1,812,300 Shares in R1 RCM Inc. (NASDAQ:RCM) Acquired by Alpine Associates Management Inc.

Alpine Associates Management Inc. purchased a new stake in shares of R1 RCM Inc. (NASDAQ:RCM) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,812,300 shares of the healthcare provider’s stock, valued at approximately $25,680,000. R1 RCM accounts for about 1.2% of Alpine Associates Management Inc.’s portfolio, making the stock its 23rd biggest holding. Alpine Associates Management Inc. owned about 0.43% of R1 RCM at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RCM. GAMMA Investing LLC increased its position in shares of R1 RCM by 41.3% during the third quarter. GAMMA Investing LLC now owns 2,597 shares of the healthcare provider’s stock worth $37,000 after acquiring an additional 759 shares in the last quarter. Arizona State Retirement System grew its position in shares of R1 RCM by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 47,063 shares of the healthcare provider’s stock valued at $591,000 after acquiring an additional 969 shares during the period. QRG Capital Management Inc. grew its position 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. Advisors Asset Management Inc. bought a new position in shares of R1 RCM in the 1st quarter valued at about $27,000. Finally, Victory Capital Management Inc. lifted its stake in shares of R1 RCM by 7.7% during the 2nd quarter. Victory Capital Management Inc. now owns 36,006 shares of the healthcare provider’s stock worth $452,000 after buying an additional 2,574 shares during the last quarter. 61.10% of the stock is owned by institutional investors.

R1 RCM Price Performance

RCM opened at $14.31 on Wednesday. The firm has a market cap of $6.04 billion, a P/E ratio of -95.40 and a beta of 0.84. The firm has a 50-day moving average of $14.22 and a 200 day moving average of $13.44. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.79 and a current ratio of 1.79. R1 RCM Inc. has a fifty-two week low of $8.87 and a fifty-two week high of $15.12.

R1 RCM (NASDAQ:RCM) last released its quarterly earnings data on Tuesday, November 5th. The healthcare provider reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The business 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 firm’s revenue was up 14.7% compared to the same quarter last year. On average, research analysts expect that R1 RCM Inc. will post -0.38 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on RCM. Morgan Stanley cut shares of R1 RCM from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 8th. TD Cowen reissued a “hold” rating and issued a $14.30 target price (down from $20.00) on shares of R1 RCM in a report on Monday, August 5th. Truist Financial decreased their price target on shares of R1 RCM from $16.00 to $14.30 and set a “hold” rating on the stock in a report on Thursday, August 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $14.30 price target on shares of R1 RCM in a report on Friday, October 4th. Finally, Jefferies Financial Group lowered shares of R1 RCM from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Thirteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, R1 RCM presently has an average rating of “Hold” and a consensus target price of $15.41.

R1 RCM Company 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.