Swiss National Bank Purchases 20,000 Shares of R1 RCM Inc. (NASDAQ:RCM)

Swiss National Bank lifted its position in R1 RCM Inc. (NASDAQ:RCM – Get Rating) by 6.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 351,600 shares of the healthcare provider’s stock after purchasing an additional 20,000 shares during the period. Swiss National Bank’s holdings in R1 RCM were worth $3,850,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Boston Partners boosted its holdings in R1 RCM by 204.0% in the fourth quarter. Boston Partners now owns 2,402,194 shares of the healthcare provider’s stock valued at $27,508,000 after acquiring an additional 1,611,891 shares in the last quarter. Arizona State Retirement System raised its position in shares of R1 RCM by 8.1% in the 4th quarter. Arizona State Retirement System now owns 41,092 shares of the healthcare provider’s stock worth $450,000 after purchasing an additional 3,087 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of R1 RCM by 18.1% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 30,495 shares of the healthcare provider’s stock worth $334,000 after purchasing an additional 4,680 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of R1 RCM in the 4th quarter worth about $368,000. Finally, Commonwealth Equity Services LLC purchased a new position in shares of R1 RCM in the 4th quarter worth about $263,000. Institutional investors own 97.09% of the company’s stock.

R1 RCM Price Performance

Shares of RCM opened at $16.86 on Friday. R1 RCM Inc. has a 1 year low of $6.71 and a 1 year high of $27.07. The company has a 50 day simple moving average of $15.14 and a two-hundred day simple moving average of $13.01. The firm has a market cap of $7.05 billion, a P/E ratio of -73.30, a price-to-earnings-growth ratio of 12.18 and a beta of 0.84.

R1 RCM (NASDAQ:RCM – Get Rating) last issued its quarterly earnings results on Thursday, February 16th. The healthcare provider reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.06). The company had revenue of $532.80 million during the quarter, compared to the consensus estimate of $519.28 million. R1 RCM had a negative return on equity of 1.02% and a negative net margin of 4.41%. The firm’s quarterly revenue was up 33.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.11 earnings per share. On average, sell-side analysts anticipate that R1 RCM Inc. will post 0.08 earnings per share for the current year.

Insider Transactions at R1 RCM

In other news, President John M. Sparby sold 20,000 shares of R1 RCM stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $16.36, for a total transaction of $327,200.00. Following the completion of the sale, the president now directly owns 243,827 shares in the company, valued at $3,989,009.72. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Lee Rivas purchased 71,767 shares of the business’s stock in a transaction dated Tuesday, February 21st. The shares were purchased at an average price of $13.93 per share, for a total transaction of $999,714.31. Following the completion of the purchase, the chief executive officer now owns 71,767 shares in the company, valued at approximately $999,714.31. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, President John M. Sparby sold 20,000 shares of R1 RCM stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $16.36, for a total value of $327,200.00. Following the completion of the transaction, the president now owns 243,827 shares in the company, valued at approximately $3,989,009.72. The disclosure for this sale can be found here. Corporate insiders own 37.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RCM. Deutsche Bank Aktiengesellschaft lifted their price target on R1 RCM from $16.00 to $18.00 in a research report on Monday, May 8th. KeyCorp lifted their price target on R1 RCM from $15.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, February 2nd. TheStreet raised R1 RCM from a “d+” rating to a “c” rating in a research report on Friday, May 5th. Stephens began coverage on R1 RCM in a research report on Tuesday, April 11th. They issued an “overweight” rating and a $18.00 price target for the company. Finally, Truist Financial lowered R1 RCM from a “buy” rating to a “hold” rating and set a $15.00 target price for the company. in a research report on Thursday, February 2nd. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.44.

About R1 RCM

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R1 RCM, Inc engages in the provision of revenue cycle management to healthcare providers. It offers end-to-end, modular revenue cycle, and physician advisory services. The company was founded by Mary Ann Tolan and J. Michael Cline in July 2003 and is headquartered in Murray, UT.