R1 RCM Inc. (NASDAQ:RCM) Position Boosted by Millennium Management LLC

Millennium Management LLC grew its holdings in shares of R1 RCM Inc. (NASDAQ:RCM) by 8.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 457,907 shares of the healthcare provider’s stock after purchasing an additional 34,475 shares during the period. Millennium Management LLC owned approximately 0.11% of R1 RCM worth $5,751,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Dark Forest Capital Management LP boosted its holdings in shares of R1 RCM by 67.5% in the second quarter. Dark Forest Capital Management LP now owns 57,749 shares of the healthcare provider’s stock worth $725,000 after buying an additional 23,270 shares during the period. Empyrean Capital Partners LP acquired a new position in shares of R1 RCM in the second quarter worth about $26,376,000. Troluce Capital Advisors LLC boosted its holdings in shares of R1 RCM by 373.7% in the second quarter. Troluce Capital Advisors LLC now owns 790,555 shares of the healthcare provider’s stock worth $9,929,000 after buying an additional 623,655 shares during the period. Engine Capital Management LP boosted its holdings in shares of R1 RCM by 96.0% in the second quarter. Engine Capital Management LP now owns 1,348,664 shares of the healthcare provider’s stock worth $16,939,000 after buying an additional 660,428 shares during the period. Finally, Marshall Wace LLP boosted its holdings in shares of R1 RCM by 762.8% during the second quarter. Marshall Wace LLP now owns 627,387 shares of the healthcare provider’s stock worth $7,880,000 after purchasing an additional 554,671 shares during the period. Institutional investors own 61.10% of the company’s stock.

R1 RCM Trading Down 0.1 %

NASDAQ:RCM opened at $14.21 on Friday. R1 RCM Inc. has a 12 month low of $8.87 and a 12 month high of $15.12. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of -142.10 and a beta of 0.85. 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’s 50 day moving average is $14.10 and its 200-day moving average is $13.08.

R1 RCM (NASDAQ:RCM) last announced its quarterly earnings data on Wednesday, August 7th. The healthcare provider reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.03. The business had revenue of $627.90 million for the quarter, compared to the consensus estimate of $633.10 million. R1 RCM had a negative net margin of 1.68% and a negative return on equity of 1.44%. The company’s revenue was up 12.0% on a year-over-year basis. Equities analysts anticipate that R1 RCM Inc. will post -0.24 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Leerink Partners cut shares of R1 RCM from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $17.00 to $14.30 in a report on Thursday, August 1st. Canaccord Genuity Group restated a “buy” rating and set a $15.00 price target on shares of R1 RCM in a report on Monday, July 22nd. Cantor Fitzgerald restated a “neutral” rating and set a $14.30 price target on shares of R1 RCM in a report on Friday, October 4th. Royal Bank of Canada restated an “outperform” rating and set a $19.00 price target on shares of R1 RCM in a report on Friday, June 28th. Finally, TD Cowen restated a “hold” rating and set a $14.30 price target (down from $20.00) on shares of R1 RCM in a report on Monday, August 5th. Thirteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.