Melqart Asset Management UK Ltd Has $68.04 Million Stock Position in R1 RCM Inc. (NASDAQ:RCM)

Melqart Asset Management UK Ltd lowered its stake in shares of R1 RCM Inc. (NASDAQ:RCM) by 0.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,801,908 shares of the healthcare provider’s stock after selling 23,597 shares during the period. R1 RCM accounts for 6.2% of Melqart Asset Management UK Ltd’s holdings, making the stock its 5th biggest position. Melqart Asset Management UK Ltd’s holdings in R1 RCM were worth $68,043,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in RCM. Price T Rowe Associates Inc. MD increased its position in R1 RCM by 5.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 89,342 shares of the healthcare provider’s stock worth $1,151,000 after buying an additional 4,670 shares during the last quarter. QRG Capital Management Inc. grew its stake in 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 buying an additional 1,080 shares during the last quarter. SG Americas Securities LLC acquired a new position in R1 RCM in the 2nd quarter valued at $213,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in R1 RCM by 26.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,902 shares of the healthcare provider’s stock worth $551,000 after buying an additional 9,149 shares during the period. Finally, Intact Investment Management Inc. acquired a new stake in shares of R1 RCM during the second quarter worth $621,000. 61.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RCM has been the topic of a number of recent research reports. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $14.30 price target on shares of R1 RCM in a research report on Friday, October 4th. Truist Financial dropped their price target on shares of R1 RCM from $16.00 to $14.30 and set a “hold” rating for the company in a research report on Thursday, August 8th. Finally, Morgan Stanley cut R1 RCM from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 8th. Thirteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, R1 RCM presently has an average rating of “Hold” and a consensus target price of $15.41.

R1 RCM Price Performance

R1 RCM stock opened at $14.31 on Wednesday. The stock 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 12 month low of $8.87 and a 12 month high of $15.12. The company has a market capitalization of $6.04 billion, a PE 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.

R1 RCM (NASDAQ:RCM) last issued its quarterly earnings data 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 net margin of 2.48% and a negative return on equity of 2.18%. The business had revenue of $656.80 million during the quarter, compared to the consensus estimate of $640.93 million. The company’s revenue was up 14.7% on a year-over-year basis. Analysts expect that R1 RCM Inc. will post -0.18 EPS for the current year.

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.