Public Employees Retirement System of Ohio Grows Stock Holdings in R1 RCM Inc. (NASDAQ:RCM)

Public Employees Retirement System of Ohio lifted its holdings in R1 RCM Inc. (NASDAQ:RCM) by 42.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 84,968 shares of the healthcare provider’s stock after acquiring an additional 25,163 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in R1 RCM were worth $1,204,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Glazer Capital LLC acquired a new position in R1 RCM in the third quarter valued at approximately $135,678,000. Dimensional Fund Advisors LP lifted its stake in shares of R1 RCM by 4.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,154,888 shares of the healthcare provider’s stock valued at $39,624,000 after purchasing an additional 136,808 shares during the period. Sea Cliff Partners Management LP boosted its holdings in R1 RCM by 14.3% during the second quarter. Sea Cliff Partners Management LP now owns 2,437,450 shares of the healthcare provider’s stock worth $30,614,000 after buying an additional 305,672 shares in the last quarter. Empyrean Capital Partners LP acquired a new stake in R1 RCM during the second quarter valued at $26,376,000. Finally, Alpine Associates Management Inc. purchased a new position in R1 RCM in the third quarter valued at $25,680,000. Hedge funds and other institutional investors own 61.10% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald reissued a “neutral” rating and set a $14.30 target price on shares of R1 RCM in a research note on Friday, October 4th. Twelve research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, R1 RCM has a consensus rating of “Hold” and a consensus price target of $15.73.

R1 RCM Price Performance

Shares of R1 RCM stock opened at $14.31 on Friday. The stock has a market capitalization of $6.04 billion, a P/E ratio of -95.39 and a beta of 0.84. The business has a 50 day simple moving average of $14.28 and a two-hundred day simple moving average of $13.71. R1 RCM Inc. has a 12 month low of $8.87 and a 12 month high of $15.12. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.79 and a quick ratio of 1.79.

R1 RCM (NASDAQ:RCM) last posted its quarterly earnings data on Tuesday, November 5th. The healthcare provider reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.04). R1 RCM had a negative net margin of 2.48% and a negative return on equity of 2.18%. The firm had revenue of $656.80 million during the quarter, compared to analyst estimates of $640.93 million. R1 RCM’s quarterly revenue was up 14.7% on a year-over-year basis. As a group, analysts predict that R1 RCM Inc. will post -0.18 EPS for the current fiscal year.

About R1 RCM

R1 RCM Inc provides technology-driven solutions for the financial performance and patient experience of health systems, hospitals, and physician groups. It provides operating partnership/end-to-end solutions, which manages multiple aspects of the revenue cycle to realize financial leverage and revenue improvement for hospital and physician customers.