R1 RCM Inc. (NASDAQ:RCM) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its position in R1 RCM Inc. (NASDAQ:RCM - Free Report) by 44.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 361,603 shares of the healthcare provider's stock after selling 294,789 shares during the quarter. Principal Financial Group Inc. owned approximately 0.09% of R1 RCM worth $5,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Advisors Asset Management Inc. bought a new stake in R1 RCM during the first quarter valued at approximately $27,000. GAMMA Investing LLC grew its position in R1 RCM by 41.3% in the third quarter. GAMMA Investing LLC now owns 2,597 shares of the healthcare provider's stock worth $37,000 after acquiring an additional 759 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in R1 RCM by 589.2% in the third 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. ANTIPODES PARTNERS Ltd bought a new position in R1 RCM in the second quarter valued at $86,000. Finally, Values First Advisors Inc. purchased a new stake in R1 RCM during the third quarter valued at about $88,000. 61.10% of the stock is currently owned by institutional investors.

R1 RCM Stock Performance

Shares of R1 RCM stock opened at $14.31 on Thursday. 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 stock's 50 day simple moving average is $14.22 and its 200-day simple moving average is $13.44. The stock has a market cap of $6.04 billion, a P/E ratio of -95.40 and a beta of 0.84. R1 RCM Inc. has a 1-year low of $8.87 and a 1-year high of $15.12.

R1 RCM (NASDAQ:RCM - Get Free Report) last announced its 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 company had revenue of $656.80 million for the quarter, compared to analysts' expectations of $640.93 million. The firm's revenue was up 14.7% compared to the same quarter last year. Analysts predict that R1 RCM Inc. will post -0.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RCM. TD Cowen reaffirmed a "hold" rating and set a $14.30 price objective (down from $20.00) on shares of R1 RCM in a research note on Monday, August 5th. Morgan Stanley downgraded R1 RCM from an "overweight" rating to an "equal weight" rating in a research report on Thursday, August 8th. Jefferies Financial Group lowered R1 RCM from a "buy" rating to a "hold" rating in a research note on Thursday, August 1st. Leerink Partners downgraded shares of R1 RCM from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $17.00 to $14.30 in a research note on Thursday, August 1st. Finally, Stephens cut shares of R1 RCM from an "overweight" rating to an "equal weight" rating in a research report on Thursday, August 1st. Thirteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus 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.