5 Tech Stocks Hedge Funds are Buying Despite Rising Interest Rates

4. R1 RCM Inc. (NASDAQ:RCM)

Number of Hedge Fund Holders in Q2 2022: 30 

Number of Hedge Fund Holders in Q1 2022: 0      

R1 RCM Inc. (NASDAQ:RCM) provides tech-driven healthcare solutions. On August 3, the firm posted earnings for the second quarter of 2022, reporting losses per share of $0.07, missing market estimates by $0.11. The revenue over the period was $391 million, up 10% compared to the revenue over the same period last year and roughly in line with analyst estimates. The firm said it was expecting 2022 revenue previously to be around $1,660 million – $1,700 million, but raised the guidance to $1,850 million – $1,870 million, versus consensus estimates of $1.870 million. 

On August 4, Deutsche Bank analyst George Hill maintained a Buy rating on R1 RCM Inc. (NASDAQ:RCM) stock and raised the price target to $31 from $26, appreciating the second quarter earnings of the firm. 

At the end of the second quarter of 2022, 30 hedge funds in the database of Insider Monkey held stakes worth $262 million in R1 RCM Inc. (NASDAQ:RCM).