Vanguard Group Inc. Raises Position in R1 RCM Inc. (NASDAQ:RCM)

Vanguard Group Inc. grew its holdings in shares of R1 RCM Inc. (NASDAQ:RCM) by 5.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,940,792 shares of the healthcare provider’s stock after purchasing an additional 947,310 shares during the period. Vanguard Group Inc. owned approximately 4.28% of R1 RCM worth $270,368,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of R1 RCM by 99.4% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 45,567 shares of the healthcare provider’s stock valued at $686,000 after purchasing an additional 22,710 shares during the last quarter. Neo Ivy Capital Management purchased a new position in R1 RCM in the 3rd quarter worth $269,000. Polar Capital Holdings Plc raised its stake in R1 RCM by 0.5% in the 3rd quarter. Polar Capital Holdings Plc now owns 4,696,412 shares of the healthcare provider’s stock worth $70,775,000 after acquiring an additional 22,550 shares during the last quarter. Comerica Bank purchased a new position in R1 RCM in the 3rd quarter worth $1,202,000. Finally, Revisor Wealth Management LLC purchased a new position in R1 RCM in the 3rd quarter worth $247,000. Hedge funds and other institutional investors own 61.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on RCM shares. SVB Leerink started coverage on R1 RCM in a research note on Monday, February 26th. They issued an “outperform” rating and a $14.00 target price for the company. Leerink Partnrs restated an “outperform” rating on shares of R1 RCM in a research note on Monday, February 26th. Canaccord Genuity Group reduced their target price on R1 RCM from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Wednesday, March 20th. JPMorgan Chase & Co. downgraded R1 RCM from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $20.00 to $11.00 in a research report on Wednesday, December 13th. Finally, Truist Financial reaffirmed a “hold” rating and set a $16.00 price target on shares of R1 RCM in a research report on Tuesday, March 5th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.35.

Insider Activity

In other news, President John M. Sparby sold 10,046 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $14.33, for a total transaction of $143,959.18. Following the sale, the president now directly owns 265,986 shares in the company, valued at approximately $3,811,579.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 37.00% of the company’s stock.

R1 RCM Stock Down 0.9 %

NASDAQ:RCM opened at $12.88 on Friday. R1 RCM Inc. has a 52 week low of $8.87 and a 52 week high of $18.70. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.83 and a current ratio of 1.83. The stock’s 50-day moving average price is $12.06 and its 200-day moving average price is $11.89.

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.