Covestor Ltd Decreases Stock Position in R1 RCM Inc. (NASDAQ:RCM)

Covestor Ltd cut its holdings in shares of R1 RCM Inc. (NASDAQ:RCM) by 80.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,362 shares of the healthcare provider’s stock after selling 18,089 shares during the quarter. Covestor Ltd’s holdings in R1 RCM were worth $62,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Values First Advisors Inc. bought a new position in R1 RCM in the 3rd quarter worth about $88,000. Allspring Global Investments Holdings LLC boosted its holdings in R1 RCM by 589.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,122 shares of the healthcare provider’s stock valued at $44,000 after purchasing an additional 2,669 shares during the period. Creative Planning bought a new position in shares of R1 RCM in the third quarter worth $142,000. GAMMA Investing LLC increased its stake in R1 RCM by 41.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,597 shares of the healthcare provider’s stock worth $37,000 after acquiring an additional 759 shares during the last quarter. Finally, Bardin Hill Management Partners LP raised its holdings in shares of R1 RCM by 98.7% in the 2nd quarter. Bardin Hill Management Partners LP now owns 525,211 shares of the healthcare provider’s stock valued at $6,597,000 after acquiring an additional 260,891 shares in the last quarter. Institutional investors own 61.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group cut R1 RCM from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $15.00 target price on shares of R1 RCM in a research note on Monday, July 22nd. Cantor Fitzgerald reissued a “neutral” rating and set a $14.30 price target on shares of R1 RCM in a research note on Friday, October 4th. Stephens lowered shares of R1 RCM from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 1st. Finally, TD Cowen restated a “hold” rating and set a $14.30 price target (down from $20.00) on shares of R1 RCM in a research report on Monday, August 5th. Thirteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $15.41.

R1 RCM Price Performance

Shares of RCM stock opened at $14.30 on Friday. The business’s fifty day moving average is $14.21 and its 200 day moving average is $13.38. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.76. The stock has a market cap of $6.04 billion, a price-to-earnings ratio of -95.33 and a beta of 0.84. R1 RCM Inc. has a twelve month low of $8.87 and a twelve month high of $15.12.

R1 RCM (NASDAQ:RCM) last announced its earnings results on Tuesday, November 5th. The healthcare provider reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). The business had revenue of $656.80 million for the quarter, compared to the consensus estimate of $640.93 million. R1 RCM had a negative net margin of 2.48% and a negative return on equity of 2.18%. The business’s revenue was up 14.7% on a year-over-year basis. Research analysts expect that R1 RCM Inc. will post -0.38 EPS for the current fiscal year.

R1 RCM Profile

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.