Principal Financial Group Inc. Trims Holdings in R1 RCM Inc. (NASDAQ:RCM)

Principal Financial Group Inc. lowered its position in R1 RCM Inc. (NASDAQ:RCM - Free Report) by 44.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 SEC filing.

A number of other hedge funds have also made changes to their positions in the business. GAMMA Investing LLC increased its holdings in R1 RCM by 41.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,597 shares of the healthcare provider's stock valued at $37,000 after acquiring an additional 759 shares in the last quarter. Arizona State Retirement System lifted its stake in R1 RCM by 2.1% during the second quarter. Arizona State Retirement System now owns 47,063 shares of the healthcare provider's stock worth $591,000 after purchasing an additional 969 shares during the last quarter. QRG Capital Management Inc. boosted its stake in R1 RCM by 10.6% in the second quarter. QRG Capital Management Inc. now owns 11,307 shares of the healthcare provider's stock valued at $142,000 after acquiring an additional 1,080 shares during the period. Advisors Asset Management Inc. bought a new position in shares of R1 RCM in the first quarter worth $27,000. Finally, Victory Capital Management Inc. raised its holdings in R1 RCM by 7.7% during the second quarter. Victory Capital Management Inc. now owns 36,006 shares of the healthcare provider's stock worth $452,000 after purchasing an additional 2,574 shares in the last quarter. Hedge funds and other institutional investors own 61.10% of the company's stock.

Analysts Set New Price Targets

RCM has been the topic of a number of research reports. Morgan Stanley downgraded R1 RCM from an "overweight" rating to an "equal weight" rating in a 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. TD Cowen restated a "hold" rating and issued a $14.30 target price (down from $20.00) on shares of R1 RCM in a research note on Monday, August 5th. Leerink Partnrs cut shares of R1 RCM from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 1st. Finally, Leerink Partners cut shares of R1 RCM from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $17.00 to $14.30 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. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $15.41.

R1 RCM Stock Performance

NASDAQ RCM remained flat at $14.31 on Thursday. R1 RCM Inc. has a 12 month low of $8.87 and a 12 month 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. The company's fifty day simple moving average is $14.22 and its 200-day simple moving average is $13.44.

R1 RCM (NASDAQ:RCM - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The healthcare provider reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $656.80 million for the quarter, compared to analyst estimates of $640.93 million. The company's revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, sell-side analysts expect that R1 RCM Inc. will post -0.18 EPS for the current 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.