Point72 Asset Management L.P. decreased its position in R1 RCM Inc (NASDAQ:RCM) by 42.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 439,372 shares of the healthcare provider’s stock after selling 322,524 shares during the quarter. Point72 Asset Management L.P. owned about 0.39% of R1 RCM worth $3,924,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in R1 RCM by 38.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,817 shares of the healthcare provider’s stock worth $52,000 after buying an additional 1,625 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of R1 RCM in the third quarter valued at about $111,000. Aperio Group LLC bought a new stake in R1 RCM during the 2nd quarter valued at approximately $127,000. NumerixS Investment Technologies Inc lifted its holdings in shares of R1 RCM by 73.3% during the second quarter. NumerixS Investment Technologies Inc now owns 10,400 shares of the healthcare provider’s stock worth $131,000 after buying an additional 4,400 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in R1 RCM during the second quarter worth $139,000. 70.60% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:RCM traded up $0.21 during trading hours on Wednesday, hitting $12.66. 453,808 shares of the stock were exchanged, compared to its average volume of 1,180,287. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 29.28. The company has a market capitalization of $1.43 billion, a P/E ratio of -39.56 and a beta of 0.18. The company’s 50 day moving average is $12.37 and its two-hundred day moving average is $11.65. R1 RCM Inc has a twelve month low of $7.10 and a twelve month high of $13.19.
R1 RCM (NASDAQ:RCM) last posted its quarterly earnings results on Tuesday, November 5th. The healthcare provider reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.08). The company had revenue of $301.20 million during the quarter, compared to the consensus estimate of $302.85 million. R1 RCM had a positive return on equity of 100.31% and a negative net margin of 0.13%. The firm’s revenue for the quarter was up 20.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.17) earnings per share.
Several equities analysts recently issued reports on RCM shares. Robert W. Baird set a $14.00 price target on R1 RCM and gave the company a “buy” rating in a research note on Thursday, September 12th. BidaskClub lowered shares of R1 RCM from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 17th. ValuEngine raised R1 RCM from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, Zacks Investment Research cut R1 RCM from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $11.75.
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.
Further Reading: How Do You Calculate Return on Equity (ROE)?
Receive News & Ratings for R1 RCM Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for R1 RCM and related companies with MarketBeat.com’s FREE daily email newsletter.