Oak Ridge Investments LLC Trims Position in R1 RCM Inc. (NASDAQ:RCM)

Oak Ridge Investments LLC decreased its position in shares of R1 RCM Inc. (NASDAQ:RCMGet Rating) by 26.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 296,606 shares of the healthcare provider’s stock after selling 108,735 shares during the period. R1 RCM accounts for approximately 0.9% of Oak Ridge Investments LLC’s portfolio, making the stock its 25th largest holding. Oak Ridge Investments LLC owned approximately 0.11% of R1 RCM worth $7,937,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Strs Ohio purchased a new position in R1 RCM during the first quarter worth approximately $69,000. Cordasco Financial Network acquired a new stake in shares of R1 RCM in the first quarter worth $36,000. Retirement Systems of Alabama increased its position in shares of R1 RCM by 0.4% in the first quarter. Retirement Systems of Alabama now owns 175,230 shares of the healthcare provider’s stock worth $4,689,000 after acquiring an additional 742 shares in the last quarter. Insight Wealth Strategies LLC grew its holdings in R1 RCM by 1.6% during the 1st quarter. Insight Wealth Strategies LLC now owns 103,573 shares of the healthcare provider’s stock valued at $2,772,000 after purchasing an additional 1,618 shares in the last quarter. Finally, Penn Capital Management Company LLC grew its holdings in R1 RCM by 0.4% during the 4th quarter. Penn Capital Management Company LLC now owns 409,152 shares of the healthcare provider’s stock valued at $9,173,000 after purchasing an additional 1,482 shares in the last quarter. 41.97% of the stock is currently owned by institutional investors.

A number of equities research analysts recently weighed in on the stock. TheStreet raised shares of R1 RCM from a “d” rating to a “c” rating in a report on Monday, May 9th. Guggenheim initiated coverage on shares of R1 RCM in a report on Wednesday, April 13th. They set a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of R1 RCM from $28.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, June 29th. Finally, Barclays restated an “overweight” rating and issued a $29.00 price target on shares of R1 RCM in a research report on Wednesday, June 29th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $29.00.

Shares of RCM stock traded up $1.01 during midday trading on Monday, reaching $21.97. 84,877 shares of the company were exchanged, compared to its average volume of 1,264,076. R1 RCM Inc. has a 12 month low of $18.71 and a 12 month high of $27.86. The company has a market cap of $6.15 billion, a P/E ratio of 70.87, a PEG ratio of 2.54 and a beta of 0.86. The company’s 50 day moving average price is $21.43 and its two-hundred day moving average price is $23.66. The company has a debt-to-equity ratio of 2.06, a quick ratio of 1.54 and a current ratio of 1.54.

R1 RCM (NASDAQ:RCMGet Rating) last announced its quarterly earnings data on Monday, May 9th. The healthcare provider reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). The business had revenue of $385.70 million during the quarter, compared to analyst estimates of $384.18 million. R1 RCM had a return on equity of 29.44% and a net margin of 6.64%. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($2.37) EPS. As a group, sell-side analysts predict that R1 RCM Inc. will post 0.48 earnings per share for the current year.

About R1 RCM (Get Rating)

R1 RCM Inc provides revenue cycle management (RCM) for healthcare providers in the United States. The company offers end-to-end RCM services to manage their revenue cycle operations that encompass patient registration, insurance and benefit verification, medical treatment documentation and coding, bill preparation, and collections from patients and payers.

Recommended Stories

Want to see what other hedge funds are holding RCM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for R1 RCM Inc. (NASDAQ:RCMGet Rating).

Institutional Ownership by Quarter for R1 RCM (NASDAQ:RCM)

Receive News & Ratings for R1 RCM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for R1 RCM and related companies with MarketBeat.com's FREE daily email newsletter.