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

State of New Jersey Common Pension Fund D lessened its stake in R1 RCM Inc. (NASDAQ:RCM) by 2.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 141,280 shares of the healthcare provider’s stock after selling 3,118 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in R1 RCM were worth $2,002,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in R1 RCM by 41.3% in the third quarter. GAMMA Investing LLC now owns 2,597 shares of the healthcare provider’s stock valued at $37,000 after acquiring an additional 759 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of R1 RCM by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 47,063 shares of the healthcare provider’s stock worth $591,000 after purchasing an additional 969 shares during the period. QRG Capital Management Inc. lifted its stake in shares of R1 RCM by 10.6% in the 2nd quarter. QRG Capital Management Inc. now owns 11,307 shares of the healthcare provider’s stock valued at $142,000 after purchasing an additional 1,080 shares in the last quarter. Advisors Asset Management Inc. purchased a new stake in shares of R1 RCM during the 1st quarter worth about $27,000. Finally, Victory Capital Management Inc. increased its position in R1 RCM by 7.7% during the 2nd quarter. Victory Capital Management Inc. now owns 36,006 shares of the healthcare provider’s stock worth $452,000 after purchasing an additional 2,574 shares in the last quarter. 61.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on RCM shares. TD Cowen reaffirmed a “hold” rating and set a $14.30 price target (down from $20.00) on shares of R1 RCM in a research report on Monday, August 5th. Leerink Partnrs cut shares of R1 RCM from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Leerink Partners lowered R1 RCM from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $17.00 to $14.30 in a research report on Thursday, August 1st. Stephens downgraded R1 RCM from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 1st. Finally, Morgan Stanley downgraded R1 RCM from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 8th. Thirteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $15.41.

R1 RCM Price Performance

Shares of R1 RCM stock opened at $14.30 on Friday. The business has a 50-day moving average price of $14.21 and a 200 day moving average price of $13.40. R1 RCM Inc. has a fifty-two week low of $8.87 and a fifty-two week high of $15.12. The firm has a market cap of $6.04 billion, a P/E ratio of -95.33 and a beta of 0.84. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.76.

R1 RCM (NASDAQ:RCM) last issued its quarterly earnings results on Tuesday, November 5th. The healthcare provider reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). R1 RCM had a negative net margin of 2.48% and a negative return on equity of 2.18%. The firm had revenue of $656.80 million during the quarter, compared to the consensus estimate of $640.93 million. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, sell-side analysts forecast that R1 RCM Inc. will post -0.38 earnings per share for the current fiscal year.

About R1 RCM

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.