Thrivent Financial for Lutherans Sells 11,146 Shares of R1 RCM Inc. (NASDAQ:RCM)

Thrivent Financial for Lutherans cut its holdings in R1 RCM Inc. (NASDAQ:RCM) by 23.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,692 shares of the healthcare provider’s stock after selling 11,146 shares during the period. Thrivent Financial for Lutherans’ holdings in R1 RCM were worth $520,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its holdings in R1 RCM by 4.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,154,888 shares of the healthcare provider’s stock worth $39,624,000 after buying an additional 136,808 shares during the period. Sea Cliff Partners Management LP boosted its holdings in R1 RCM by 14.3% in the 2nd quarter. Sea Cliff Partners Management LP now owns 2,437,450 shares of the healthcare provider’s stock worth $30,614,000 after buying an additional 305,672 shares during the period. Empyrean Capital Partners LP purchased a new stake in R1 RCM in the 2nd quarter worth approximately $26,376,000. Engine Capital Management LP lifted its stake in R1 RCM by 96.0% in the 2nd quarter. Engine Capital Management LP now owns 1,348,664 shares of the healthcare provider’s stock worth $16,939,000 after purchasing an additional 660,428 shares in the last quarter. Finally, BW Gestao de Investimentos Ltda. lifted its stake in R1 RCM by 14.9% in the 2nd quarter. BW Gestao de Investimentos Ltda. now owns 1,027,220 shares of the healthcare provider’s stock worth $12,902,000 after purchasing an additional 133,324 shares in the last quarter. 61.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Truist Financial lowered their target price on shares of R1 RCM from $16.00 to $14.30 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Morgan Stanley cut shares of R1 RCM from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $14.30 target price on shares of R1 RCM in a research note on Friday, October 4th. Thirteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $15.41.

R1 RCM Price Performance

Shares of NASDAQ:RCM opened at $14.31 on Thursday. The stock has a market cap of $6.04 billion, a PE ratio of -95.39 and a beta of 0.84. The company’s fifty day moving average is $14.25 and its 200 day moving average is $13.57. R1 RCM Inc. has a 52 week low of $8.87 and a 52 week high of $15.12. 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 (NASDAQ:RCM) last issued its earnings results on Tuesday, November 5th. The healthcare provider reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). The business had revenue of $656.80 million during the quarter, compared to analysts’ expectations of $640.93 million. R1 RCM had a negative return on equity of 2.18% and a negative net margin of 2.48%. The company’s revenue was up 14.7% on a year-over-year basis. Research analysts anticipate that R1 RCM Inc. will post -0.18 earnings per share for the current year.

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.