BlackRock Fund Advisors recently announced the acquisition of new stake in R1 RCM Inc. (NASDAQ:RCM). The institutional investor has increased its shareholding in the Healthcare company by 10.87% to 15.11 million shares with purchase of 1.48 million shares. This fresh investment now brings its stake to 3.63% valued currently at $214.59 million. In addition, Citadel Advisors LLC raised its holdings by 6.76 million to 11.75 million shares. And Point72 Asset Management LP has lifted its position by 723.80% or 9.51 million shares – to 10.82 million shares.
With over 2.26 million R1 RCM Inc. (RCM) shares trading Monday and a closing price of $13.31 on the day, the dollar volume was approximately $30.1 million. The shares have shown a negative half year performance of -40.23% and its price on 03/13/23 lost nearly -0.08%. Currently, there are 417.70M common shares owned by the public and among those 303.12M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 14 analysts who have offered their price forecasts for RCM have a consensus price objective of $18.75. The analysts have set the share’s price value over the next 12 months at a high of $26.00 and a low of $15.00. The average price target is 28.05% above its recent price level and an upside to the estimated low will see the stock gain 11.27% over that period. But an upside of 48.81% will see the stock hit the forecast high price target while median target price for the stock is $18.50.
Insiders at the company have transacted a total of 68 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 39 of these insider trades were purchases, accounting for 5,609,786 shares. Insider sales of the common stock occurred on 29 occasions, with total insider shares sold totaling 158,813,067 shares.
The top 3 mutual fund holders in R1 RCM Inc. are iShares Core S&P Mid Cap ETF, iShares Russell 2000 ETF, and Vanguard Total Stock Market Index. iShares Core S&P Mid Cap ETF owns 4.29 million shares of the company’s stock, all valued at over $60.94 million. The company bought an additional 9720.0 shares recently to bring their total holdings to about 1.03% of the shares outstanding. iShares Russell 2000 ETF sold 10440.0 shares to see its total holdings shrink to 3.3 million shares valued at over $46.86 million and representing 0.79% of the shares outstanding. Vanguard Total Stock Market Index now owns shares totaling to 0.77% of the shares outstanding.
Shares of R1 RCM Inc. (NASDAQ: RCM) opened at $13.06, down -$0.26 from a prior closing price of $13.32. However, the script later moved the day high at 13.48, down -0.08%. The company’s stock has a 5-day price change of -5.54% and 29.10% over the past three months. RCM shares are trading 21.55% year to date (YTD), with the 12-month market performance down to -48.98% lower. It has a 12-month low price of $6.71 and touched a high of $27.86 over the same period. RCM has an average intraday trading volume of 3.21 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -5.19%, -0.67%, and -22.65% respectively.
Institutional ownership of R1 RCM Inc. (NASDAQ: RCM) shares accounts for 85.10% of the company’s 417.70M shares outstanding. Mutual fund holders own 21.87%, while other institutional holders and individual stakeholders account for 34.25% and 18.21% respectively.
It has a market capitalization of $5.66B and a beta (3y monthly) value of 0.84. The earnings-per-share (ttm) stands at -$0.14. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.68% over the week and 4.30% over the month.
Analysts forecast that R1 RCM Inc. (RCM) will achieve an EPS of -$0.05 for the current quarter, $0.01 for the next quarter and $0.21 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.12 while analysts give the company a high EPS estimate of $0.06. Comparatively, EPS for the current quarter was $0.11 a year ago. Earnings per share for the fiscal year are expected to decrease by -785.00%, and 268.42% over the next financial year. EPS should grow at an annualized rate of -2.50% over the next five years, compared to -37.10% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 14 brokerage firm advisors rate R1 RCM Inc. (RCM) as a “Strong Buy” at a consensus score of 1.80. Specifically, 11 Wall Street analysts polled rate the stock as a buy, while 2 of the 14 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the RCM, a number of firms have released research notes about the stock. Truist stated their Hold rating for the stock in a research note on February 02, 2023, with the firm’s price target at $15. Canaccord Genuity coverage for the R1 RCM Inc. (RCM) stock in a research note released on January 05, 2023 offered a Buy rating with a price target of $14. Guggenheim was of a view on December 07, 2022 that the stock is Buy, while Morgan Stanley gave the stock Equal-Weight rating on December 06, 2022, issuing a price target of $11. Evercore ISI on their part issued Outperform rating on October 24, 2022.
