.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 59.40% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of RCM. Bank of New York Mellon Corp grew its stake in R1 RCM by 414.7% in the second quarter. Bank of New York Mellon Corp now owns 2,116,648 shares of the financial services provider’s stock valued at $26,627,000 after purchasing an additional 1,705,447 shares in the last quarter. Citadel Advisors LLC boosted its stake in shares of R1 RCM by 1,112.7% during the 2nd quarter. Citadel Advisors LLC now owns 724,997 shares of the financial services provider’s stock worth $9,120,000 after acquiring an additional 665,215 shares during the period. SG Americas Securities LLC boosted its stake in shares of R1 RCM by 4,379.7% during the 2nd quarter. SG Americas Securities LLC now owns 656,772 shares of the financial services provider’s stock worth $8,262,000 after acquiring an additional 642,111 shares during the period. Nuveen Asset Management LLC bought a new position in shares of R1 RCM during the 2nd quarter worth approximately $7,505,000. Finally, RK Capital Management LLC bought a new position in shares of R1 RCM during the 2nd quarter worth approximately $5,712,000. Hedge funds and other institutional investors own 70.20% of the company’s stock.

R1 RCM Company Profile (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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