ING Groep NV Acquires Shares of 177,800 R1 RCM Inc. (NASDAQ:RCM)

ING Groep NV acquired a new stake in R1 RCM Inc. (NASDAQ:RCM) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 177,800 shares of the healthcare provider’s stock, valued at approximately $2,519,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Boston Partners boosted its position in R1 RCM by 4,976.6% during the first quarter. Boston Partners now owns 2,570,371 shares of the healthcare provider’s stock worth $32,784,000 after purchasing an additional 2,519,739 shares during the period. Empyrean Capital Partners LP acquired a new stake in shares of R1 RCM during the 2nd quarter worth about $26,376,000. First Light Asset Management LLC boosted its holdings in shares of R1 RCM by 212.8% during the 1st quarter. First Light Asset Management LLC now owns 2,552,325 shares of the healthcare provider’s stock worth $32,874,000 after buying an additional 1,736,346 shares during the period. Tokio Marine Asset Management Co. Ltd. acquired a new position in R1 RCM in the 3rd quarter valued at about $11,986,000. Finally, Engine Capital Management LP raised its holdings in R1 RCM by 96.0% in the 2nd quarter. Engine Capital Management LP now owns 1,348,664 shares of the healthcare provider’s stock valued at $16,939,000 after acquiring an additional 660,428 shares during the period. 61.10% of the stock is currently owned by institutional investors.

R1 RCM Stock Performance

Shares of NASDAQ:RCM opened at $14.30 on Friday. R1 RCM Inc. has a 1 year low of $8.87 and a 1 year high of $15.12. The stock has a market capitalization of $6.04 billion, a price-to-earnings ratio of -95.33 and a beta of 0.84. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.79 and a quick ratio of 1.79. The company’s 50 day simple moving average is $14.21 and its 200 day simple moving average is $13.40.

R1 RCM (NASDAQ:RCM) last issued its earnings results 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). R1 RCM had a negative net margin of 2.48% and a negative return on equity of 2.18%. The business had revenue of $656.80 million during the quarter, compared to analyst estimates of $640.93 million. The firm’s revenue was up 14.7% on a year-over-year basis. As a group, research analysts predict that R1 RCM Inc. will post -0.38 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RCM. Leerink Partnrs cut R1 RCM from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. Truist Financial decreased their price objective on R1 RCM from $16.00 to $14.30 and set a “hold” rating on the stock in a report on Thursday, August 8th. Canaccord Genuity Group reissued a “buy” rating and set a $15.00 target price on shares of R1 RCM in a report on Monday, July 22nd. Morgan Stanley downgraded shares of R1 RCM from an “overweight” rating to an “equal weight” rating in a research note on Thursday, August 8th. Finally, Leerink Partners lowered shares of R1 RCM from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $17.00 to $14.30 in a research report on Thursday, August 1st. Thirteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $15.41.

About R1 RCM

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.