R1 RCM Inc. (NASDAQ:RCM) is Melqart Asset Management UK Ltd’s 5th Largest Position

Melqart Asset Management UK Ltd reduced its holdings in R1 RCM Inc. (NASDAQ:RCM) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,801,908 shares of the healthcare provider’s stock after selling 23,597 shares during the quarter. R1 RCM comprises 6.2% of Melqart Asset Management UK Ltd’s portfolio, making the stock its 5th biggest holding. Melqart Asset Management UK Ltd owned approximately 1.14% of R1 RCM worth $68,043,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of RCM. Murchinson Ltd. bought a new stake in shares of R1 RCM during the third quarter valued at approximately $184,000. Harvest Management LLC increased its holdings in R1 RCM by 407.2% in the 3rd quarter. Harvest Management LLC now owns 119,700 shares of the healthcare provider’s stock valued at $1,696,000 after buying an additional 96,100 shares during the period. HGC Investment Management Inc. acquired a new position in shares of R1 RCM in the 3rd quarter valued at $432,000. ClearAlpha Technologies LP lifted its holdings in shares of R1 RCM by 41.6% during the 3rd quarter. ClearAlpha Technologies LP now owns 105,381 shares of the healthcare provider’s stock worth $1,493,000 after acquiring an additional 30,937 shares during the period. Finally, Bardin Hill Management Partners LP lifted its holdings in shares of R1 RCM by 2.0% during the 3rd quarter. Bardin Hill Management Partners LP now owns 535,939 shares of the healthcare provider’s stock worth $7,594,000 after acquiring an additional 10,728 shares during the period. 61.10% of the stock is owned by institutional investors.

R1 RCM Price Performance

Shares of RCM stock opened at $14.31 on Wednesday. The firm’s 50 day moving average price is $14.25 and its two-hundred day moving average price is $13.56. The stock has a market cap of $6.04 billion, a PE ratio of -95.39 and a beta of 0.84. R1 RCM Inc. has a 52-week low of $8.87 and a 52-week high of $15.12. 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 (NASDAQ:RCM) last released its quarterly earnings data on Tuesday, November 5th. The healthcare provider reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). The company had revenue of $656.80 million during 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 company’s revenue was up 14.7% compared to the same quarter last year. As a group, analysts forecast that R1 RCM Inc. will post -0.18 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on RCM shares. Truist Financial dropped their price target on shares of R1 RCM from $16.00 to $14.30 and set a “hold” rating for the company in a research report on Thursday, August 8th. Morgan Stanley cut R1 RCM from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 8th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $14.30 price objective on shares of R1 RCM in a report on Friday, October 4th. Thirteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.