Xponance Inc. Cuts Stake in R1 RCM Inc. (NASDAQ:RCM)

Xponance Inc. lessened its stake in R1 RCM Inc. (NASDAQ:RCM) by 10.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,577 shares of the healthcare provider’s stock after selling 2,195 shares during the quarter. Xponance Inc.’s holdings in R1 RCM were worth $246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Retirement Systems of Alabama boosted its stake in R1 RCM by 0.3% during 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 last quarter. PNC Financial Services Group Inc. boosted its position in shares of R1 RCM by 4.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 19,601 shares of the healthcare provider’s stock valued at $207,000 after buying an additional 908 shares during the last quarter. Arizona State Retirement System increased its holdings in R1 RCM by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 47,063 shares of the healthcare provider’s stock worth $591,000 after buying an additional 969 shares in the last quarter. QRG Capital Management Inc. raised its position 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 worth $142,000 after buying an additional 1,080 shares during the last quarter. Finally, State of Michigan Retirement System boosted its holdings in shares of R1 RCM by 2.5% during the 1st quarter. State of Michigan Retirement System now owns 48,401 shares of the healthcare provider’s stock valued at $623,000 after acquiring an additional 1,200 shares during the last quarter. Institutional investors own 61.10% of the company’s stock.

Analyst Upgrades and Downgrades

RCM has been the subject of several research reports. Morgan Stanley cut shares of R1 RCM from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 8th. Leerink Partners downgraded R1 RCM from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $17.00 to $14.30 in a research note on Thursday, August 1st. Leerink Partnrs cut R1 RCM from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Canaccord Genuity Group reissued a “buy” rating and issued a $15.00 target price on shares of R1 RCM in a research report on Monday, July 22nd. Finally, Stephens lowered shares of R1 RCM from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 1st. Thirteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $15.41.

R1 RCM Stock Performance

NASDAQ:RCM opened at $14.19 on Thursday. The stock has a 50-day moving average price of $13.96 and a 200 day moving average price of $13.02. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.77. R1 RCM Inc. has a 12-month low of $8.87 and a 12-month high of $15.12. The stock has a market capitalization of $5.98 billion, a P/E ratio of -177.38 and a beta of 0.84.

R1 RCM (NASDAQ:RCM) last released its quarterly earnings data 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 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 was up 12.0% on a year-over-year basis. Equities research analysts forecast that R1 RCM Inc. will post -0.24 EPS for the current fiscal 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.