Wolverine Asset Management LLC Makes New $2.34 Million Investment in R1 RCM Inc. (NASDAQ:RCM)

Wolverine Asset Management LLC bought a new stake in R1 RCM Inc. (NASDAQ:RCM) in the third quarter, HoldingsChannel reports. The fund bought 164,800 shares of the healthcare provider’s stock, valued at approximately $2,335,000.

Several other hedge funds have also modified their holdings of the stock. Gabelli Funds LLC acquired a new stake in R1 RCM in the first quarter valued at approximately $2,114,000. BOKF NA purchased a new stake in R1 RCM during the 1st quarter worth $1,189,000. Natixis acquired a new position in R1 RCM in the 1st quarter worth $2,883,000. Boston Partners boosted its position in R1 RCM by 4,976.6% in the 1st quarter. Boston Partners now owns 2,570,371 shares of the healthcare provider’s stock valued at $32,784,000 after buying an additional 2,519,739 shares during the last quarter. Finally, Clearbridge Investments LLC grew its stake in shares of R1 RCM by 16.9% during the first quarter. Clearbridge Investments LLC now owns 1,162,703 shares of the healthcare provider’s stock valued at $14,976,000 after acquiring an additional 168,197 shares in the last quarter. 61.10% of the stock is currently owned by hedge funds and other institutional investors.

R1 RCM Stock Performance

Shares of RCM stock opened at $14.29 on Tuesday. The company has a market cap of $6.04 billion, a P/E ratio of -95.26 and a beta of 0.84. The business has a 50 day moving average of $14.19 and a two-hundred day moving average of $13.35. R1 RCM Inc. has a 52 week low of $8.87 and a 52 week high of $15.12. The company has a quick ratio of 1.84, a current ratio of 1.79 and a debt-to-equity ratio of 0.76.

R1 RCM (NASDAQ:RCM) last issued its quarterly earnings data on Tuesday, November 5th. The healthcare provider reported ($0.05) 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 for the quarter, compared to the consensus estimate of $640.93 million. The business’s quarterly revenue was up 14.7% on a year-over-year basis. As a group, analysts anticipate that R1 RCM Inc. will post -0.37 EPS for the current year.

Analysts Set New Price Targets

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