ANTIPODES PARTNERS Ltd Acquires New Shares in R1 RCM Inc. (NASDAQ:RCM)

ANTIPODES PARTNERS Ltd acquired a new stake in R1 RCM Inc. (NASDAQ:RCM) in the second quarter, according to its most recent filing with the SEC. The fund acquired 6,835 shares of the healthcare provider’s stock, valued at approximately $86,000.

A number of other hedge funds have also bought and sold shares of RCM. Advisors Asset Management Inc. bought a new position in R1 RCM in the 1st quarter valued at $27,000. Van ECK Associates Corp boosted its holdings in R1 RCM by 20.5% in the 4th quarter. Van ECK Associates Corp now owns 6,141 shares of the healthcare provider’s stock valued at $65,000 after purchasing an additional 1,044 shares during the period. QRG Capital Management Inc. bought a new position in R1 RCM in the 1st quarter valued at $132,000. Caas Capital Management LP bought a new stake in shares of R1 RCM during the 4th quarter worth $148,000. Finally, CIBC Asset Management Inc bought a new stake in shares of R1 RCM during the 2nd quarter worth $149,000. 61.10% of the stock is currently owned by hedge funds and other institutional investors.

R1 RCM Price Performance

Shares of NASDAQ RCM opened at $14.08 on Friday. R1 RCM Inc. has a 1 year low of $8.87 and a 1 year high of $17.43. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.84 and a quick ratio of 1.84. The company’s 50-day moving average is $13.34 and its 200 day moving average is $12.90. The stock has a market capitalization of $5.93 billion, a P/E ratio of -176.00 and a beta of 0.85.

R1 RCM (NASDAQ:RCM) last announced its quarterly earnings results on Wednesday, August 7th. The healthcare provider reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. R1 RCM had a negative net margin of 1.68% and a negative return on equity of 1.44%. The company had revenue of $627.90 million for the quarter, compared to analysts’ expectations of $633.10 million. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, sell-side analysts expect that R1 RCM Inc. will post -0.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

RCM has been the subject of a number of research analyst reports. Morgan Stanley downgraded shares of R1 RCM from an “overweight” rating to an “equal weight” rating in a 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 Tuesday, August 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $19.00 price objective on shares of R1 RCM in a report on Friday, June 28th. Leerink Partners downgraded shares of R1 RCM from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $17.00 to $14.30 in a report on Thursday, August 1st. Finally, Leerink Partnrs cut shares of R1 RCM from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Thirteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, R1 RCM has a consensus rating of “Hold” and an average target price of $15.41.

R1 RCM Company 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.