BlackRock Inc. lifted its position in R1 RCM Inc (NASDAQ:RCM) by 4.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,953,044 shares of the financial services provider’s stock after acquiring an additional 349,052 shares during the period. BlackRock Inc. owned 7.21% of R1 RCM worth $63,227,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its stake in shares of R1 RCM by 64.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,463 shares of the financial services provider’s stock worth $59,000 after buying an additional 2,926 shares during the last quarter. Marshall Wace North America L.P. boosted its stake in shares of R1 RCM by 13.9% in the 3rd quarter. Marshall Wace North America L.P. now owns 35,047 shares of the financial services provider’s stock worth $356,000 after buying an additional 4,290 shares during the last quarter. United Services Automobile Association boosted its stake in shares of R1 RCM by 45.9% in the 3rd quarter. United Services Automobile Association now owns 21,806 shares of the financial services provider’s stock worth $222,000 after buying an additional 6,858 shares during the last quarter. Swiss National Bank boosted its stake in shares of R1 RCM by 5.5% in the 3rd quarter. Swiss National Bank now owns 153,000 shares of the financial services provider’s stock worth $1,554,000 after buying an additional 8,000 shares during the last quarter. Finally, WINTON GROUP Ltd raised its holdings in R1 RCM by 72.1% in the 4th quarter. WINTON GROUP Ltd now owns 23,503 shares of the financial services provider’s stock worth $187,000 after purchasing an additional 9,848 shares during the period. 65.58% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on RCM shares. Zacks Investment Research raised R1 RCM from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Saturday, March 2nd. BidaskClub cut R1 RCM from a “hold” rating to a “sell” rating in a report on Saturday, January 19th. Finally, KeyCorp initiated coverage on R1 RCM in a report on Tuesday, January 22nd. They set an “overweight” rating and a $10.00 price target on the stock. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. R1 RCM has a consensus rating of “Buy” and an average target price of $13.80.
RCM opened at $10.47 on Wednesday. The stock has a market capitalization of $1.16 billion, a P/E ratio of -32.72 and a beta of 0.11. R1 RCM Inc has a 12 month low of $7.10 and a 12 month high of $11.00. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 56.51.
R1 RCM (NASDAQ:RCM) last released its quarterly earnings results on Friday, February 22nd. The financial services provider reported ($0.02) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.02). R1 RCM had a negative return on equity of 145.94% and a negative net margin of 5.22%. The company had revenue of $262.90 million during the quarter, compared to analyst estimates of $264.48 million. The company’s quarterly revenue was up 87.4% on a year-over-year basis. Analysts anticipate that R1 RCM Inc will post 0.25 earnings per share for the current year.
R1 RCM Profile
R1 RCM Inc provides revenue cycle management (RCM) for healthcare providers in the United States. It offers end-to-end RCM services to manage their revenue cycle operations, which encompass patient registration, insurance and benefit verification, medical treatment documentation and coding, and bill preparation and collection from patients and payers.
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