Dimensional Fund Advisors LP Boosts Stake in R1 RCM Inc. (NASDAQ:RCM)

Dimensional Fund Advisors LP grew its holdings in shares of R1 RCM Inc. (NASDAQ:RCM) by 4.5% in the 2nd quarter, Holdings Channel reports. The fund owned 3,154,888 shares of the healthcare provider’s stock after acquiring an additional 136,808 shares during the period. Dimensional Fund Advisors LP’s holdings in R1 RCM were worth $39,624,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital International Investors increased its stake in shares of R1 RCM by 0.8% in the fourth quarter. Capital International Investors now owns 8,343,199 shares of the healthcare provider’s stock worth $88,188,000 after buying an additional 67,485 shares during the last quarter. P2 Capital Partners LLC increased its position in shares of R1 RCM by 70,366.3% in the 4th quarter. P2 Capital Partners LLC now owns 3,535,294 shares of the healthcare provider’s stock worth $37,368,000 after purchasing an additional 3,530,277 shares during the last quarter. Boston Partners raised its stake in shares of R1 RCM by 4,976.6% in the 1st quarter. Boston Partners now owns 2,570,371 shares of the healthcare provider’s stock valued at $32,784,000 after purchasing an additional 2,519,739 shares in the last quarter. First Light Asset Management LLC raised its stake in shares of R1 RCM by 212.8% in the 1st quarter. First Light Asset Management LLC now owns 2,552,325 shares of the healthcare provider’s stock valued at $32,874,000 after purchasing an additional 1,736,346 shares in the last quarter. Finally, Sea Cliff Partners Management LP bought a new position in shares of R1 RCM during the fourth quarter worth about $18,459,000. 61.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RCM has been the topic of several research reports. Royal Bank of Canada reissued an “outperform” rating and set a $19.00 price target on shares of R1 RCM in a research report on Friday, June 28th. Stephens cut shares of R1 RCM from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 1st. TD Cowen reaffirmed 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. Leerink Partnrs lowered shares of R1 RCM from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Truist Financial cut their target price on shares of R1 RCM from $16.00 to $14.30 and set a “hold” rating on the stock in a report on Thursday, August 8th. Thirteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $15.41.

R1 RCM Stock Performance

Shares of NASDAQ RCM opened at $14.17 on Tuesday. The business’s 50-day simple moving average is $13.92 and its 200-day simple moving average is $13.01. R1 RCM Inc. has a 52 week low of $8.87 and a 52 week high of $15.26. 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 firm has a market cap of $5.97 billion, a price-to-earnings ratio of -177.13 and a beta of 0.84.

R1 RCM (NASDAQ:RCM) last released its earnings results on Wednesday, August 7th. The healthcare provider reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $633.10 million. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, equities research analysts expect that R1 RCM Inc. will post -0.24 earnings per share for the current fiscal year.

About R1 RCM

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.