Capital Impact Advisors LLC trimmed its holdings in shares of R1 RCM Inc. (NASDAQ:RCM – Get Rating) by 11.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,604 shares of the healthcare provider's stock after selling 3,804 shares during the quarter. Capital Impact Advisors LLC's holdings in R1 RCM were worth $216,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the business. Alliancebernstein L.P. increased its holdings in shares of R1 RCM by 158.2% during the third quarter. Alliancebernstein L.P. now owns 10,203,602 shares of the healthcare provider's stock worth $189,073,000 after purchasing an additional 6,251,991 shares during the period. Invesco Ltd. increased its stake in R1 RCM by 122.0% during the 1st quarter. Invesco Ltd. now owns 2,931,147 shares of the healthcare provider's stock worth $78,438,000 after acquiring an additional 1,610,594 shares during the period. Ophir Asset Management Pty Ltd lifted its position in shares of R1 RCM by 372.1% during the 3rd quarter. Ophir Asset Management Pty Ltd now owns 1,486,243 shares of the healthcare provider's stock valued at $27,540,000 after acquiring an additional 1,171,446 shares during the period. Wellington Management Group LLP grew its holdings in shares of R1 RCM by 21.1% during the 1st quarter. Wellington Management Group LLP now owns 6,223,742 shares of the healthcare provider's stock worth $166,548,000 after purchasing an additional 1,086,266 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of R1 RCM by 34.3% in the third quarter. Bank of New York Mellon Corp now owns 4,135,301 shares of the healthcare provider's stock worth $76,626,000 after purchasing an additional 1,057,169 shares during the period. Institutional investors and hedge funds own 97.09% of the company's stock.
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Insider Buying and Selling at R1 RCM
In related news, CEO Lee Rivas bought 71,767 shares of the business's stock in a transaction that occurred on Tuesday, February 21st. The shares were acquired at an average cost of $13.93 per share, with a total value of $999,714.31. Following the completion of the purchase, the chief executive officer now directly owns 71,767 shares in the company, valued at $999,714.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 63.50% of the company's stock.
R1 RCM Stock Down 0.4 %
RCM stock opened at $13.60 on Thursday. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of -96.79, a PEG ratio of 8.25 and a beta of 0.82. The company's fifty day simple moving average is $13.61 and its 200 day simple moving average is $14.31. R1 RCM Inc. has a 12-month low of $6.71 and a 12-month high of $27.86.
R1 RCM (NASDAQ:RCM – Get Rating) last announced its quarterly earnings data on Thursday, February 16th. The healthcare provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.06). R1 RCM had a negative net margin of 3.19% and a positive return on equity of 0.05%. The business had revenue of $532.80 million during the quarter, compared to analyst estimates of $519.28 million. During the same period in the prior year, the firm earned $0.11 earnings per share. The firm's revenue for the quarter was up 33.6% compared to the same quarter last year. Research analysts expect that R1 RCM Inc. will post 0.17 earnings per share for the current year.
Analyst Ratings Changes
Several equities research analysts recently weighed in on RCM shares. JPMorgan Chase & Co. cut their price objective on shares of R1 RCM from $33.00 to $11.00 and set an "overweight" rating for the company in a research report on Friday, November 18th. TheStreet cut R1 RCM from a "c-" rating to a "d+" rating in a research note on Monday, November 21st. Guggenheim upgraded R1 RCM from a "neutral" rating to a "buy" rating and set a $15.00 price target on the stock in a research note on Wednesday, December 7th. Deutsche Bank Aktiengesellschaft upped their price objective on R1 RCM from $14.00 to $16.00 in a research report on Friday, February 17th. Finally, KeyCorp lifted their target price on R1 RCM from $15.00 to $20.00 and gave the company an "overweight" rating in a research report on Thursday, February 2nd. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $16.85.
R1 RCM Company Profile
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R1 RCM, Inc engages in the provision of revenue cycle management to healthcare providers. It offers end-to-end, modular revenue cycle, and physician advisory services. The company was founded by Mary Ann Tolan and J. Michael Cline in July 2003 and is headquartered in Murray, UT.
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