R1 RCM Inc. (NASDAQ:RCM) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA lessened its stake in R1 RCM Inc. (NASDAQ:RCM) by 46.7% in the third quarter, Holdings Channel reports. The institutional investor owned 736,110 shares of the healthcare provider’s stock after selling 645,502 shares during the quarter. Glenmede Trust Co. NA’s holdings in R1 RCM were worth $10,431,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position 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 worth $37,000 after acquiring an additional 759 shares in the last quarter. Arizona State Retirement System boosted its holdings in R1 RCM by 2.1% in the second quarter. Arizona State Retirement System now owns 47,063 shares of the healthcare provider’s stock worth $591,000 after purchasing an additional 969 shares during the period. QRG Capital Management Inc. increased its stake in R1 RCM by 10.6% during the second quarter. QRG Capital Management Inc. now owns 11,307 shares of the healthcare provider’s stock valued at $142,000 after purchasing an additional 1,080 shares during the last quarter. Advisors Asset Management Inc. acquired a new stake in shares of R1 RCM during the first quarter worth $27,000. Finally, Victory Capital Management Inc. lifted its position 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 worth $452,000 after buying an additional 2,574 shares during the last quarter. 61.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RCM has been the subject of a number of recent research reports. TD Cowen reaffirmed a “hold” rating and set a $14.30 price objective (down previously from $20.00) on shares of R1 RCM in a research report on Monday, August 5th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $14.30 target price on shares of R1 RCM in a report on Friday, October 4th. Truist Financial cut their price target on R1 RCM from $16.00 to $14.30 and set a “hold” rating on the stock in a report on Thursday, August 8th. Finally, Morgan Stanley lowered shares of R1 RCM from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 8th. Thirteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, R1 RCM currently has an average rating of “Hold” and an average price target of $15.41.

R1 RCM Stock Performance

Shares of RCM opened at $14.31 on Friday. R1 RCM Inc. has a 12-month low of $8.87 and a 12-month high of $15.12. The stock has a market capitalization of $6.04 billion, a P/E ratio of -95.39 and a beta of 0.84. The firm’s 50 day moving average is $14.24 and its 200-day moving average is $13.51. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.79 and a quick ratio of 1.79.

R1 RCM (NASDAQ:RCM) last posted its quarterly earnings results on Tuesday, November 5th. The healthcare provider reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The company had revenue of $656.80 million during the quarter, compared to the consensus estimate of $640.93 million. R1 RCM had a negative net margin of 2.48% and a negative return on equity of 2.18%. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. Equities research analysts anticipate that R1 RCM Inc. will post -0.18 EPS for the current fiscal year.

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.