ING Groep NV Acquires New Holdings in R1 RCM Inc. (NASDAQ:RCM)

ING Groep NV purchased a new position in R1 RCM Inc. (NASDAQ:RCM - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 177,800 shares of the healthcare provider's stock, valued at approximately $2,519,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Tokio Marine Asset Management Co. Ltd. bought a new stake in R1 RCM during the 3rd quarter valued at $11,986,000. Wolverine Asset Management LLC purchased a new stake in R1 RCM in the third quarter worth about $2,335,000. Values First Advisors Inc. bought a new position in R1 RCM during the 3rd quarter worth about $88,000. Allspring Global Investments Holdings LLC grew its holdings in 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 worth $44,000 after acquiring an additional 2,669 shares in the last quarter. Finally, Creative Planning purchased a new position in R1 RCM during the 3rd quarter valued at about $142,000. Hedge funds and other institutional investors own 61.10% of the company's stock.

R1 RCM Stock Performance

NASDAQ RCM remained flat at $14.30 during trading on Friday. 17,439,510 shares of the company's stock were exchanged, compared to its average volume of 1,934,696. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.76. R1 RCM Inc. has a one year low of $8.87 and a one year high of $15.12. The business's fifty day moving average is $14.21 and its two-hundred day moving average is $13.41. The firm has a market capitalization of $6.04 billion, a price-to-earnings ratio of -95.33 and a beta of 0.84.

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Truist Financial cut their target price on R1 RCM from $16.00 to $14.30 and set a "hold" rating on the stock in a research note on Thursday, August 8th. Leerink Partnrs lowered R1 RCM from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 1st. TD Cowen reiterated a "hold" rating and set a $14.30 price target (down previously from $20.00) on shares of R1 RCM in a research report on Monday, August 5th. Jefferies Financial Group downgraded R1 RCM from a "buy" rating to a "hold" rating in a research report on Thursday, August 1st. Finally, Morgan Stanley cut R1 RCM from an "overweight" rating to an "equal weight" rating in a report on Thursday, August 8th. Thirteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price 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.