King Luther Capital Management Corp Has $10.30 Million Stock Position in R1 RCM Inc. (NASDAQ:RCM)

King Luther Capital Management Corp grew its stake in R1 RCM Inc. (NASDAQ:RCM) by 0.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 819,858 shares of the healthcare provider’s stock after buying an additional 7,413 shares during the quarter. King Luther Capital Management Corp owned 0.19% of R1 RCM worth $10,297,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in RCM. Victory Capital Management Inc. boosted its holdings in R1 RCM by 23.5% during the fourth 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 last quarter. Charles Schwab Investment Management Inc. lifted its holdings in R1 RCM by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,192,722 shares of the healthcare provider’s stock valued at $12,607,000 after purchasing an additional 21,447 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in R1 RCM by 81.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,826,545 shares of the healthcare provider’s stock worth $29,879,000 after purchasing an additional 1,269,837 shares during the period. Principal Financial Group Inc. increased its holdings in shares of R1 RCM by 2.7% in the fourth quarter. Principal Financial Group Inc. now owns 810,025 shares of the healthcare provider’s stock valued at $8,562,000 after purchasing an additional 21,526 shares during the last quarter. Finally, Norges Bank bought a new position in shares of R1 RCM in the fourth quarter valued at about $42,539,000. Institutional investors and hedge funds own 61.10% of the company’s stock.

R1 RCM Stock Up 0.1 %

Shares of NASDAQ RCM opened at $14.16 on Friday. The company has a 50 day simple moving average of $13.76 and a 200 day simple moving average of $13.01. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.84 and a quick ratio of 1.84. R1 RCM Inc. has a 1 year low of $8.87 and a 1 year high of $15.82. The firm has a market cap of $5.96 billion, a PE ratio of -177.00 and a beta of 0.84.

R1 RCM (NASDAQ:RCM) last issued its quarterly earnings results on Wednesday, August 7th. The healthcare provider reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. The company had revenue of $627.90 million for the quarter, compared to analyst estimates of $633.10 million. R1 RCM had a negative net margin of 1.68% and a negative return on equity of 1.44%. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. On average, research analysts forecast that R1 RCM Inc. will post -0.24 EPS for the current year.

Analysts Set New Price Targets

RCM has been the topic of a number of research reports. Leerink Partners lowered shares of R1 RCM from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $17.00 to $14.30 in a research note on Thursday, August 1st. Canaccord Genuity Group reiterated a “buy” rating and issued a $15.00 price target on shares of R1 RCM in a research note on Monday, July 22nd. Stephens downgraded R1 RCM from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 1st. Jefferies Financial Group cut R1 RCM from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Truist Financial decreased their price target on R1 RCM from $16.00 to $14.30 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Thirteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, R1 RCM currently has an average rating of “Hold” and a consensus target price of $15.41.

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.