R1 RCM Inc. (NASDAQ:RCM) Shares Sold by First Light Asset Management LLC

First Light Asset Management LLC lowered its position in R1 RCM Inc. (NASDAQ:RCM) by 3.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,464,809 shares of the healthcare provider’s stock after selling 87,516 shares during the period. R1 RCM accounts for approximately 2.7% of First Light Asset Management LLC’s portfolio, making the stock its 17th biggest holding. First Light Asset Management LLC owned approximately 0.59% of R1 RCM worth $30,958,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Advisors Asset Management Inc. acquired a new stake in shares of R1 RCM in the first quarter valued at approximately $27,000. ANTIPODES PARTNERS Ltd purchased a new stake in R1 RCM in the 2nd quarter valued at $86,000. QRG Capital Management Inc. acquired a new stake in shares of R1 RCM in the 1st quarter worth $132,000. CIBC Asset Management Inc purchased a new position in shares of R1 RCM during the 2nd quarter worth $149,000. Finally, Covestor Ltd boosted its position in shares of R1 RCM by 340.9% during the 1st quarter. Covestor Ltd now owns 13,438 shares of the healthcare provider’s stock valued at $172,000 after acquiring an additional 10,390 shares during the last quarter. Institutional investors and hedge funds own 61.10% of the company’s stock.

R1 RCM Stock Down 0.2 %

Shares of NASDAQ:RCM opened at $14.13 on Tuesday. R1 RCM Inc. has a fifty-two week low of $8.87 and a fifty-two week high of $15.82. The firm’s 50 day moving average price is $13.82 and its 200 day moving average price is $13.00. 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 has a market cap of $5.95 billion, a price-to-earnings ratio of -176.63 and a beta of 0.84.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on RCM shares. Robert W. Baird restated an “outperform” rating and set a $18.00 price objective on shares of R1 RCM in a research report on Tuesday, July 2nd. Leerink Partnrs lowered shares of R1 RCM from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Jefferies Financial Group lowered R1 RCM from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. TD Cowen reissued a “hold” rating and set a $14.30 target price (down previously from $20.00) on shares of R1 RCM in a research note on Monday, August 5th. Finally, Stephens lowered R1 RCM from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 1st. Thirteen investment 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 has an average rating of “Hold” and an average 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.