Quest Partners LLC Sells 21,020 Shares of R1 RCM Inc. (NASDAQ:RCM)

Quest Partners LLC cut its holdings in R1 RCM Inc. (NASDAQ:RCM) by 69.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,063 shares of the healthcare provider’s stock after selling 21,020 shares during the period. Quest Partners LLC’s holdings in R1 RCM were worth $128,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of R1 RCM by 41.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,597 shares of the healthcare provider’s stock valued at $37,000 after acquiring an additional 759 shares during the period. Arizona State Retirement System boosted its position in shares of R1 RCM by 2.1% in the second quarter. Arizona State Retirement System now owns 47,063 shares of the healthcare provider’s stock worth $591,000 after purchasing an additional 969 shares during the period. QRG Capital Management Inc. increased its stake in shares of R1 RCM by 10.6% in the second quarter. QRG Capital Management Inc. now owns 11,307 shares of the healthcare provider’s stock worth $142,000 after purchasing an additional 1,080 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in shares of R1 RCM during the 1st quarter valued at $27,000. Finally, Victory Capital Management Inc. lifted its stake in shares of R1 RCM by 7.7% during the 2nd quarter. Victory Capital Management Inc. now owns 36,006 shares of the healthcare provider’s stock valued at $452,000 after buying an additional 2,574 shares in the last quarter. Hedge funds and other institutional investors own 61.10% of the company’s stock.

R1 RCM Stock Performance

NASDAQ RCM opened at $14.31 on Friday. R1 RCM Inc. has a one year low of $8.87 and a one year high of $15.12. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.79 and a current ratio of 1.79. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of -95.39 and a beta of 0.84. The company’s 50-day simple moving average is $14.24 and its two-hundred day simple moving average is $13.51.

R1 RCM (NASDAQ:RCM) last released its quarterly earnings data on Tuesday, November 5th. The healthcare provider reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). The business had revenue of $656.80 million for the quarter, compared to the consensus estimate of $640.93 million. R1 RCM had a negative net margin of 2.48% and a negative return on equity of 2.18%. The company’s revenue was up 14.7% compared to the same quarter last year. Equities analysts forecast that R1 RCM Inc. will post -0.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RCM has been the subject of a number of analyst reports. Jefferies Financial Group lowered R1 RCM from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Cantor Fitzgerald reissued a “neutral” rating and set a $14.30 target price on shares of R1 RCM in a research note on Friday, October 4th. Stephens downgraded R1 RCM from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 1st. Truist Financial cut 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. Finally, Leerink Partnrs lowered shares of R1 RCM from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Thirteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, R1 RCM presently has an average rating of “Hold” and a consensus price target of $15.41.

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.