Van ECK Associates Corp Buys Shares of 5,250 R1 RCM Inc. (NASDAQ:RCM)

Van ECK Associates Corp bought a new stake in R1 RCM Inc. (NASDAQ:RCMGet Rating) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 5,250 shares of the healthcare provider’s stock, valued at approximately $97,000.

Several other large investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. acquired a new stake in R1 RCM in the third quarter valued at $279,000. Strs Ohio grew its holdings in R1 RCM by 1.0% in the third quarter. Strs Ohio now owns 309,500 shares of the healthcare provider’s stock valued at $5,735,000 after purchasing an additional 3,100 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in R1 RCM by 2,483.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,624 shares of the healthcare provider’s stock valued at $85,000 after purchasing an additional 4,445 shares during the last quarter. Texas Permanent School Fund boosted its stake in shares of R1 RCM by 1.9% during the third quarter. Texas Permanent School Fund now owns 98,748 shares of the healthcare provider’s stock valued at $1,830,000 after acquiring an additional 1,883 shares during the last quarter. Finally, Xponance Inc. boosted its stake in shares of R1 RCM by 11.0% during the third quarter. Xponance Inc. now owns 23,187 shares of the healthcare provider’s stock valued at $430,000 after acquiring an additional 2,298 shares during the last quarter. Institutional investors and hedge funds own 97.09% of the company’s stock.

R1 RCM Price Performance

R1 RCM stock opened at $13.03 on Friday. The stock’s 50-day moving average is $10.31 and its 200-day moving average is $17.15. The company has a market cap of $5.43 billion, a price-to-earnings ratio of 217.17, a price-to-earnings-growth ratio of 2.71 and a beta of 0.69. R1 RCM Inc. has a 12 month low of $6.71 and a 12 month high of $27.86.

R1 RCM (NASDAQ:RCMGet Rating) last released its quarterly earnings data on Tuesday, November 8th. The healthcare provider reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.18). The firm had revenue of $496.00 million during the quarter, compared to analysts’ expectations of $522.29 million. R1 RCM had a return on equity of 4.77% and a net margin of 0.93%. Research analysts anticipate that R1 RCM Inc. will post -0.09 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on RCM. Morgan Stanley began coverage on R1 RCM in a research note on Tuesday, December 6th. They set an “equal weight” rating and a $11.00 price objective on the stock. JPMorgan Chase & Co. decreased their price objective on R1 RCM from $33.00 to $11.00 and set an “overweight” rating on the stock in a research note on Friday, November 18th. SVB Leerink decreased their price objective on R1 RCM from $35.00 to $16.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 9th. Cowen decreased their price objective on R1 RCM from $34.00 to $25.00 and set an “outperform” rating on the stock in a research note on Monday, November 14th. Finally, Canaccord Genuity Group began coverage on R1 RCM in a research report on Thursday, January 5th. They set a “buy” rating and a $14.00 target price on the stock. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.64.

About R1 RCM

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R1 RCM Inc provides technology-driven solutions that transform the patient experience and financial performance of hospitals, health systems, and medical groups. It offers end-to-end revenue cycle management (RCM) services, which address the spectrum of revenue cycle challenges faced by healthcare providers.

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Institutional Ownership by Quarter for R1 RCM (NASDAQ:RCM)

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