Principal Financial Group Inc. Decreases Position in R1 RCM Inc. (NASDAQ:RCM)

Principal Financial Group Inc. decreased its position in R1 RCM Inc. (NASDAQ:RCMFree Report) by 44.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 361,603 shares of the healthcare provider’s stock after selling 294,789 shares during the period. Principal Financial Group Inc. owned about 0.09% of R1 RCM worth $5,124,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of RCM. Clearbridge Investments LLC grew its position in shares of R1 RCM by 16.9% in the first quarter. Clearbridge Investments LLC now owns 1,162,703 shares of the healthcare provider’s stock valued at $14,976,000 after purchasing an additional 168,197 shares in the last quarter. Natixis bought a new stake in shares of R1 RCM in the 1st quarter worth approximately $2,883,000. Advisors Asset Management Inc. bought a new position in R1 RCM during the 1st quarter worth approximately $27,000. Gabelli Funds LLC purchased a new position in shares of R1 RCM in the first quarter valued at about $2,114,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in R1 RCM during the 1st quarter valued at about $1,604,000. 61.10% of the stock is owned by institutional investors.

R1 RCM Price Performance

NASDAQ RCM opened at $14.31 on Thursday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.76. R1 RCM Inc. has a 52 week low of $8.87 and a 52 week high of $15.12. The business’s fifty day simple moving average is $14.22 and its 200-day simple moving average is $13.44. The firm has a market cap of $6.04 billion, a PE ratio of -95.40 and a beta of 0.84.

R1 RCM (NASDAQ:RCMGet Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The healthcare provider reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). The business had revenue of $656.80 million for the quarter, compared to analyst estimates of $640.93 million. R1 RCM had a negative return on equity of 2.18% and a negative net margin of 2.48%. R1 RCM’s revenue for the quarter was up 14.7% on a year-over-year basis. As a group, equities analysts anticipate that R1 RCM Inc. will post -0.38 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RCM shares. Jefferies Financial Group lowered R1 RCM from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Stephens cut R1 RCM from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 1st. Leerink Partners downgraded R1 RCM from an “outperform” rating to a “market perform” rating and cut their price target for the company from $17.00 to $14.30 in a research note on Thursday, August 1st. TD Cowen reiterated a “hold” rating and set a $14.30 price target (down previously from $20.00) on shares of R1 RCM in a research note on Monday, August 5th. Finally, Truist Financial reduced their target price on shares of R1 RCM from $16.00 to $14.30 and set a “hold” rating for the company in a 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’s stock. According to MarketBeat, R1 RCM presently has a consensus rating of “Hold” and an average price target of $15.41.

Get Our Latest Stock Report on RCM

R1 RCM Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for R1 RCM (NASDAQ:RCM)

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