R1 RCM Inc (NASDAQ:RCM) was the target of a large decrease in short interest in October. As of October 31st, there was short interest totalling 6,590,000 shares, a decrease of 6.7% from the September 30th total of 7,060,000 shares. Approximately 6.8% of the shares of the company are short sold. Based on an average daily volume of 1,070,000 shares, the days-to-cover ratio is presently 6.2 days.
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NASDAQ:RCM traded up $0.19 during trading hours on Monday, reaching $12.95. 36,811 shares of the company were exchanged, compared to its average volume of 1,147,295. The stock’s 50-day moving average is $10.73 and its 200-day moving average is $11.52. The firm has a market cap of $1.43 billion, a PE ratio of -40.41 and a beta of 0.15. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 29.28. R1 RCM has a twelve month low of $7.10 and a twelve month high of $13.19.
R1 RCM (NASDAQ:RCM) last issued its earnings results on Tuesday, November 5th. The healthcare provider reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.08). R1 RCM had a negative net margin of 0.13% and a positive return on equity of 100.31%. The business had revenue of $301.20 million during the quarter, compared to analyst estimates of $302.85 million. During the same quarter last year, the company earned ($0.17) earnings per share. R1 RCM’s quarterly revenue was up 20.3% on a year-over-year basis.
A number of research analysts have issued reports on RCM shares. BidaskClub upgraded shares of R1 RCM from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. ValuEngine raised shares of R1 RCM from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Zacks Investment Research downgraded shares of R1 RCM from a “buy” rating to a “hold” rating in a report on Saturday, November 9th. Finally, Robert W. Baird set a $14.00 price objective on shares of R1 RCM and gave the company a “buy” rating in a report on Thursday, September 12th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $13.40.
A number of institutional investors have recently added to or reduced their stakes in the stock. Insight Wealth Strategies LLC increased its position in R1 RCM by 18.6% during the third quarter. Insight Wealth Strategies LLC now owns 220,515 shares of the healthcare provider’s stock worth $1,969,000 after purchasing an additional 34,587 shares during the last quarter. Eagle Asset Management Inc. purchased a new position in R1 RCM during the third quarter worth about $5,743,000. Mackay Shields LLC purchased a new position in R1 RCM during the third quarter worth about $2,792,000. California Public Employees Retirement System boosted its stake in R1 RCM by 87.0% during the third quarter. California Public Employees Retirement System now owns 297,608 shares of the healthcare provider’s stock worth $2,658,000 after buying an additional 138,461 shares during the period. Finally, State of New Jersey Common Pension Fund D purchased a new position in R1 RCM during the third quarter worth about $1,578,000. Hedge funds and other institutional investors own 71.23% of the company’s stock.
R1 RCM Company Profile
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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