Campbell & CO Investment Adviser LLC acquired a new position in R1 RCM Inc (NASDAQ:RCM) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 35,022 shares of the financial services provider’s stock, valued at approximately $339,000.
Several other institutional investors and hedge funds have also made changes to their positions in RCM. PNC Financial Services Group Inc. grew its position in R1 RCM by 64.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,463 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 2,926 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in R1 RCM in the first quarter valued at approximately $67,000. Bank of Montreal Can lifted its stake in R1 RCM by 1,501.7% in the fourth quarter. Bank of Montreal Can now owns 11,388 shares of the financial services provider’s stock valued at $90,000 after acquiring an additional 10,677 shares during the last quarter. Amalgamated Bank acquired a new stake in R1 RCM in the fourth quarter valued at approximately $123,000. Finally, SG Americas Securities LLC acquired a new stake in R1 RCM in the first quarter valued at approximately $142,000. 69.69% of the stock is currently owned by institutional investors.
RCM has been the subject of a number of analyst reports. 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 research note on Saturday, March 2nd. BidaskClub cut shares of R1 RCM from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Finally, Cantor Fitzgerald upped their target price on shares of R1 RCM from $11.00 to $13.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $14.20.
R1 RCM (NASDAQ:RCM) last issued its quarterly earnings results on Thursday, May 9th. The financial services provider reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The business had revenue of $275.90 million for the quarter, compared to the consensus estimate of $266.37 million. R1 RCM had a negative net margin of 2.19% and a negative return on equity of 118.28%. The firm’s quarterly revenue was up 87.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.26) EPS. On average, analysts anticipate that R1 RCM Inc will post 0.12 EPS for the current fiscal year.
In other R1 RCM news, Director Charles J. Ditkoff sold 4,099 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $11.72, for a total transaction of $48,040.28. Following the transaction, the director now directly owns 4,099 shares in the company, valued at approximately $48,040.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 59.40% of the stock is owned by corporate insiders.
R1 RCM Company Profile
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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