R1 RCM Inc. (NASDAQ:RCM) Shares Purchased by Harvest Management LLC

Harvest Management LLC grew its stake in R1 RCM Inc. (NASDAQ:RCM) by 407.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 119,700 shares of the healthcare provider’s stock after purchasing an additional 96,100 shares during the period. R1 RCM comprises 0.9% of Harvest Management LLC’s investment portfolio, making the stock its 19th biggest position. Harvest Management LLC’s holdings in R1 RCM were worth $1,696,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. GAMMA Investing LLC increased its stake in shares of R1 RCM by 41.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,597 shares of the healthcare provider’s stock worth $37,000 after acquiring an additional 759 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in R1 RCM by 589.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,122 shares of the healthcare provider’s stock worth $44,000 after acquiring an additional 2,669 shares during the last quarter. Values First Advisors Inc. purchased a new position in shares of R1 RCM in the 3rd quarter valued at about $88,000. ANTIPODES PARTNERS Ltd acquired a new stake in R1 RCM during the 2nd quarter worth $86,000. Finally, Creative Planning acquired a new stake in R1 RCM during the 3rd quarter worth $142,000. Hedge funds and other institutional investors own 61.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on RCM shares. Cantor Fitzgerald restated a “neutral” rating and issued a $14.30 price objective on shares of R1 RCM in a research report on Friday, October 4th. Morgan Stanley downgraded shares of R1 RCM from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 8th. TD Cowen reissued a “hold” rating and issued a $14.30 target price (down previously from $20.00) on shares of R1 RCM in a research note on Monday, August 5th. Finally, Truist Financial dropped their target price on R1 RCM from $16.00 to $14.30 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Thirteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $15.41.

R1 RCM Stock Performance

Shares of RCM opened at $14.31 on Tuesday. The company has a market cap of $6.04 billion, a PE ratio of -95.39 and a beta of 0.84. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.79 and a quick ratio of 1.79. R1 RCM Inc. has a one year low of $8.87 and a one year high of $15.12. The stock has a 50-day moving average of $14.25 and a 200-day moving average of $13.54.

R1 RCM (NASDAQ:RCM) last announced its quarterly earnings results on Tuesday, November 5th. The healthcare provider reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The company had revenue of $656.80 million during the quarter, compared to analysts’ expectations 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. On average, equities research analysts predict that R1 RCM Inc. will post -0.18 EPS for the current fiscal year.

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.