Westchester Capital Management LLC Purchases New Position in R1 RCM Inc. (NASDAQ:RCM)

Westchester Capital Management LLC purchased a new position in R1 RCM Inc. (NASDAQ:RCM) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 191,500 shares of the healthcare provider’s stock, valued at approximately $2,714,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Advisors Asset Management Inc. bought a new stake in shares of R1 RCM during the 1st quarter valued at $27,000. GAMMA Investing LLC lifted its position in 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. Allspring Global Investments Holdings LLC boosted its stake in R1 RCM by 589.2% during 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 in the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in R1 RCM during the second quarter worth about $86,000. Finally, Values First Advisors Inc. purchased a new stake in R1 RCM in the third quarter worth about $88,000. 61.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

R1 RCM Price Performance

RCM opened at $14.31 on Friday. The company’s 50-day simple moving average is $14.24 and its two-hundred day simple moving average is $13.51. 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 stock has a market capitalization of $6.04 billion, a P/E ratio of -95.39 and a beta of 0.84. R1 RCM Inc. has a 52-week low of $8.87 and a 52-week high of $15.12.

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