Prudential Financial Inc. lifted its position in shares of R1 RCM Inc (NASDAQ:RCM) by 104.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 352,570 shares of the financial services provider’s stock after buying an additional 180,360 shares during the quarter. Prudential Financial Inc. owned approximately 0.32% of R1 RCM worth $2,782,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of Montreal Can grew its holdings in shares of R1 RCM by 1,501.7% during the fourth quarter. Bank of Montreal Can now owns 11,388 shares of the financial services provider’s stock worth $90,000 after buying an additional 10,677 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in shares of R1 RCM during the third quarter worth about $139,000. Falcon Point Capital LLC purchased a new stake in shares of R1 RCM during the fourth quarter worth about $112,000. Cim LLC purchased a new stake in shares of R1 RCM during the fourth quarter worth about $120,000. Finally, Ibex Investors LLC purchased a new stake in shares of R1 RCM during the third quarter worth about $215,000. Institutional investors and hedge funds own 66.10% of the company’s stock.
A number of research firms recently issued reports on RCM. Zacks Investment Research upgraded shares of R1 RCM from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a report on Saturday, March 2nd. BidaskClub downgraded shares of R1 RCM from a “hold” rating to a “sell” rating in a report on Saturday, January 19th. Citigroup began coverage on shares of R1 RCM in a report on Monday, December 10th. They issued a “buy” rating and a $20.00 target price for the company. Finally, KeyCorp began coverage on shares of R1 RCM in a report on Tuesday, January 22nd. They issued an “overweight” rating and a $10.00 target price for the company. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. R1 RCM currently has a consensus rating of “Buy” and an average target price of $13.00.
R1 RCM stock opened at $9.90 on Friday. R1 RCM Inc has a 1 year low of $6.95 and a 1 year high of $11.00. The company has a market capitalization of $1.09 billion, a P/E ratio of -30.94 and a beta of 0.11. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 56.51.
R1 RCM (NASDAQ:RCM) last announced its quarterly earnings results on Friday, February 22nd. The financial services provider reported ($0.02) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.02). The firm had revenue of $262.90 million for the quarter, compared to analysts’ expectations of $264.48 million. R1 RCM had a negative net margin of 5.22% and a negative return on equity of 145.94%. The firm’s revenue for the quarter was up 87.4% on a year-over-year basis. On average, research analysts predict that R1 RCM Inc will post 0.13 earnings per share for the current year.
About R1 RCM
R1 RCM Inc provides revenue cycle management (RCM) for healthcare providers in the United States. It offers end-to-end RCM services to manage their revenue cycle operations, which encompass patient registration, insurance and benefit verification, medical treatment documentation and coding, and bill preparation and collection from patients and payers.
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