ClearAlpha Technologies LP Buys 30,937 Shares of R1 RCM Inc. (NASDAQ:RCM)

ClearAlpha Technologies LP raised its stake in shares of R1 RCM Inc. (NASDAQ:RCM) by 41.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 105,381 shares of the healthcare provider’s stock after buying an additional 30,937 shares during the period. ClearAlpha Technologies LP’s holdings in R1 RCM were worth $1,493,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Glazer Capital LLC purchased a new stake in R1 RCM during the third quarter valued at $135,678,000. Empyrean Capital Partners LP bought a new stake in shares of R1 RCM during the 2nd quarter valued at about $26,376,000. Alpine Associates Management Inc. purchased a new stake in shares of R1 RCM during the 3rd quarter valued at about $25,680,000. Tokio Marine Asset Management Co. Ltd. bought a new position in shares of R1 RCM in the 3rd quarter worth approximately $11,986,000. Finally, Engine Capital Management LP boosted its holdings in shares of R1 RCM by 96.0% in the second quarter. Engine Capital Management LP now owns 1,348,664 shares of the healthcare provider’s stock worth $16,939,000 after buying an additional 660,428 shares during the last quarter. 61.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on RCM. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $14.30 target price on shares of R1 RCM in a report on Friday, October 4th. TD Cowen reiterated a “hold” rating and set a $14.30 target price (down from $20.00) on shares of R1 RCM in a research report on Monday, August 5th. Truist Financial cut 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. Finally, Morgan Stanley cut R1 RCM from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 8th. Thirteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, R1 RCM has an average rating of “Hold” and a consensus target price of $15.41.

R1 RCM Trading Up 0.1 %

Shares of RCM stock opened at $14.31 on Monday. The company has a market cap of $6.04 billion, a PE ratio of -95.39 and a beta of 0.84. R1 RCM Inc. has a 1 year low of $8.87 and a 1 year high of $15.12. The stock’s 50 day simple moving average is $14.25 and its two-hundred day simple moving average is $13.54. 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 quarterly earnings results on Tuesday, November 5th. The healthcare provider reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The company had revenue of $656.80 million for the quarter, compared to analysts’ expectations of $640.93 million. R1 RCM had a negative net margin of 2.48% and a negative return on equity of 2.18%. The business’s revenue was up 14.7% on a year-over-year basis. Research analysts predict that R1 RCM Inc. will post -0.18 earnings per share for the current year.

R1 RCM 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.