Mirae Asset Global Investments Co. Ltd. Cuts Stake in R1 RCM Inc. (NASDAQ:RCM)

Mirae Asset Global Investments Co. Ltd. lowered its position in shares of R1 RCM Inc. (NASDAQ:RCMGet Rating) by 13.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 446,935 shares of the healthcare provider’s stock after selling 67,563 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.16% of R1 RCM worth $11,960,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Prospera Financial Services Inc increased its holdings in shares of R1 RCM by 2.1% in the 1st quarter. Prospera Financial Services Inc now owns 27,760 shares of the healthcare provider’s stock valued at $743,000 after purchasing an additional 571 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of R1 RCM by 2.0% in the 1st quarter. Los Angeles Capital Management LLC now owns 37,221 shares of the healthcare provider’s stock valued at $996,000 after purchasing an additional 712 shares in the last quarter. Retirement Systems of Alabama grew its stake in R1 RCM by 0.4% in the 1st quarter. Retirement Systems of Alabama now owns 175,230 shares of the healthcare provider’s stock valued at $4,689,000 after acquiring an additional 742 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in R1 RCM by 2.3% in the 1st quarter. Louisiana State Employees Retirement System now owns 35,000 shares of the healthcare provider’s stock valued at $956,000 after acquiring an additional 800 shares during the last quarter. Finally, M&T Bank Corp grew its stake in R1 RCM by 1.6% in the 1st quarter. M&T Bank Corp now owns 53,844 shares of the healthcare provider’s stock valued at $1,441,000 after acquiring an additional 865 shares during the last quarter. Hedge funds and other institutional investors own 49.86% of the company’s stock.

Insider Transactions at R1 RCM

In other news, CEO Joseph Gerard Flanagan sold 200,000 shares of the stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $24.98, for a total transaction of $4,996,000.00. Following the transaction, the chief executive officer now directly owns 2,792,221 shares in the company, valued at approximately $69,749,680.58. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Joseph Gerard Flanagan sold 200,000 shares of the stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $24.98, for a total transaction of $4,996,000.00. Following the transaction, the chief executive officer now directly owns 2,792,221 shares in the company, valued at approximately $69,749,680.58. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John M. Sparby sold 4,365 shares of the stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $26.03, for a total transaction of $113,620.95. Following the transaction, the insider now owns 163,772 shares in the company, valued at $4,262,985.16. The disclosure for this sale can be found here. Insiders have sold a total of 15,449,056 shares of company stock worth $317,717,189 in the last three months. Company insiders own 63.50% of the company’s stock.

R1 RCM Price Performance

R1 RCM stock opened at $20.18 on Tuesday. The stock has a market capitalization of $8.40 billion, a P/E ratio of 112.12, a P/E/G ratio of 4.68 and a beta of 0.95. R1 RCM Inc. has a 12-month low of $18.73 and a 12-month high of $27.86. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.57 and a quick ratio of 1.54. The firm’s 50-day moving average is $23.47 and its two-hundred day moving average is $23.35.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RCM. JPMorgan Chase & Co. began coverage on shares of R1 RCM in a research note on Monday, August 1st. They issued an “overweight” rating on the stock. Barclays reissued an “overweight” rating and issued a $29.00 price objective on shares of R1 RCM in a research note on Wednesday, June 29th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of R1 RCM from $26.00 to $31.00 in a research note on Thursday, August 4th. KeyCorp began coverage on shares of R1 RCM in a research note on Thursday, September 15th. They issued an “overweight” rating and a $30.00 price objective on the stock. Finally, Truist Financial began coverage on shares of R1 RCM in a research note on Wednesday, September 7th. They set a “buy” rating and a $29.00 price target on the stock. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

About R1 RCM

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R1 RCM Inc provides technology-driven solutions that transform the patient experience and financial performance of hospitals, health systems, and medical groups. It offers end-to-end revenue cycle management (RCM) services, which address the spectrum of revenue cycle challenges faced by healthcare providers.

Further Reading

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

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