R1 RCM Inc. (NASDAQ:RCM) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its holdings in R1 RCM Inc. (NASDAQ:RCM) by 59.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 235,419 shares of the healthcare provider’s stock after purchasing an additional 87,984 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.06% of R1 RCM worth $2,488,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its position 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 during the period. Victory Capital Management Inc. lifted its stake in R1 RCM by 4.2% in the third quarter. Victory Capital Management Inc. now owns 31,275 shares of the healthcare provider’s stock valued at $471,000 after buying an additional 1,250 shares during the last quarter. Pathstone Family Office LLC boosted its holdings in shares of R1 RCM by 6.1% during the third quarter. Pathstone Family Office LLC now owns 32,638 shares of the healthcare provider’s stock valued at $492,000 after acquiring an additional 1,867 shares during the period. Headlands Technologies LLC bought a new position in shares of R1 RCM during the third quarter worth about $36,000. Finally, Mariner LLC increased its holdings in shares of R1 RCM by 10.6% in the 3rd quarter. Mariner LLC now owns 29,508 shares of the healthcare provider’s stock worth $445,000 after acquiring an additional 2,836 shares during the period. Institutional investors own 61.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on RCM shares. SVB Leerink initiated coverage on shares of R1 RCM in a research report on Monday, February 26th. They issued an “outperform” rating and a $14.00 target price for the company. Canaccord Genuity Group cut their target price on R1 RCM from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, March 20th. Cantor Fitzgerald reissued an “overweight” rating and issued a $20.00 price target on shares of R1 RCM in a research note on Wednesday, April 10th. Guggenheim lowered their price target on R1 RCM from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Finally, Barclays reaffirmed an “equal weight” rating and issued a $14.00 price objective on shares of R1 RCM in a report on Wednesday, February 28th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, R1 RCM has a consensus rating of “Moderate Buy” and a consensus price target of $16.87.

Insider Buying and Selling

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

R1 RCM Trading Up 0.6 %

Shares of RCM opened at $12.36 on Thursday. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.57. The firm’s 50 day moving average is $12.89 and its 200-day moving average is $11.41. R1 RCM Inc. has a 12-month low of $8.87 and a 12-month high of $18.70.

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.