ING Groep NV Acquires New Holdings in R1 RCM Inc. (NASDAQ:RCM)

ING Groep NV purchased a new position in shares of R1 RCM Inc. (NASDAQ:RCM) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 177,800 shares of the healthcare provider’s stock, valued at approximately $2,519,000.

A number of other large investors also recently modified their holdings of the company. Gabelli Funds LLC bought a new position in R1 RCM in the first quarter valued at about $2,114,000. BOKF NA bought a new position in R1 RCM in the 1st quarter valued at approximately $1,189,000. Natixis acquired a new stake in R1 RCM during the 1st quarter worth approximately $2,883,000. Tokio Marine Asset Management Co. Ltd. bought a new stake in R1 RCM during the 3rd quarter worth approximately $11,986,000. Finally, Boston Partners increased 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 acquiring an additional 2,519,739 shares during the period. 61.10% of the stock is currently owned by institutional investors.

R1 RCM Price Performance

R1 RCM stock opened at $14.30 on Friday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $6.04 billion, a PE ratio of -95.33 and a beta of 0.84. The firm’s fifty day moving average is $14.21 and its 200 day moving average is $13.40. R1 RCM Inc. has a 12-month low of $8.87 and a 12-month high of $15.12.

R1 RCM (NASDAQ:RCM) last released 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). The company had revenue of $656.80 million for the quarter, compared to the consensus estimate of $640.93 million. R1 RCM had a negative return on equity of 2.18% and a negative net margin of 2.48%. R1 RCM’s revenue was up 14.7% on a year-over-year basis. As a group, sell-side analysts predict that R1 RCM Inc. will post -0.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RCM has been the topic of a number of recent research reports. Leerink Partnrs lowered shares of R1 RCM from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. Cantor Fitzgerald reiterated a “neutral” rating and issued a $14.30 price target on shares of R1 RCM in a research report on Friday, October 4th. Canaccord Genuity Group reissued a “buy” rating and issued a $15.00 price target on shares of R1 RCM in a research note on Monday, July 22nd. Leerink Partners lowered R1 RCM from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $17.00 to $14.30 in a research note on Thursday, August 1st. Finally, Truist Financial decreased their target price 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. 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 MarketBeat, R1 RCM has an average rating of “Hold” and a consensus target price of $15.41.

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.