Murchinson Ltd. Takes $184,000 Position in R1 RCM Inc. (NASDAQ:RCM)

Murchinson Ltd. purchased a new stake in shares of R1 RCM Inc. (NASDAQ:RCM) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 13,000 shares of the healthcare provider’s stock, valued at approximately $184,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in 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 purchasing an additional 759 shares in the last quarter. Arizona State Retirement System raised its stake in 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 buying an additional 969 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in 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 buying an additional 1,080 shares during the period. Victory Capital Management Inc. boosted its position in 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 acquiring an additional 2,574 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of R1 RCM by 589.2% in the 3rd 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. 61.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on RCM shares. Morgan Stanley lowered R1 RCM from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 8th. Truist Financial lowered 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, Cantor Fitzgerald reiterated a “neutral” rating and issued a $14.30 target price on shares of R1 RCM in a research note on Friday, October 4th. Thirteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, R1 RCM currently has a consensus rating of “Hold” and an average target price of $15.41.

R1 RCM Stock Up 0.1 %

Shares of RCM stock opened at $14.31 on Wednesday. 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 has a debt-to-equity ratio of 0.76, a current ratio of 1.79 and a quick ratio of 1.79. The company’s fifty day moving average price is $14.25 and its 200-day moving average price is $13.56. R1 RCM Inc. has a one year low of $8.87 and a one year high of $15.12.

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 the consensus estimate 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 company’s quarterly revenue was up 14.7% compared to the same quarter last year. Sell-side analysts expect that R1 RCM Inc. will post -0.18 EPS 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.