State of Alaska Department of Revenue Sells 2,300 Shares of R1 RCM Inc. (NASDAQ:RCM)

State of Alaska Department of Revenue lessened its stake in R1 RCM Inc. (NASDAQ:RCM) by 9.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,264 shares of the healthcare provider’s stock after selling 2,300 shares during the quarter. State of Alaska Department of Revenue’s holdings in R1 RCM were worth $224,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of RCM. Macquarie Group Ltd. raised its holdings in R1 RCM by 11.0% during the 2nd quarter. Macquarie Group Ltd. now owns 4,159 shares of the healthcare provider’s stock valued at $88,000 after acquiring an additional 411 shares during the period. EFG Asset Management Americas Corp. raised its holdings in R1 RCM by 4.3% during the 2nd quarter. EFG Asset Management Americas Corp. now owns 18,095 shares of the healthcare provider’s stock valued at $334,000 after acquiring an additional 740 shares during the period. Captrust Financial Advisors raised its holdings in R1 RCM by 81.7% during the 2nd quarter. Captrust Financial Advisors now owns 1,664 shares of the healthcare provider’s stock valued at $35,000 after acquiring an additional 748 shares during the period. State of Wyoming raised its holdings in R1 RCM by 29.6% during the 2nd quarter. State of Wyoming now owns 3,333 shares of the healthcare provider’s stock valued at $61,000 after acquiring an additional 762 shares during the period. Finally, Federated Hermes Inc. grew its position in shares of R1 RCM by 3.6% during the 1st quarter. Federated Hermes Inc. now owns 25,578 shares of the healthcare provider’s stock valued at $684,000 after purchasing an additional 893 shares in the last quarter. Institutional investors own 61.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RCM shares. Evercore ISI restated an “in-line” rating and set a $16.00 price target (up from $12.00) on shares of R1 RCM in a research report on Wednesday, February 28th. Leerink Partnrs restated an “outperform” rating on shares of R1 RCM in a research report on Monday, February 26th. Barclays restated an “equal weight” rating and set a $14.00 price target on shares of R1 RCM in a research report on Wednesday, February 28th. Truist Financial restated a “hold” rating and set a $16.00 price target on shares of R1 RCM in a research report on Monday, April 1st. Finally, Morgan Stanley restated an “overweight” rating and set a $17.00 price target on shares of R1 RCM in a research report on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.87.

R1 RCM Price Performance

R1 RCM stock opened at $12.47 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.83 and a quick ratio of 1.83. The firm has a fifty day simple moving average of $12.56 and a two-hundred day simple moving average of $11.61. R1 RCM Inc. has a twelve month low of $8.87 and a twelve month high of $18.70.

Insiders Place Their Bets

In other R1 RCM news, President John M. Sparby sold 10,046 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were 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 directly owns 265,986 shares of the company’s stock, valued at $3,811,579.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 37.00% of the stock is currently owned by insiders.

R1 RCM 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.