Choreo LLC Makes New Investment in R1 RCM Inc. (NASDAQ:RCM)

Choreo LLC purchased a new position in R1 RCM Inc. (NASDAQ:RCM) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 37,590 shares of the healthcare provider’s stock, valued at approximately $472,000.

Several other institutional investors have also added to or reduced their stakes in the business. Quest Partners LLC purchased a new stake in shares of R1 RCM in the second quarter worth $378,000. Arizona State Retirement System increased its holdings in shares of R1 RCM by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 47,063 shares of the healthcare provider’s stock worth $591,000 after buying an additional 969 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of R1 RCM by 7.7% in the 2nd quarter. Victory Capital Management Inc. now owns 36,006 shares of the healthcare provider’s stock worth $452,000 after buying an additional 2,574 shares during the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in shares of R1 RCM in the 2nd quarter worth about $86,000. Finally, Privium Fund Management UK Ltd purchased a new position in shares of R1 RCM during the 2nd quarter worth about $502,000. 61.10% of the stock is currently owned by institutional investors.

R1 RCM Price Performance

Shares of RCM opened at $14.12 on Monday. The company has a 50 day moving average price of $13.65 and a 200-day moving average price of $12.99. R1 RCM Inc. has a fifty-two week low of $8.87 and a fifty-two week high of $16.65. The stock has a market capitalization of $5.95 billion, a PE ratio of -176.50 and a beta of 0.84. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.84 and a current ratio of 1.84.

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

Wall Street Analyst Weigh In

A number of research firms recently commented on RCM. Canaccord Genuity Group reaffirmed a “buy” rating and set a $15.00 price target on shares of R1 RCM in a research note on Monday, July 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $14.30 price target on shares of R1 RCM in a research note on Tuesday, August 20th. Jefferies Financial Group cut shares of R1 RCM from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of R1 RCM from $14.00 to $16.00 and gave the stock a “hold” rating in a research note on Tuesday, July 9th. Finally, Leerink Partners cut shares of R1 RCM from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $17.00 to $14.30 in a research note on Thursday, August 1st. Thirteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $15.41.

R1 RCM Company 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.