Victory Capital Management Inc. Purchases 2,574 Shares of R1 RCM Inc. (NASDAQ:RCM)

Victory Capital Management Inc. increased its position in shares of R1 RCM Inc. (NASDAQ:RCM) by 7.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 36,006 shares of the healthcare provider’s stock after buying an additional 2,574 shares during the quarter. Victory Capital Management Inc.’s holdings in R1 RCM were worth $452,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of RCM. Retirement Systems of Alabama boosted its holdings in R1 RCM by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 247,476 shares of the healthcare provider’s stock valued at $3,187,000 after purchasing an additional 856 shares during the period. PNC Financial Services Group Inc. boosted its holdings in R1 RCM by 4.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 19,601 shares of the healthcare provider’s stock valued at $207,000 after purchasing an additional 908 shares during the period. QRG Capital Management Inc. boosted its holdings in R1 RCM by 10.6% in the 2nd quarter. QRG Capital Management Inc. now owns 11,307 shares of the healthcare provider’s stock valued at $142,000 after purchasing an additional 1,080 shares during the period. State of Michigan Retirement System boosted its holdings in R1 RCM by 2.5% in the 1st quarter. State of Michigan Retirement System now owns 48,401 shares of the healthcare provider’s stock valued at $623,000 after purchasing an additional 1,200 shares during the period. Finally, New York State Teachers Retirement System boosted its holdings in R1 RCM by 1.4% in the 1st quarter. New York State Teachers Retirement System now owns 141,821 shares of the healthcare provider’s stock valued at $1,827,000 after purchasing an additional 1,900 shares during the period. 61.10% of the stock is owned by institutional investors.

R1 RCM Trading Up 0.1 %

Shares of R1 RCM stock opened at $14.16 on Monday. The stock has a market capitalization of $5.96 billion, a P/E ratio of -177.00 and a beta of 0.84. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.77. The company has a 50-day simple moving average of $13.79 and a 200 day simple moving average of $13.00. R1 RCM Inc. has a 12-month low of $8.87 and a 12-month high of $15.82.

R1 RCM (NASDAQ:RCM) last announced its earnings results on Wednesday, August 7th. The healthcare provider reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. The business 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%. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. Research analysts expect that R1 RCM Inc. will post -0.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on RCM shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of R1 RCM from $14.00 to $16.00 and gave the company a “hold” rating in a report on Tuesday, July 9th. TD Cowen reissued a “hold” rating and issued a $14.30 price target (down from $20.00) on shares of R1 RCM in a report on Monday, August 5th. Morgan Stanley cut shares of R1 RCM from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 8th. Jefferies Financial Group cut shares of R1 RCM from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Truist Financial dropped their price objective 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. Thirteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus 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.