5 Best Mid-Cap Stocks to Buy Now

2. R1 RCM Inc. (NASDAQ:RCM)

Market Cap as of September 2: $8.58 billion

R1 RCM Inc. (NASDAQ:RCM) provides revenue cycle management to hospitals, health systems, and physician groups in the United States.

Earlier in the year, R1 RCM Inc. (NASDAQ:RCM) announced the acquisition of CloudMed for $4.1 billion. CloudMed provides revenue intelligence solutions for healthcare providers. Through the acquisition, R1 RCM Inc. (NASDAQ:RCM) expects to unlock cost synergies of around $85 million by mid-2024 and $98 million at the total run rate. The company also expects revenue injections over time. Before the deal, R1 RCM Inc. (NASDAQ:RCM) covered 95% of net patient revenue, and the rest of the 5% was driven solely by CloudMed.

On August 4, Deutsche Bank analyst George Hill maintained a Buy rating on R1 RCM Inc. (NASDAQ:RCM) and raised his price target to $31 from $26 after its Q2 results.