Natixis Invests $2.88 Million in R1 RCM Inc. (NASDAQ:RCM)

Natixis purchased a new position in shares of R1 RCM Inc. (NASDAQ:RCM) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 223,850 shares of the healthcare provider’s stock, valued at approximately $2,883,000. Natixis owned 0.05% of R1 RCM at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of R1 RCM by 5.6% during the 3rd quarter. Vanguard Group Inc. now owns 17,940,792 shares of the healthcare provider’s stock worth $270,368,000 after purchasing an additional 947,310 shares during the period. Capital International Investors grew its holdings in R1 RCM by 0.8% in the 4th quarter. Capital International Investors now owns 8,343,199 shares of the healthcare provider’s stock worth $88,188,000 after buying an additional 67,485 shares in the last quarter. Voss Capital LLC grew its holdings in R1 RCM by 553.9% in the 4th quarter. Voss Capital LLC now owns 7,125,000 shares of the healthcare provider’s stock worth $75,311,000 after buying an additional 6,035,340 shares in the last quarter. Norges Bank bought a new position in R1 RCM in the 4th quarter worth approximately $42,539,000. Finally, P2 Capital Partners LLC grew its holdings in R1 RCM by 70,366.3% in the 4th quarter. P2 Capital Partners LLC now owns 3,535,294 shares of the healthcare provider’s stock worth $37,368,000 after buying an additional 3,530,277 shares in the last quarter. 61.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RCM. Truist Financial reissued a “hold” rating and issued a $16.00 price objective on shares of R1 RCM in a report on Monday, April 1st. Canaccord Genuity Group reissued a “buy” rating and issued a $15.00 price objective on shares of R1 RCM in a report on Monday. Deutsche Bank Aktiengesellschaft increased their price target on R1 RCM from $14.00 to $16.00 and gave the company a “hold” rating in a research note on Tuesday, July 9th. Robert W. Baird reaffirmed an “outperform” rating and set a $18.00 price target on shares of R1 RCM in a research note on Tuesday, July 2nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $20.00 price target on shares of R1 RCM in a research note on Tuesday, July 2nd. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, R1 RCM currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

R1 RCM Price Performance

Shares of NASDAQ:RCM traded up $0.01 on Friday, reaching $12.93. 34,889 shares of the company traded hands, compared to its average volume of 3,098,907. The company’s 50 day moving average is $12.54 and its 200-day moving average is $12.14. The stock has a market capitalization of $5.45 billion, a PE ratio of -161.50 and a beta of 0.85. R1 RCM Inc. has a fifty-two week low of $8.87 and a fifty-two week high of $18.53. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.79 and a quick ratio of 1.79.

R1 RCM (NASDAQ:RCM) last released its 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). The business had revenue of $603.90 million during the quarter, compared to analysts’ expectations of $612.88 million. R1 RCM had a negative net margin of 1.39% and a negative return on equity of 1.16%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. As a group, analysts anticipate 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.