R1 RCM Inc. (NASDAQ:RCM) Shares Sold by M&T Bank Corp

M&T Bank Corp decreased its stake in R1 RCM Inc. (NASDAQ:RCM) by 57.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,401 shares of the healthcare provider’s stock after selling 14,003 shares during the period. M&T Bank Corp’s holdings in R1 RCM were worth $147,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in shares of R1 RCM by 41.3% in 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 during the period. Arizona State Retirement System lifted its position in R1 RCM by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 47,063 shares of the healthcare provider’s stock worth $591,000 after acquiring an additional 969 shares during the period. Victory Capital Management Inc. grew its stake in shares of R1 RCM by 7.7% in the 2nd quarter. Victory Capital Management Inc. now owns 36,006 shares of the healthcare provider’s stock valued at $452,000 after purchasing an additional 2,574 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of 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 valued at $44,000 after purchasing an additional 2,669 shares during the period. Finally, Vanguard Personalized Indexing Management LLC raised its stake in shares of R1 RCM by 46.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,946 shares of the healthcare provider’s stock worth $200,000 after purchasing an additional 5,049 shares during the last quarter. 61.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald reiterated a “neutral” rating and issued a $14.30 price objective on shares of R1 RCM in a research report on Friday, October 4th. Twelve investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, R1 RCM currently has an average rating of “Hold” and a consensus price target of $15.73.

R1 RCM Price Performance

RCM stock opened at $14.31 on Friday. The firm has a 50 day moving average of $14.28 and a 200-day moving average of $13.71. The company has a market cap of $6.04 billion, a price-to-earnings ratio of -95.39 and a beta of 0.84. 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 12-month low of $8.87 and a 12-month high of $15.12.

R1 RCM (NASDAQ:RCM) last posted 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). 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 revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, equities analysts expect that R1 RCM Inc. will post -0.18 EPS for the current fiscal year.

About R1 RCM

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.