Alpine Associates Management Inc. Acquires New Position in R1 RCM Inc. (NASDAQ:RCM)

Alpine Associates Management Inc. purchased a new stake in shares of R1 RCM Inc. (NASDAQ:RCM - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 1,812,300 shares of the healthcare provider's stock, valued at approximately $25,680,000. R1 RCM accounts for approximately 1.2% of Alpine Associates Management Inc.'s holdings, making the stock its 23rd largest holding. Alpine Associates Management Inc. owned about 0.43% of R1 RCM at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Advisors Asset Management Inc. purchased a new position in shares of R1 RCM during the first quarter valued at approximately $27,000. GAMMA Investing LLC boosted its stake in shares of R1 RCM by 41.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,597 shares of the healthcare provider's stock worth $37,000 after acquiring an additional 759 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of R1 RCM by 589.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,122 shares of the healthcare provider's stock valued at $44,000 after acquiring an additional 2,669 shares during the period. Values First Advisors Inc. bought a new position in R1 RCM in the 3rd quarter worth $88,000. Finally, ANTIPODES PARTNERS Ltd bought a new position in R1 RCM in the 2nd quarter worth $86,000. 61.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RCM. Truist Financial reduced their price target on R1 RCM from $16.00 to $14.30 and set a "hold" rating for the company in a research report on Thursday, August 8th. Stephens lowered shares of R1 RCM from an "overweight" rating to an "equal weight" rating in a research report on Thursday, August 1st. Morgan Stanley downgraded R1 RCM from an "overweight" rating to an "equal weight" rating in a research report on Thursday, August 8th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $14.30 price objective on shares of R1 RCM in a report on Friday, October 4th. Finally, Jefferies Financial Group lowered shares of R1 RCM from a "buy" rating to a "hold" rating in a report on Thursday, August 1st. Thirteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, R1 RCM presently has a consensus rating of "Hold" and a consensus price target of $15.41.

R1 RCM Stock Performance

Shares of RCM stock remained flat at $14.31 during mid-day trading on Wednesday. R1 RCM Inc. has a 1-year low of $8.87 and a 1-year high of $15.12. 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 business's fifty day moving average price is $14.22 and its 200-day moving average price is $13.44. The firm has a market cap of $6.04 billion, a P/E ratio of -95.40 and a beta of 0.84.

R1 RCM (NASDAQ:RCM - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The healthcare provider reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.04). R1 RCM had a negative return on equity of 2.18% and a negative net margin of 2.48%. The business had revenue of $656.80 million during the quarter, compared to analysts' expectations of $640.93 million. The firm's revenue was up 14.7% on a year-over-year basis. Equities analysts anticipate that R1 RCM Inc. will post -0.38 EPS for the current fiscal year.

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.