Davidson Kempner Capital Management LP Purchases New Holdings in R1 RCM Inc. (NASDAQ:RCM)

Davidson Kempner Capital Management LP acquired a new position in R1 RCM Inc. (NASDAQ:RCM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 519,935 shares of the healthcare provider’s stock, valued at approximately $6,530,000. Davidson Kempner Capital Management LP owned about 0.12% of R1 RCM at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Capital International Investors raised its stake in shares of R1 RCM by 0.8% during the 4th quarter. Capital International Investors now owns 8,343,199 shares of the healthcare provider’s stock worth $88,188,000 after purchasing an additional 67,485 shares during the period. Norges Bank purchased a new stake in shares of R1 RCM during the 4th quarter worth approximately $42,539,000. P2 Capital Partners LLC raised its holdings in shares of R1 RCM by 70,366.3% in the 4th quarter. P2 Capital Partners LLC now owns 3,535,294 shares of the healthcare provider’s stock worth $37,368,000 after purchasing an additional 3,530,277 shares during the period. Dimensional Fund Advisors LP lifted its stake in R1 RCM by 4.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,154,888 shares of the healthcare provider’s stock valued at $39,624,000 after purchasing an additional 136,808 shares during the last quarter. Finally, Boston Partners lifted its stake in R1 RCM by 4,976.6% in the first quarter. Boston Partners now owns 2,570,371 shares of the healthcare provider’s stock valued at $32,784,000 after purchasing an additional 2,519,739 shares during the last quarter. Hedge funds and other institutional investors own 61.10% of the company’s stock.

R1 RCM Price Performance

Shares of R1 RCM stock opened at $14.16 on Monday. The business’s 50-day moving average price is $13.79 and its 200-day moving average price is $13.00. The firm has a market capitalization of $5.96 billion, a PE ratio of -177.00 and a beta of 0.84. R1 RCM Inc. has a 12 month low of $8.87 and a 12 month high of $15.82. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.77.

R1 RCM (NASDAQ:RCM) last issued its quarterly earnings results 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 business 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 revenue was up 12.0% compared to the same quarter last year. Sell-side analysts forecast that R1 RCM Inc. will post -0.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RCM has been the subject of several recent research reports. Cantor Fitzgerald reissued a “neutral” rating and issued a $14.30 price objective on shares of R1 RCM in a report on Tuesday, August 20th. Robert W. Baird restated an “outperform” rating and issued a $18.00 target price on shares of R1 RCM in a research note on Tuesday, July 2nd. Jefferies Financial Group cut R1 RCM from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of R1 RCM from $14.00 to $16.00 and gave the company a “hold” rating in a research note on Tuesday, July 9th. Finally, Leerink Partnrs downgraded shares of R1 RCM from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. Thirteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus 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.