Vanguard Group Inc. Sells 2,744,298 Shares of R1 RCM Inc. (NASDAQ:RCM)

Vanguard Group Inc. cut its stake in shares of R1 RCM Inc. (NASDAQ:RCM) by 15.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,196,494 shares of the healthcare provider’s stock after selling 2,744,298 shares during the quarter. Vanguard Group Inc.’s holdings in R1 RCM were worth $160,627,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of RCM. Mariner LLC raised its holdings in shares of R1 RCM by 10.6% during the third quarter. Mariner LLC now owns 29,508 shares of the healthcare provider’s stock valued at $445,000 after purchasing an additional 2,836 shares during the period. Northern Trust Corp raised its stake in R1 RCM by 17.8% during the 3rd quarter. Northern Trust Corp now owns 1,515,507 shares of the healthcare provider’s stock worth $22,839,000 after buying an additional 229,395 shares during the period. Tower Research Capital LLC TRC boosted its holdings in R1 RCM by 419.2% in the third quarter. Tower Research Capital LLC TRC now owns 39,309 shares of the healthcare provider’s stock worth $592,000 after acquiring an additional 31,738 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its stake in R1 RCM by 31.7% in the third quarter. Schonfeld Strategic Advisors LLC now owns 47,600 shares of the healthcare provider’s stock valued at $717,000 after acquiring an additional 11,465 shares during the period. Finally, Revisor Wealth Management LLC bought a new stake in shares of R1 RCM during the third quarter valued at approximately $247,000. 61.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RCM has been the topic of a number of recent research reports. Robert W. Baird reiterated an “outperform” rating and issued a $18.00 target price on shares of R1 RCM in a report on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $20.00 price objective on shares of R1 RCM in a research note on Tuesday. Citigroup raised shares of R1 RCM from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Wednesday, March 20th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $19.00 price target on shares of R1 RCM in a research report on Friday, June 28th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $17.00 price target on shares of R1 RCM in a research note on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.00.

R1 RCM Stock Performance

Shares of R1 RCM stock opened at $11.13 on Thursday. The business’s fifty day simple moving average is $12.41 and its 200 day simple moving average is $11.89. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.78. R1 RCM Inc. has a 12 month low of $8.87 and a 12 month high of $18.70. The firm has a market capitalization of $4.69 billion, a P/E ratio of -139.13 and a beta of 0.85.

R1 RCM (NASDAQ:RCM) last released its earnings results on Wednesday, May 8th. The healthcare provider reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). The business had revenue of $603.90 million for the quarter, compared to the consensus estimate of $612.88 million. R1 RCM had a negative return on equity of 1.16% and a negative net margin of 1.39%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, analysts anticipate that R1 RCM Inc. will post -0.17 EPS for the current year.

R1 RCM 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.