Deerfield Management Company L.P. Series C Has $193,000 Stock Position in R1 RCM Inc. (NASDAQ:RCM)

Deerfield Management Company L.P. Series C lessened its stake in R1 RCM Inc. (NASDAQ:RCM) by 67.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 15,338 shares of the healthcare provider’s stock after selling 31,348 shares during the quarter. Deerfield Management Company L.P. Series C’s holdings in R1 RCM were worth $193,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. P2 Capital Partners LLC grew its stake in shares of R1 RCM by 70,366.3% during the fourth quarter. P2 Capital Partners LLC now owns 3,535,294 shares of the healthcare provider’s stock valued at $37,368,000 after purchasing an additional 3,530,277 shares during the last quarter. Boston Partners raised 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 during the last quarter. Empyrean Capital Partners LP acquired a new position in shares of R1 RCM during the second quarter valued at $26,376,000. Sea Cliff Partners Management LP bought a new position in R1 RCM in the fourth quarter valued at about $18,459,000. Finally, First Light Asset Management LLC increased its position in R1 RCM by 212.8% in the first quarter. First Light Asset Management LLC now owns 2,552,325 shares of the healthcare provider’s stock worth $32,874,000 after purchasing an additional 1,736,346 shares during the period. Institutional investors and hedge funds own 61.10% of the company’s stock.

R1 RCM Price Performance

Shares of RCM stock opened at $14.17 on Friday. R1 RCM Inc. has a 12-month low of $8.87 and a 12-month high of $15.43. 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 firm has a fifty day moving average of $13.91 and a 200-day moving average of $13.01. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of -177.13 and a beta of 0.84.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on RCM shares. Canaccord Genuity Group restated a “buy” rating and set a $15.00 target price on shares of R1 RCM in a research report on Monday, July 22nd. TD Cowen reaffirmed a “hold” rating and issued a $14.30 price objective (down from $20.00) on shares of R1 RCM in a research note on Monday, August 5th. Truist Financial lowered their target price on shares of R1 RCM from $16.00 to $14.30 and set a “hold” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $19.00 target price on shares of R1 RCM in a research note on Friday, June 28th. Finally, Robert W. Baird restated an “outperform” rating and set a $18.00 target price on shares of R1 RCM in a report on Tuesday, July 2nd. Thirteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $15.41.

R1 RCM Company 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.