Van ECK Associates Corp Has $51,000 Stake in R1 RCM Inc. (NASDAQ:RCM)

Van ECK Associates Corp decreased its stake in shares of R1 RCM Inc. (NASDAQ:RCM) by 30.0% during the third quarter, HoldingsChannel.com reports. The fund owned 3,596 shares of the healthcare provider’s stock after selling 1,544 shares during the period. Van ECK Associates Corp’s holdings in R1 RCM were worth $51,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in RCM. Advisors Asset Management Inc. bought a new stake in R1 RCM during the 1st quarter valued at approximately $27,000. GAMMA Investing LLC boosted its stake 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 purchasing an additional 759 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in R1 RCM by 589.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,122 shares of the healthcare provider’s stock valued at $44,000 after purchasing an additional 2,669 shares during the period. ANTIPODES PARTNERS Ltd bought a new stake in R1 RCM during the 2nd quarter valued at approximately $86,000. Finally, Values First Advisors Inc. bought a new stake in R1 RCM during the 3rd quarter valued at approximately $88,000. Institutional investors and hedge funds own 61.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on RCM shares. TD Cowen restated a “hold” rating and set a $14.30 target price (down previously from $20.00) on shares of R1 RCM in a research note on Monday, August 5th. Canaccord Genuity Group restated a “buy” rating and set a $15.00 target price on shares of R1 RCM in a research note on Monday, July 22nd. Morgan Stanley downgraded R1 RCM from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 8th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $14.30 price objective on shares of R1 RCM in a research report on Friday, October 4th. Finally, Stephens downgraded R1 RCM from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 1st. Thirteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, R1 RCM has a consensus rating of “Hold” and an average target price of $15.41.

R1 RCM Trading Up 0.1 %

RCM stock opened at $14.30 on Thursday. The business has a fifty day moving average price of $14.20 and a 200 day moving average price of $13.37. R1 RCM Inc. has a fifty-two week low of $8.87 and a fifty-two week high of $15.12. The stock has a market capitalization of $6.04 billion, a price-to-earnings ratio of -95.33 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 (NASDAQ:RCM) last released its earnings results on Tuesday, November 5th. The healthcare provider reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The firm had revenue of $656.80 million during the quarter, compared to analyst estimates of $640.93 million. R1 RCM had a negative net margin of 2.48% and a negative return on equity of 2.18%. R1 RCM’s quarterly revenue was up 14.7% on a year-over-year basis. Analysts expect that R1 RCM Inc. will post -0.38 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.