Bank of New York Mellon Corp boosted its holdings in R1 RCM Inc (NASDAQ:RCM) by 13.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 317,302 shares of the financial services provider’s stock after buying an additional 36,847 shares during the period. Bank of New York Mellon Corp owned approximately 0.30% of R1 RCM worth $1,178,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. bought a new stake in R1 RCM in the second quarter valued at approximately $10,550,000. State Street Corp bought a new stake in shares of R1 RCM during the second quarter worth $5,327,000. Paradigm Capital Management Inc. NY increased its position in shares of R1 RCM by 14.8% during the third quarter. Paradigm Capital Management Inc. NY now owns 6,967,900 shares of the financial services provider’s stock worth $25,851,000 after acquiring an additional 900,753 shares in the last quarter. AJO LP bought a new stake in shares of R1 RCM during the second quarter worth $3,090,000. Finally, Northern Trust Corp increased its position in shares of R1 RCM by 46.4% during the second quarter. Northern Trust Corp now owns 1,145,411 shares of the financial services provider’s stock worth $4,295,000 after acquiring an additional 362,773 shares in the last quarter. Institutional investors and hedge funds own 47.44% of the company’s stock.
Several brokerages have recently issued reports on RCM. BidaskClub raised shares of R1 RCM from a “hold” rating to a “buy” rating in a research report on Friday, January 26th. Zacks Investment Research downgraded shares of R1 RCM from a “hold” rating to a “sell” rating in a research report on Wednesday, January 17th.
Shares of R1 RCM Inc (RCM) traded down $0.14 during mid-day trading on Friday, hitting $4.91. 257,955 shares of the stock traded hands, compared to its average volume of 177,792. The company has a market capitalization of $530.25, a P/E ratio of -18.88 and a beta of -0.41. R1 RCM Inc has a 52 week low of $2.02 and a 52 week high of $5.43.
R1 RCM (NASDAQ:RCM) last released its earnings results on Tuesday, October 31st. The financial services provider reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.05). The business had revenue of $123.20 million during the quarter, compared to the consensus estimate of $109.80 million. R1 RCM had a negative net margin of 1.32% and a negative return on equity of 9.33%. equities research analysts predict that R1 RCM Inc will post -0.12 EPS for the current year.
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About R1 RCM
R1 RCM Inc, formerly Accretive Health, Inc, is a provider of revenue cycle management (RCM) and physician advisory services (PAS) to healthcare providers. The Company is engaged in providing management services of revenue cycle operations for the United States-based hospitals and other medical services providers.
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