Swiss National Bank Has $4.72 Million Position in R1 RCM Inc. (NASDAQ:RCM)

Swiss National Bank reduced its position in shares of R1 RCM Inc. (NASDAQ:RCM) by 10.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 314,600 shares of the healthcare provider’s stock after selling 37,000 shares during the period. Swiss National Bank owned approximately 0.08% of R1 RCM worth $4,719,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in RCM. Point72 Middle East FZE acquired a new position in R1 RCM in the 4th quarter valued at $29,000. Captrust Financial Advisors raised its position in shares of R1 RCM by 81.7% in the 2nd quarter. Captrust Financial Advisors now owns 1,664 shares of the healthcare provider’s stock valued at $35,000 after buying an additional 748 shares in the last quarter. Parkside Financial Bank & Trust raised its position in shares of R1 RCM by 67.2% in the 1st quarter. Parkside Financial Bank & Trust now owns 2,972 shares of the healthcare provider’s stock valued at $45,000 after buying an additional 1,195 shares in the last quarter. Macquarie Group Ltd. raised its position in shares of R1 RCM by 11.0% in the 2nd quarter. Macquarie Group Ltd. now owns 4,159 shares of the healthcare provider’s stock valued at $88,000 after buying an additional 411 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of R1 RCM by 53.4% in the 1st quarter. Tower Research Capital LLC TRC now owns 7,120 shares of the healthcare provider’s stock valued at $107,000 after buying an additional 2,479 shares in the last quarter. 61.10% of the stock is owned by institutional investors and hedge funds.

R1 RCM Stock Performance

RCM opened at $17.24 on Friday. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.62. The company’s fifty day moving average price is $17.28 and its two-hundred day moving average price is $15.99. R1 RCM Inc. has a 1-year low of $6.71 and a 1-year high of $22.74. The company has a market cap of $7.22 billion, a price-to-earnings ratio of -107.75 and a beta of 0.86.

Insiders Place Their Bets

In other news, insider Richard B. Jr. Evans sold 17,000 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $16.84, for a total value of $286,280.00. Following the completion of the sale, the insider now directly owns 124,007 shares of the company’s stock, valued at $2,088,277.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Richard B. Jr. Evans sold 17,000 shares of the stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $16.84, for a total value of $286,280.00. Following the completion of the sale, the insider now owns 124,007 shares in the company, valued at $2,088,277.88. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John B. Henneman III sold 50,000 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $17.17, for a total transaction of $858,500.00. Following the completion of the sale, the director now owns 72,114 shares of the company’s stock, valued at approximately $1,238,197.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,000 shares of company stock worth $1,345,060. Insiders own 37.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RCM. Royal Bank of Canada boosted their price target on R1 RCM from $18.00 to $22.00 in a report on Thursday, June 15th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of R1 RCM from $16.00 to $18.00 in a research report on Monday, May 8th. Jefferies Financial Group upped their target price on R1 RCM from $20.00 to $22.00 in a report on Friday, June 16th. Morgan Stanley upped their price target on shares of R1 RCM from $16.00 to $19.00 and gave the company an “equal weight” rating in a research report on Thursday, August 3rd. Finally, TheStreet upgraded shares of R1 RCM from a “d+” rating to a “c” rating in a research report on Friday, May 5th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.06.

About R1 RCM

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