Allspring Global Investments Holdings LLC Increases Position in R1 RCM Inc. (NASDAQ:RCM)

Allspring Global Investments Holdings LLC raised its stake in R1 RCM Inc. (NASDAQ:RCM) by 589.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,122 shares of the healthcare provider’s stock after acquiring an additional 2,669 shares during the period. Allspring Global Investments Holdings LLC’s holdings in R1 RCM were worth $44,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of R1 RCM by 41.3% in the third quarter. GAMMA Investing LLC now owns 2,597 shares of the healthcare provider’s stock valued at $37,000 after buying an additional 759 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of R1 RCM by 2.1% in the second quarter. Arizona State Retirement System now owns 47,063 shares of the healthcare provider’s stock valued at $591,000 after buying an additional 969 shares in the last quarter. QRG Capital Management Inc. increased its holdings in shares of R1 RCM by 10.6% in the second quarter. QRG Capital Management Inc. now owns 11,307 shares of the healthcare provider’s stock valued at $142,000 after buying an additional 1,080 shares in the last quarter. State of Michigan Retirement System increased its holdings in shares of R1 RCM by 2.5% in the first quarter. State of Michigan Retirement System now owns 48,401 shares of the healthcare provider’s stock valued at $623,000 after buying an additional 1,200 shares in the last quarter. Finally, Advisors Asset Management Inc. bought a new position in shares of R1 RCM in the first quarter valued at $27,000. 61.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RCM has been the topic of several research analyst reports. Truist Financial lowered their price target on shares of R1 RCM from $16.00 to $14.30 and set a “hold” rating on the stock in a report on Thursday, August 8th. Leerink Partners cut shares of R1 RCM from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $17.00 to $14.30 in a report on Thursday, August 1st. Morgan Stanley cut shares of R1 RCM from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 8th. Stephens cut shares of R1 RCM from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 1st. Finally, Jefferies Financial Group cut shares of R1 RCM from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Thirteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, R1 RCM has a consensus rating of “Hold” and an average price target of $15.41.

R1 RCM Price Performance

RCM stock opened at $14.28 on Tuesday. The company has a 50 day simple moving average of $14.17 and a 200 day simple moving average of $13.25. The stock has a market cap of $6.03 billion, a price-to-earnings ratio of -142.80 and a beta of 0.84. R1 RCM Inc. has a 1 year low of $8.87 and a 1 year high of $15.12. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.84 and a quick ratio of 1.84.

R1 RCM (NASDAQ:RCM) last posted its quarterly earnings data on Wednesday, August 7th. The healthcare provider reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.03. The company had revenue of $627.90 million during the quarter, compared to analysts’ expectations of $633.10 million. R1 RCM had a negative net margin of 1.68% and a negative return on equity of 1.44%. R1 RCM’s revenue for the quarter was up 12.0% on a year-over-year basis. Research analysts anticipate that R1 RCM Inc. will post -0.37 EPS for the current fiscal year.

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.