R1 RCM Inc. (NASDAQ:RCM) Shares Bought by Harvest Management LLC

Harvest Management LLC raised its holdings in R1 RCM Inc. (NASDAQ:RCM) by 407.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 119,700 shares of the healthcare provider’s stock after purchasing an additional 96,100 shares during the quarter. R1 RCM comprises approximately 0.9% of Harvest Management LLC’s portfolio, making the stock its 19th largest holding. Harvest Management LLC’s holdings in R1 RCM were worth $1,696,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its stake in R1 RCM by 5.5% in the 1st 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 during the last quarter. QRG Capital Management Inc. raised its stake in shares of 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 acquiring an additional 1,080 shares during the period. SG Americas Securities LLC purchased a new position in R1 RCM in the 2nd quarter worth approximately $213,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of R1 RCM by 26.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,902 shares of the healthcare provider’s stock worth $551,000 after acquiring an additional 9,149 shares during the last quarter. Finally, Intact Investment Management Inc. acquired a new position in R1 RCM during the 2nd quarter worth $621,000. 61.10% of the stock is owned by institutional investors and hedge funds.

R1 RCM Stock Performance

NASDAQ:RCM opened at $14.31 on Tuesday. The stock has a market cap of $6.04 billion, a P/E ratio of -95.39 and a beta of 0.84. 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 firm’s fifty day simple moving average is $14.25 and its 200 day simple moving average is $13.54. R1 RCM Inc. has a twelve month low of $8.87 and a twelve month high of $15.12.

R1 RCM (NASDAQ:RCM) last issued its quarterly earnings data on Tuesday, November 5th. The healthcare provider reported ($0.05) earnings per share 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 net margin of 2.48% and a negative return on equity of 2.18%. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, research analysts predict that R1 RCM Inc. will post -0.18 EPS for the current year.

Wall Street Analyst Weigh In

RCM has been the subject of several recent research reports. Cantor Fitzgerald restated 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 target price on R1 RCM from $16.00 to $14.30 and set a “hold” rating on the stock in a report on Thursday, August 8th. Morgan Stanley lowered shares of R1 RCM from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 8th. Finally, TD Cowen reissued a “hold” rating and set a $14.30 price objective (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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.