HGC Investment Management Inc. Makes New Investment in R1 RCM Inc. (NASDAQ:RCM)

HGC Investment Management Inc. acquired a new stake in R1 RCM Inc. (NASDAQ:RCM) in the third quarter, Holdings Channel.com reports. The fund acquired 30,494 shares of the healthcare provider’s stock, valued at approximately $432,000.

Other hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its stake in shares of R1 RCM by 5.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 89,342 shares of the healthcare provider’s stock valued at $1,151,000 after acquiring an additional 4,670 shares in the last quarter. QRG Capital Management Inc. grew its holdings in R1 RCM by 10.6% during the 2nd quarter. QRG Capital Management Inc. now owns 11,307 shares of the healthcare provider’s stock worth $142,000 after acquiring an additional 1,080 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of R1 RCM in the 2nd quarter valued at approximately $213,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of R1 RCM by 26.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,902 shares of the healthcare provider’s stock valued at $551,000 after purchasing an additional 9,149 shares in the last quarter. Finally, Intact Investment Management Inc. purchased a new stake in shares of R1 RCM during the 2nd quarter worth $621,000. Institutional investors and hedge funds own 61.10% of the company’s stock.

R1 RCM Price Performance

RCM stock opened at $14.31 on Tuesday. The company has a market cap of $6.04 billion, a price-to-earnings ratio of -95.39 and a beta of 0.84. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.76. The firm has a 50 day moving average of $14.25 and a 200-day moving average of $13.54. R1 RCM Inc. has a 12-month low of $8.87 and a 12-month high of $15.12.

R1 RCM (NASDAQ:RCM) last posted its 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 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 revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, equities analysts expect that R1 RCM Inc. will post -0.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on RCM shares. Cantor Fitzgerald reiterated a “neutral” rating and issued a $14.30 price objective on shares of R1 RCM in a report on Friday, October 4th. Morgan Stanley lowered shares of R1 RCM from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 8th. TD Cowen restated a “hold” rating and issued a $14.30 price objective (down previously from $20.00) on shares of R1 RCM in a research note on Monday, August 5th. Finally, Truist Financial cut their target price on R1 RCM from $16.00 to $14.30 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Thirteen research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $15.41.

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.