abrdn plc Invests $3.77 Million in R1 RCM Inc. (NASDAQ:RCM)

abrdn plc purchased a new stake in R1 RCM Inc. (NASDAQ:RCM) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 356,851 shares of the healthcare provider’s stock, valued at approximately $3,772,000.

A number of other hedge funds have also bought and sold shares of RCM. Headlands Technologies LLC bought a new stake in R1 RCM in the 3rd quarter valued at about $36,000. ANTIPODES PARTNERS Ltd raised its holdings in R1 RCM by 429.5% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 5,623 shares of the healthcare provider’s stock valued at $59,000 after acquiring an additional 4,561 shares in the last quarter. Salem Investment Counselors Inc. bought a new stake in shares of R1 RCM during the 4th quarter valued at $61,000. Van ECK Associates Corp grew its holdings in shares of R1 RCM by 28.5% during the 3rd quarter. Van ECK Associates Corp now owns 5,097 shares of the healthcare provider’s stock worth $77,000 after purchasing an additional 1,130 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in shares of R1 RCM during the 3rd quarter worth $189,000. 61.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RCM has been the subject of several analyst reports. Evercore ISI restated an “in-line” rating and issued a $16.00 target price (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 reaffirmed an “equal weight” rating and issued a $14.00 target price on shares of R1 RCM in a report on Wednesday, February 28th. SVB Leerink initiated coverage on R1 RCM in a research note on Monday, February 26th. They issued an “outperform” rating and a $14.00 price target on the stock. Finally, KeyCorp restated a “sector weight” rating on shares of R1 RCM in a research report on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.87.

Insider Activity at R1 RCM

In other R1 RCM news, President John M. Sparby sold 10,046 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were 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 of the company’s stock, valued at approximately $3,811,579.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 36.80% of the stock is owned by company insiders.

R1 RCM Price Performance

Shares of RCM stock opened at $11.90 on Monday. 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 business’s 50-day moving average price is $12.83 and its 200-day moving average price is $11.42. R1 RCM Inc. has a 12 month low of $8.87 and a 12 month high of $18.70.

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.