Bridgewater Associates LP Trims Position in R1 RCM Inc. (NASDAQ:RCM)

Bridgewater Associates LP reduced its position in R1 RCM Inc. (NASDAQ:RCM) by 73.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 20,425 shares of the healthcare provider’s stock after selling 57,773 shares during the period. Bridgewater Associates LP’s holdings in R1 RCM were worth $289,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of 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 last quarter. Arizona State Retirement System raised its stake in R1 RCM by 2.1% during the second quarter. Arizona State Retirement System now owns 47,063 shares of the healthcare provider’s stock worth $591,000 after purchasing an additional 969 shares during the period. QRG Capital Management Inc. boosted its holdings in shares of R1 RCM by 10.6% in the 2nd quarter. QRG Capital Management Inc. now owns 11,307 shares of the healthcare provider’s stock valued at $142,000 after purchasing an additional 1,080 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of R1 RCM by 7.7% in the 2nd quarter. Victory Capital Management Inc. now owns 36,006 shares of the healthcare provider’s stock valued at $452,000 after purchasing an additional 2,574 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of 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 buying an additional 2,669 shares during the period. 61.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RCM. Morgan Stanley cut R1 RCM from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 8th. Truist Financial decreased their target price on 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 restated a “neutral” rating and issued a $14.30 price target on shares of R1 RCM in a report on Friday, October 4th. Thirteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $15.41.

R1 RCM Price Performance

Shares of NASDAQ RCM opened at $14.31 on Wednesday. The business has a 50 day moving average price of $14.25 and a two-hundred day moving average price of $13.56. R1 RCM Inc. has a fifty-two week low of $8.87 and a fifty-two week high of $15.12. The firm has a market cap of $6.04 billion, a PE ratio of -95.39 and a beta of 0.84. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.76.

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