Cipher Capital LP Has $541,000 Position in R1 RCM Inc (RCM)

Cipher Capital LP increased its holdings in R1 RCM Inc (NASDAQ:RCM) by 114.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 68,138 shares of the financial services provider’s stock after purchasing an additional 36,411 shares during the quarter. Cipher Capital LP’s holdings in R1 RCM were worth $541,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Metropolitan Life Insurance Co. NY grew its position in R1 RCM by 356.2% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 34,619 shares of the financial services provider’s stock worth $275,000 after acquiring an additional 27,031 shares during the period. Squarepoint Ops LLC lifted its stake in R1 RCM by 389.5% during the fourth quarter. Squarepoint Ops LLC now owns 112,104 shares of the financial services provider’s stock worth $891,000 after purchasing an additional 89,204 shares in the last quarter. Bank of America Corp DE lifted its stake in R1 RCM by 71.6% during the fourth quarter. Bank of America Corp DE now owns 323,451 shares of the financial services provider’s stock worth $2,571,000 after purchasing an additional 134,974 shares in the last quarter. Principal Financial Group Inc. lifted its stake in R1 RCM by 138.7% during the fourth quarter. Principal Financial Group Inc. now owns 49,161 shares of the financial services provider’s stock worth $391,000 after purchasing an additional 28,563 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in R1 RCM by 10.0% during the fourth quarter. Geode Capital Management LLC now owns 1,169,331 shares of the financial services provider’s stock worth $9,296,000 after purchasing an additional 106,455 shares in the last quarter. Institutional investors own 65.58% of the company’s stock.

A number of research firms have commented on RCM. BidaskClub cut R1 RCM from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. KeyCorp began coverage on R1 RCM in a research note on Tuesday, January 22nd. They set an “overweight” rating and a $10.00 price target on the stock. Citigroup began coverage on R1 RCM in a research note on Monday, December 10th. They set a “buy” rating and a $20.00 price target on the stock. Finally, Zacks Investment Research upgraded R1 RCM from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Saturday, March 2nd. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $13.00.

NASDAQ:RCM opened at $9.92 on Tuesday. The company has a debt-to-equity ratio of 56.51, a quick ratio of 1.00 and a current ratio of 1.00. R1 RCM Inc has a 52 week low of $6.95 and a 52 week high of $11.00. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -31.00 and a beta of 0.11.

R1 RCM (NASDAQ:RCM) last released its quarterly earnings results on Friday, February 22nd. The financial services provider reported ($0.02) EPS for the quarter, hitting analysts’ consensus estimates of ($0.02). The company had revenue of $262.90 million for the quarter, compared to analysts’ expectations of $264.48 million. R1 RCM had a negative return on equity of 145.94% and a negative net margin of 5.22%. The firm’s revenue for the quarter was up 87.4% compared to the same quarter last year. As a group, analysts anticipate that R1 RCM Inc will post 0.13 EPS for the current fiscal year.

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R1 RCM Company Profile

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

Further Reading: Are all No-Load Funds Equal?

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

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