Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Position in R1 RCM Inc. (NASDAQ:RCM)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of R1 RCM Inc. (NASDAQ:RCM) by 33.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,684 shares of the healthcare provider’s stock after buying an additional 9,269 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in R1 RCM were worth $388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in RCM. State of Alaska Department of Revenue lifted its holdings in R1 RCM by 37.8% during the third quarter. State of Alaska Department of Revenue now owns 23,564 shares of the healthcare provider’s stock valued at $355,000 after purchasing an additional 6,460 shares in the last quarter. Xponance Inc. increased its stake in R1 RCM by 28.0% during the 3rd quarter. Xponance Inc. now owns 21,997 shares of the healthcare provider’s stock worth $331,000 after buying an additional 4,814 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of R1 RCM by 3.4% during the third quarter. Bank of New York Mellon Corp now owns 7,017,700 shares of the healthcare provider’s stock valued at $105,757,000 after acquiring an additional 229,104 shares during the last quarter. New York State Teachers Retirement System lifted its position in shares of R1 RCM by 4.5% in the third quarter. New York State Teachers Retirement System now owns 136,621 shares of the healthcare provider’s stock valued at $2,059,000 after acquiring an additional 5,900 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of R1 RCM by 38.7% in the third quarter. Oregon Public Employees Retirement Fund now owns 55,239 shares of the healthcare provider’s stock worth $832,000 after acquiring an additional 15,400 shares during the last quarter. Institutional investors and hedge funds own 61.10% of the company’s stock.

R1 RCM Trading Up 0.2 %

NASDAQ:RCM opened at $12.47 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.83 and a current ratio of 1.83. R1 RCM Inc. has a 52 week low of $8.87 and a 52 week high of $18.70. The stock’s fifty day moving average is $12.95 and its two-hundred day moving average is $11.43.

Insider Activity at R1 RCM

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

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. 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 reissued a “hold” rating and issued a $16.00 price target on shares of R1 RCM in a research note on Monday, April 1st. Leerink Partnrs restated an “outperform” rating on shares of R1 RCM in a research report on Monday, February 26th. Citigroup upgraded shares of R1 RCM from a “neutral” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Wednesday, March 20th. Finally, SVB Leerink began coverage on R1 RCM in a report on Monday, February 26th. They set an “outperform” rating and a $14.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, R1 RCM has an average rating of “Moderate Buy” and an average target price 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.