Clearbridge Investments LLC Has $14.32 Million Stake in R1 RCM Inc. (NASDAQ:RCM)

Clearbridge Investments LLC reduced its position in shares of R1 RCM Inc. (NASDAQ:RCM) by 1.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,140,404 shares of the healthcare provider’s stock after selling 22,299 shares during the quarter. Clearbridge Investments LLC’s holdings in R1 RCM were worth $14,323,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in RCM. Advisors Asset Management Inc. acquired a new position in shares of R1 RCM during the 1st quarter worth approximately $27,000. ANTIPODES PARTNERS Ltd acquired a new stake in R1 RCM during the second quarter worth approximately $86,000. QRG Capital Management Inc. bought a new position in R1 RCM during the 1st quarter worth $132,000. Caas Capital Management LP bought a new position in R1 RCM during the 4th quarter worth $148,000. Finally, CIBC Asset Management Inc acquired a new position in R1 RCM in the 2nd quarter valued at $149,000. 61.10% of the stock is currently owned by institutional investors.

R1 RCM Stock Up 0.1 %

Shares of RCM opened at $14.19 on Friday. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of -177.38 and a beta of 0.85. R1 RCM Inc. has a 52 week low of $8.87 and a 52 week high of $15.12. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a fifty day moving average of $13.98 and a 200-day moving average of $13.03.

R1 RCM (NASDAQ:RCM) last posted its earnings results on Wednesday, August 7th. The healthcare provider reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.03. R1 RCM had a negative return on equity of 1.44% and a negative net margin of 1.68%. The firm had revenue of $627.90 million during the quarter, compared to the consensus estimate of $633.10 million. R1 RCM’s quarterly revenue was up 12.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that R1 RCM Inc. will post -0.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RCM has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on R1 RCM from $14.00 to $16.00 and gave the stock a “hold” rating in a report on Tuesday, July 9th. Jefferies Financial Group lowered shares of R1 RCM from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Morgan Stanley downgraded shares of R1 RCM from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 8th. Truist Financial reduced their price target on shares of R1 RCM from $16.00 to $14.30 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $19.00 price objective on shares of R1 RCM in a research report on Friday, June 28th. Thirteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $15.41.

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.