Federated Hermes Inc. Raises Position in R1 RCM Inc. (NASDAQ:RCM)

Federated Hermes Inc. boosted its position in R1 RCM Inc. (NASDAQ:RCM) by 5.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 150,556 shares of the healthcare provider’s stock after purchasing an additional 7,219 shares during the period. Federated Hermes Inc.’s holdings in R1 RCM were worth $1,591,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of RCM. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in R1 RCM by 33.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,684 shares of the healthcare provider’s stock valued at $388,000 after purchasing an additional 9,269 shares during the last quarter. Voss Capital LLC raised its position in shares of R1 RCM by 553.9% in the fourth quarter. Voss Capital LLC now owns 7,125,000 shares of the healthcare provider’s stock valued at $75,311,000 after purchasing an additional 6,035,340 shares during the period. Lecap Asset Management Ltd. purchased a new stake in shares of R1 RCM during the 4th quarter valued at approximately $424,000. Louisiana State Employees Retirement System bought a new position in R1 RCM in the 4th quarter worth approximately $585,000. Finally, WCM Investment Management LLC grew its stake in R1 RCM by 13.4% in the 4th quarter. WCM Investment Management LLC now owns 487,703 shares of the healthcare provider’s stock valued at $5,233,000 after buying an additional 57,760 shares in the last quarter. 61.10% of the stock is owned by institutional investors.

R1 RCM Stock Up 3.8 %

Shares of NASDAQ:RCM opened at $12.35 on Tuesday. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.57. R1 RCM Inc. has a 52-week low of $8.87 and a 52-week high of $18.70. The firm has a fifty day moving average of $12.86 and a 200 day moving average of $11.42.

Insiders Place Their Bets

In other news, President John M. Sparby sold 10,046 shares of the 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 transaction, the president now directly owns 265,986 shares in the company, valued at approximately $3,811,579.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 36.80% of the company’s stock.

Analyst Ratings Changes

RCM has been the topic of several recent research reports. Evercore ISI restated an “in-line” rating and set a $16.00 target price (up previously from $12.00) on shares of R1 RCM in a research report on Wednesday, February 28th. Truist Financial restated a “hold” rating and issued a $16.00 target price on shares of R1 RCM in a research note on Monday, April 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $19.00 target price on shares of R1 RCM in a report on Thursday, March 7th. KeyCorp reissued a “sector weight” rating on shares of R1 RCM in a report on Wednesday, April 10th. Finally, Guggenheim cut their price target on shares of R1 RCM from $17.00 to $15.00 and set a “buy” rating for the company in a report on Friday, April 5th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, R1 RCM presently has an average rating of “Moderate Buy” and a consensus price target of $16.87.

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.