HBK Investments L P Takes Position in R1 RCM Inc. (NASDAQ:RCM)

HBK Investments L P bought a new position in shares of R1 RCM Inc. (NASDAQ:RCM) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 370,300 shares of the healthcare provider’s stock, valued at approximately $5,247,000. HBK Investments L P owned 0.09% of R1 RCM at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Alpine Associates Management Inc. bought a new position in shares of R1 RCM during the 3rd quarter worth approximately $25,680,000. Tokio Marine Asset Management Co. Ltd. acquired a new position in R1 RCM during the third quarter worth $11,986,000. ING Groep NV bought a new position in shares of R1 RCM in the third quarter valued at $2,519,000. Wolverine Asset Management LLC acquired a new position in shares of R1 RCM during the third quarter valued at about $2,335,000. Finally, Boston Partners increased its position in shares of R1 RCM by 4,976.6% during the first quarter. Boston Partners now owns 2,570,371 shares of the healthcare provider’s stock worth $32,784,000 after acquiring an additional 2,519,739 shares in the last quarter. 61.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on RCM. Stephens lowered R1 RCM from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 1st. 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 research note on Thursday, August 8th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $14.30 target price on shares of R1 RCM in a report on Friday, October 4th. Leerink Partners cut shares of R1 RCM from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $17.00 to $14.30 in a report on Thursday, August 1st. Finally, Jefferies Financial Group lowered shares of R1 RCM from a “buy” rating to a “hold” rating in a research note 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 MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $15.41.

R1 RCM Stock Performance

Shares of RCM stock opened at $14.31 on Friday. The company has a 50 day moving average of $14.24 and a 200-day moving average of $13.51. 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 12-month low of $8.87 and a 12-month high of $15.12. The firm has a market cap of $6.04 billion, a P/E ratio of -95.39 and a beta of 0.84.

R1 RCM (NASDAQ:RCM) last released its quarterly earnings data on Tuesday, November 5th. The healthcare provider reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The business had revenue of $656.80 million during the quarter, compared to the consensus estimate of $640.93 million. R1 RCM had a negative return on equity of 2.18% and a negative net margin of 2.48%. The firm’s revenue was up 14.7% on a year-over-year basis. Sell-side analysts anticipate that R1 RCM Inc. will post -0.18 earnings per share for the current year.

About R1 RCM

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.