R1 RCM Inc. (NASDAQ:RCM) Shares Purchased by Engine Capital Management LP

Engine Capital Management LP grew its holdings in shares of R1 RCM Inc. (NASDAQ:RCM) by 96.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,348,664 shares of the healthcare provider’s stock after purchasing an additional 660,428 shares during the period. R1 RCM comprises about 3.2% of Engine Capital Management LP’s portfolio, making the stock its 11th biggest position. Engine Capital Management LP owned about 0.32% of R1 RCM worth $16,939,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in RCM. Norges Bank acquired a new stake in shares of R1 RCM during the fourth quarter worth $42,539,000. P2 Capital Partners LLC raised its stake in R1 RCM by 70,366.3% during the fourth 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. Boston Partners grew its position in R1 RCM by 4,976.6% during the first quarter. Boston Partners now owns 2,570,371 shares of the healthcare provider’s stock valued at $32,784,000 after acquiring an additional 2,519,739 shares during the period. Sea Cliff Partners Management LP acquired a new stake in R1 RCM during the 4th quarter worth approximately $18,459,000. Finally, First Light Asset Management LLC raised its stake in shares of R1 RCM by 212.8% in the 1st quarter. First Light Asset Management LLC now owns 2,552,325 shares of the healthcare provider’s stock valued at $32,874,000 after acquiring an additional 1,736,346 shares during the period. 61.10% of the stock is owned by hedge funds and other institutional investors.

R1 RCM Trading Down 0.2 %

Shares of RCM stock opened at $14.13 on Tuesday. 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 company has a market capitalization of $5.95 billion, a P/E ratio of -176.63 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 firm has a 50-day moving average price of $13.82 and a 200 day moving average price of $13.00.

R1 RCM (NASDAQ:RCM) last announced its earnings results on Wednesday, August 7th. The healthcare provider reported ($0.02) EPS for the quarter, topping the consensus estimate 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 business had revenue of $627.90 million for the quarter, compared to the consensus estimate of $633.10 million. R1 RCM’s revenue was up 12.0% compared to the same quarter last year. Research analysts forecast that R1 RCM Inc. will post -0.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RCM shares. Jefferies Financial Group cut shares of R1 RCM from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Cantor Fitzgerald reissued a “neutral” rating and set a $14.30 price target on shares of R1 RCM in a research report on Tuesday, August 20th. Stephens downgraded shares of R1 RCM from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 1st. Robert W. Baird reissued an “outperform” rating and set a $18.00 target price on shares of R1 RCM in a research report on Tuesday, July 2nd. Finally, TD Cowen reiterated a “hold” rating and issued a $14.30 price objective (down previously from $20.00) on shares of R1 RCM in a report on Monday, August 5th. Thirteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, R1 RCM 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.