KeyCorp Raises R1 RCM (NASDAQ:RCM) Price Target to $17.00

R1 RCM, a company providing technology-enabled healthcare services, has seen its target stock price raised from $13.00 to $17.00 by analysts at KeyCorp. This revision was reported on Thursday and suggests that the healthcare provider's stock has robust growth potential. Currently, R1 RCM holds an 'overweight' rating from the firm, implying an anticipated increase of 21.43% from its previous stock price.

Analyst Ratings and Stock Performance

Alongside KeyCorp's adjustment, other analysts have also issued reports on R1 RCM's performance. Notably, Morgan Stanley elevated the company from 'equal weight' to 'overweight,' while adjusting their target price slightly from $17.50 to $17.00. Conversely, TheStreet lowered their rating due to performance concerns. On a positive note, Cantor Fitzgerald reiterated their 'overweight' rating with a target price of $20.00. Barclays maintained an 'equal weight' status and a price target of $14.00. Meanwhile, Leerink Partnrs confirmed their 'outperform' rating. Based on MarketBeat data, R1 RCM currently has a 'Moderate Buy' average rating from analysts and a consensus target price slightly above KeyCorp's recommendation at $17.53.

Recent Financial Highlights

On the financial side, R1 RCM opened at $14.00 on Thursday. The stock has experienced a low of $8.87 and a high of $18.70 over the past year. It's been trending positively with a 50-day simple moving average of $10.73 and a 200-day simple moving average of $12.32. The firm's financial health indicators include a current ratio of 1.83, a quick ratio of 1.89, and a debt-to-equity ratio of 0.57.

Institutional Investments

Institutional investments are notable, with various hedge funds and financial institutions adjusting their stakes in R1 RCM. These actions demonstrate confidence in the company's future prospects, as seen with new investments and increased shareholdings by firms including Point72 Middle East and Captrust Financial Advisors. Currently, institutional investors own a substantial 61.10% of R1 RCM's stock.

About R1 RCM

R1 RCM Inc specializes in offering comprehensive revenue cycle management (RCM) solutions, designed to improve both the patient experience and the financial outcomes for healthcare providers such as hospitals, health systems, and physician groups.

healthcare, stock, investment