January 27, 2023

Assenagon Asset Management SA’s latest 13F filing with the Securities and Exchange Commission revealed that the company increased its stake in R1 RCM Inc. (NASDAQ: RCM) in the third quarter. The mutual fund spent nearly $279,000 to acquire a total of 15,077 shares of the healthcare provider.

Additionally, hedge funds and various other institutional investors have changed the percentage of their assets held in RCM following recent market events. During the first three months of 2018, JPMorgan Chase & Co. increased the proportion of R1 RCM holdings in its portfolio by 4.0 percent. JPMorgan Chase & Co. now owns a total of 289,403 shares of the healthcare provider after purchasing an additional 11,065 shares in the most recent fiscal quarter. These shares are valued at $7,745,000. HighTower Advisors LLC invested approximately $205,000 in the first quarter of the year to increase its stake in R1 RCM. The percentage of R1 RCM held by the Pennsylvania public school employee pension system increased 10.8 percentage points in the first quarter. The Commonwealth of Pennsylvania Public School Empls’ Retirement System now owns 48,944 shares of the healthcare provider, after buying an additional 4,765 shares in the last reporting period. The combined value of all these shares is $1,310,000. The Great West Life Assurance Company of Canada increased its stake in R1 RCM by 8.4 percentage points in the first three months of 2018. Great West Life Assurance Co. owns 72,724 shares worth $1,999,000.00 after purchasing an additional 5,648 shares in the previous quarter. These shares were purchased to bring the company’s total number of shares to 72,724. Finally, in the first three months of this year, Yousif Capital Management LLC increased its position in R1 RCM by purchasing an additional 2.4 percent of its shares. Yousif Capital Management LLC now has a total of 70,495 shares worth $1,886,000 thanks to the purchase of an additional 1,632 shares in the prior quarter. These shares belong to the healthcare provider. Most of the company’s shares are currently held by institutional investors and hedge funds, which account for 97.09% of the total.

When trading began Thursday, a share price of R1 RCM was priced at $13.16 per share. The fifty-day simple moving average for the company currently stands at $10.19 and the 200-day simple moving average currently stands at $17.18. In the last 52 weeks, the highest and lowest price for R1 RCM Inc. was $27.86. The company’s market value is $5.48 billion and its price-to-earnings ratio is currently 219.33. Its price-to-earnings-to-growth ratio is 2.71 and its beta is 0.69. The beta value of this stock is 0.69.

On November 8th the latest earnings report for R1 RCM was released. R1 RCM is a public company whose shares are identified by the ticker NASDAQ: RCM. The healthcare provider’s reported earnings per share (EPS) for the quarter were $0.07, down $0.18 from its median guidance of $0.11 per share. R1 RCM had a return on equity of 4.77% and a net margin of 0.93% according to the financial statements. The company’s revenue for the quarter was $496 million, significantly less than the $522.29 million the company will earn, which industry analysts predicted. The analysts working on the stock exchange assume that R1 RCM Inc. will generate a profit of -0.09 cents per share in the current fiscal year.

Several analysts have recently provided commentary on RCM stock, which you can find here. On Tuesday, December 6th, the Royal Bank of Canada issued a research note raising its price target on R1 RCM to $14.00 from $12.00 and giving the stock an outperform rating. The note discussed the investment the company had made in R1 RCM. Morgan Stanley released a research note on December 6 announcing that the company would begin covering R1 RCM. This announcement has been made. They gave the company an overall rating of breakeven and decided that the price target should be $11.00. On November 14, Cowen released a research note in which they lowered their target price on R1 RCM from $34.00 to $25.00 and gave it an Outperform rating. The research note contained an announcement regarding the price target adjustment. Deutsche Bank Aktiengesellschaft announced in a research note published on November 10 that it had lowered its price target on R1 RCM from $31.00 to $14.00. The new course target can be found here. In a research note distributed by Guggenheim on Wednesday, December 7, brokerage firm R1 upgraded RCM from a “neutral” rating to a “buy” rating and positioned the company’s shares with a price target of $15.00. The upgrade resulted from the brokerage firm’s decision to change R1 RCM from a “buy” rating to a “buy” rating. One expert has suggested investors keep their current position in the stock, while 11 other investors have suggested buying it. According to Bloomberg, the consensus on the price target for R1 RCM is currently $17.36. In addition, the most frequently expressed recommendation is a “moderate buy”.

R1 RCM Inc. provides hospitals, health care systems and medical groups with technology-driven solutions that improve the quality of care for patients in these facilities and the organizations’ overall financial performance. It offers comprehensive Revenue Cycle Management (RCM) services that solve all the problems that can arise in connection with a healthcare provider’s revenue cycle.

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