Victory Capital Management Inc. Buys 7,342 Shares of R1 RCM Inc. (NASDAQ:RCM)

Victory Capital Management Inc. increased its stake in shares of R1 RCM Inc. (NASDAQ:RCM) by 23.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,617 shares of the healthcare provider’s stock after purchasing an additional 7,342 shares during the period. Victory Capital Management Inc.’s holdings in R1 RCM were worth $408,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Van ECK Associates Corp grew its stake in shares of R1 RCM by 20.5% during the 4th quarter. Van ECK Associates Corp now owns 6,141 shares of the healthcare provider’s stock worth $65,000 after acquiring an additional 1,044 shares in the last quarter. Intact Investment Management Inc. boosted its stake in shares of R1 RCM by 236.0% in the fourth quarter. Intact Investment Management Inc. now owns 45,700 shares of the healthcare provider’s stock valued at $483,000 after buying an additional 32,100 shares during the period. State of New Jersey Common Pension Fund D lifted its position in shares of R1 RCM by 59.7% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 235,419 shares of the healthcare provider’s stock valued at $2,488,000 after acquiring an additional 87,984 shares during the period. Illinois Municipal Retirement Fund bought a new position in shares of R1 RCM in the fourth quarter worth $469,000. Finally, Duality Advisers LP acquired a new position in R1 RCM in the fourth quarter valued at about $486,000. Institutional investors own 61.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RCM. Canaccord Genuity Group lowered their price objective on shares of R1 RCM from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Barclays reissued an “equal weight” rating and issued a $14.00 price objective on shares of R1 RCM in a research note on Wednesday, February 28th. Truist Financial restated a “hold” rating and issued a $16.00 target price on shares of R1 RCM in a report on Monday, April 1st. Evercore ISI reaffirmed an “in-line” rating and issued a $16.00 target price (up from $12.00) on shares of R1 RCM in a report on Wednesday, February 28th. Finally, Guggenheim lowered their price objective on R1 RCM from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $16.31.

Insider Buying and Selling

In other R1 RCM news, President John M. Sparby sold 10,046 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $14.33, for a total value of $143,959.18. Following the completion of the sale, the president now owns 265,986 shares of the company’s stock, valued at $3,811,579.38. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 36.80% of the company’s stock.

R1 RCM Stock Up 2.8 %

Shares of NASDAQ RCM opened at $12.48 on Friday. The stock has a market cap of $5.26 billion, a PE ratio of -156.00 and a beta of 0.78. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.78. R1 RCM Inc. has a 12-month low of $8.87 and a 12-month high of $18.70. The company has a 50-day moving average of $12.48 and a 200 day moving average of $11.53.

R1 RCM (NASDAQ:RCM) last announced its quarterly earnings results on Wednesday, May 8th. The healthcare provider reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). The business had revenue of $603.90 million for the quarter, compared to analysts’ expectations of $612.88 million. R1 RCM had a negative return on equity of 1.16% and a negative net margin of 1.39%. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, sell-side analysts predict that R1 RCM Inc. will post -0.09 EPS for the current fiscal year.

R1 RCM Company Profile

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.