Bardin Hill Management Partners LP Has $6.60 Million Holdings in R1 RCM Inc. (NASDAQ:RCM)

Bardin Hill Management Partners LP boosted its position in R1 RCM Inc. (NASDAQ:RCM) by 98.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 525,211 shares of the healthcare provider’s stock after purchasing an additional 260,891 shares during the quarter. R1 RCM comprises 2.7% of Bardin Hill Management Partners LP’s investment portfolio, making the stock its 8th biggest position. Bardin Hill Management Partners LP owned about 0.12% of R1 RCM worth $6,597,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. bought a new stake in R1 RCM during the first quarter valued at $27,000. ANTIPODES PARTNERS Ltd purchased a new position in shares of R1 RCM during the second quarter worth about $86,000. QRG Capital Management Inc. bought a new position in shares of R1 RCM in the first quarter worth approximately $132,000. CIBC Asset Management Inc bought a new position in shares of R1 RCM in the second quarter worth approximately $149,000. Finally, Covestor Ltd raised its stake in R1 RCM by 340.9% in the first quarter. Covestor Ltd now owns 13,438 shares of the healthcare provider’s stock valued at $172,000 after purchasing an additional 10,390 shares in the last quarter. 61.10% of the stock is owned by institutional investors.

R1 RCM Stock Performance

Shares of R1 RCM stock opened at $14.18 on Wednesday. R1 RCM Inc. has a 12 month low of $8.87 and a 12 month high of $15.26. The firm has a market capitalization of $5.97 billion, a P/E ratio of -177.25 and a beta of 0.84. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.77. The business has a fifty day simple moving average of $13.94 and a two-hundred day simple moving average of $13.01.

R1 RCM (NASDAQ:RCM) last announced its earnings results on Wednesday, August 7th. The healthcare provider reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. R1 RCM had a negative net margin of 1.68% and a negative return on equity of 1.44%. The business had revenue of $627.90 million during the quarter, compared to the consensus estimate of $633.10 million. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, equities analysts forecast that R1 RCM Inc. will post -0.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RCM has been the subject of several research reports. TD Cowen reiterated a “hold” rating and issued a $14.30 target price (down from $20.00) on shares of R1 RCM in a research report on Monday, August 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $19.00 price objective on shares of R1 RCM in a report on Friday, June 28th. Cantor Fitzgerald reissued a “neutral” rating and set a $14.30 price objective on shares of R1 RCM in a report on Tuesday, August 20th. Robert W. Baird restated an “outperform” rating and issued a $18.00 target price on shares of R1 RCM in a research report on Tuesday, July 2nd. Finally, Leerink Partners downgraded shares of R1 RCM from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $17.00 to $14.30 in a research note on Thursday, August 1st. Thirteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, R1 RCM has an average rating of “Hold” and a consensus target price of $15.41.

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.