R1 RCM Inc. (NASDAQ:RCM) Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its stake in R1 RCM Inc. (NASDAQ:RCM) by 2.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 491,543 shares of the healthcare provider’s stock after selling 13,691 shares during the period. Rhumbline Advisers owned 0.12% of R1 RCM worth $6,174,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in RCM. CIBC Asset Management Inc acquired a new stake in R1 RCM during the second quarter valued at approximately $149,000. BW Gestao de Investimentos Ltda. increased its stake in R1 RCM by 14.9% in the 2nd quarter. BW Gestao de Investimentos Ltda. now owns 1,027,220 shares of the healthcare provider’s stock worth $12,902,000 after purchasing an additional 133,324 shares in the last quarter. Pentwater Capital Management LP acquired a new stake in R1 RCM during the 2nd quarter worth about $2,512,000. Intact Investment Management Inc. purchased a new stake in R1 RCM during the second quarter valued at about $621,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of R1 RCM by 26.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,902 shares of the healthcare provider’s stock worth $551,000 after buying an additional 9,149 shares during the period. Institutional investors and hedge funds own 61.10% of the company’s stock.

R1 RCM Stock Performance

Shares of RCM opened at $14.12 on Friday. The stock has a fifty day moving average price of $13.65 and a two-hundred day moving average price of $13.00. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market cap of $5.96 billion, a price-to-earnings ratio of -176.50 and a beta of 0.84. R1 RCM Inc. has a 52-week low of $8.87 and a 52-week high of $16.65.

R1 RCM (NASDAQ:RCM) last announced its quarterly earnings data on Wednesday, August 7th. The healthcare provider reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The firm had revenue of $627.90 million for the quarter, compared to analyst estimates of $633.10 million. R1 RCM had a negative return on equity of 1.44% and a negative net margin of 1.68%. The firm’s revenue was up 12.0% compared to the same quarter last year. Analysts predict that R1 RCM Inc. will post -0.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on RCM shares. Jefferies Financial Group lowered shares of R1 RCM from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Morgan Stanley cut shares of R1 RCM from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 8th. Stephens cut R1 RCM from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $19.00 target price on shares of R1 RCM in a research report on Friday, June 28th. Finally, Truist Financial lowered their price target on R1 RCM from $16.00 to $14.30 and set a “hold” rating for the company in a research note on Thursday, August 8th. Thirteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $15.41.

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.