Clearbridge Investments LLC Purchases 168,197 Shares of R1 RCM Inc. (NASDAQ:RCM)

Clearbridge Investments LLC boosted its position in shares of R1 RCM Inc. (NASDAQ:RCM) by 16.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,162,703 shares of the healthcare provider’s stock after buying an additional 168,197 shares during the period. Clearbridge Investments LLC owned approximately 0.28% of R1 RCM worth $14,976,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ANTIPODES PARTNERS Ltd lifted its stake in shares of R1 RCM by 429.5% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 5,623 shares of the healthcare provider’s stock valued at $59,000 after purchasing an additional 4,561 shares during the last quarter. Salem Investment Counselors Inc. bought a new stake in shares of R1 RCM in the 4th quarter valued at approximately $61,000. Van ECK Associates Corp lifted its stake in shares of 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 last quarter. QRG Capital Management Inc. bought a new stake in shares of R1 RCM in the 1st quarter valued at approximately $132,000. Finally, Caas Capital Management LP bought a new stake in shares of R1 RCM in the 4th quarter valued at approximately $148,000. 61.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $19.00 price objective on shares of R1 RCM in a research note on Friday, June 28th. Cantor Fitzgerald reissued an “overweight” rating and set a $20.00 price target on shares of R1 RCM in a research note on Tuesday, July 2nd. Robert W. Baird reissued an “outperform” rating and set a $18.00 price target on shares of R1 RCM in a research note on Tuesday, July 2nd. Canaccord Genuity Group reissued a “buy” rating and set a $15.00 price target on shares of R1 RCM in a research note on Monday. Finally, Guggenheim decreased their price target on R1 RCM from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $16.00.

R1 RCM Stock Down 2.1 %

Shares of NASDAQ:RCM traded down $0.28 on Wednesday, reaching $13.15. The company had a trading volume of 2,562,698 shares, compared to its average volume of 3,131,124. R1 RCM Inc. has a 52-week low of $8.87 and a 52-week high of $18.53. The firm’s 50 day simple moving average is $12.51 and its 200-day simple moving average is $12.12. The firm has a market capitalization of $5.54 billion, a PE ratio of -167.88 and a beta of 0.85. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.78.

R1 RCM (NASDAQ:RCM) last announced its quarterly earnings results on Wednesday, May 8th. The healthcare provider reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). R1 RCM had a negative net margin of 1.39% and a negative return on equity of 1.16%. The company had revenue of $603.90 million during the quarter, compared to analysts’ expectations of $612.88 million. The company’s revenue was up 10.7% on a year-over-year basis. As a group, analysts expect that R1 RCM Inc. will post -0.2 earnings per share 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.