2,100,000 Shares in R1 RCM Inc. (NASDAQ:RCM) Bought by Empyrean Capital Partners LP

Empyrean Capital Partners LP bought a new stake in R1 RCM Inc. (NASDAQ:RCM) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 2,100,000 shares of the healthcare provider’s stock, valued at approximately $26,376,000. R1 RCM comprises about 1.5% of Empyrean Capital Partners LP’s investment portfolio, making the stock its 18th largest holding. Empyrean Capital Partners LP owned 0.50% of R1 RCM as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in RCM. Norges Bank acquired a new position in shares of R1 RCM during the fourth quarter valued at about $42,539,000. P2 Capital Partners LLC raised its stake in R1 RCM by 70,366.3% in the 4th quarter. P2 Capital Partners LLC now owns 3,535,294 shares of the healthcare provider’s stock worth $37,368,000 after acquiring an additional 3,530,277 shares during the last quarter. Boston Partners grew its stake in R1 RCM by 4,976.6% during the 1st quarter. Boston Partners now owns 2,570,371 shares of the healthcare provider’s stock valued at $32,784,000 after purchasing an additional 2,519,739 shares during the last quarter. Sea Cliff Partners Management LP purchased a new position in shares of R1 RCM in the fourth quarter worth about $18,459,000. Finally, First Light Asset Management LLC boosted its position in R1 RCM by 212.8% in the first quarter. First Light Asset Management LLC now owns 2,552,325 shares of the healthcare provider’s stock valued at $32,874,000 after buying an additional 1,736,346 shares during the last quarter. 61.10% of the stock is currently owned by institutional investors.

R1 RCM Price Performance

Shares of NASDAQ RCM opened at $14.15 on Thursday. The firm has a market cap of $5.97 billion, a price-to-earnings ratio of -176.88 and a beta of 0.84. The company’s 50-day simple moving average is $13.86 and its 200-day simple moving average is $13.01. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.77. R1 RCM Inc. has a 52-week low of $8.87 and a 52-week high of $15.77.

R1 RCM (NASDAQ:RCM) last posted its quarterly earnings data on Wednesday, August 7th. The healthcare provider reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.03. R1 RCM had a negative return on equity of 1.44% and a negative net margin of 1.68%. The company had revenue of $627.90 million for the quarter, compared to analysts’ expectations of $633.10 million. R1 RCM’s revenue was up 12.0% on a year-over-year basis. Equities analysts predict that R1 RCM Inc. will post -0.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RCM. Stephens downgraded shares of R1 RCM from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $19.00 price target on shares of R1 RCM in a research report on Friday, June 28th. Leerink Partners cut R1 RCM from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $17.00 to $14.30 in a report on Thursday, August 1st. Leerink Partnrs lowered R1 RCM from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Truist Financial decreased their price target on R1 RCM from $16.00 to $14.30 and set a “hold” rating for the company in a report on Thursday, August 8th. Thirteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, R1 RCM has a consensus rating of “Hold” and a consensus price target of $15.41.

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.