R1 RCM Inc. (NASDAQ:RCM) Shares Sold by American Century Companies Inc.

American Century Companies Inc. decreased its position in R1 RCM Inc. (NASDAQ:RCM) by 8.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,731,337 shares of the healthcare provider’s stock after selling 324,459 shares during the quarter. American Century Companies Inc. owned about 0.89% of R1 RCM worth $46,866,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its stake in shares of R1 RCM by 23.5% during the 4th quarter. Victory Capital Management Inc. now owns 38,617 shares of the healthcare provider’s stock worth $408,000 after purchasing an additional 7,342 shares during the period. Charles Schwab Investment Management Inc. lifted its position in R1 RCM by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,192,722 shares of the healthcare provider’s stock worth $12,607,000 after buying an additional 21,447 shares during the period. Jump Financial LLC acquired a new stake in R1 RCM in the 4th quarter worth about $521,000. Dimensional Fund Advisors LP grew its holdings in R1 RCM by 81.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,826,545 shares of the healthcare provider’s stock valued at $29,879,000 after buying an additional 1,269,837 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of R1 RCM by 2.7% during the 4th quarter. Principal Financial Group Inc. now owns 810,025 shares of the healthcare provider’s stock valued at $8,562,000 after acquiring an additional 21,526 shares during the last quarter. 61.10% of the stock is currently owned by hedge funds and other institutional investors.

R1 RCM Price Performance

RCM stock opened at $14.18 on Tuesday. The company has a market capitalization of $5.97 billion, a PE ratio of -177.25 and a beta of 0.84. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.77. The stock’s 50 day moving average is $13.68 and its two-hundred day moving average is $12.99. R1 RCM Inc. has a 52-week low of $8.87 and a 52-week high of $16.20.

R1 RCM (NASDAQ:RCM) last posted its quarterly earnings results on Wednesday, August 7th. The healthcare provider reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. The firm had revenue of $627.90 million for the quarter, compared to analysts’ expectations of $633.10 million. R1 RCM had a negative net margin of 1.68% and a negative return on equity of 1.44%. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. 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 issued reports on RCM. Truist Financial dropped their price target on shares of R1 RCM from $16.00 to $14.30 and set a “hold” rating for the company in a research report on Thursday, August 8th. Leerink Partners downgraded R1 RCM from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $17.00 to $14.30 in a report on Thursday, August 1st. Stephens cut R1 RCM from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 1st. Morgan Stanley lowered R1 RCM from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 8th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $15.00 target price on shares of R1 RCM in a report on Monday, July 22nd. Thirteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price 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.