Vanguard Group Inc. Buys 947,310 Shares of R1 RCM Inc. (NASDAQ:RCM)

Vanguard Group Inc. raised its position in R1 RCM Inc. (NASDAQ:RCM - Free Report) by 5.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,940,792 shares of the healthcare provider's stock after purchasing an additional 947,310 shares during the quarter. Vanguard Group Inc. owned 4.28% of R1 RCM worth $270,368,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Captrust Financial Advisors grew its stake in shares of R1 RCM by 81.7% in the second quarter. Captrust Financial Advisors now owns 1,664 shares of the healthcare provider's stock worth $35,000 after acquiring an additional 748 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of R1 RCM in the third quarter worth $36,000. Point72 Middle East FZE acquired a new position in shares of R1 RCM in the fourth quarter worth $29,000. State of Wyoming grew its stake in shares of R1 RCM by 29.6% in the second quarter. State of Wyoming now owns 3,333 shares of the healthcare provider's stock worth $61,000 after acquiring an additional 762 shares in the last quarter. Finally, Macquarie Group Ltd. grew its stake in shares of R1 RCM by 11.0% in the second quarter. Macquarie Group Ltd. now owns 4,159 shares of the healthcare provider's stock worth $88,000 after acquiring an additional 411 shares in the last quarter. Hedge funds and other institutional investors own 61.10% of the company's stock.

Insiders Place Their Bets

In other news, President John M. Sparby sold 10,046 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $14.33, for a total value of $143,959.18. Following the sale, the president now directly owns 265,986 shares in the company, valued at $3,811,579.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 37.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

RCM has been the subject of a number of analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and set a $20.00 target price on shares of R1 RCM in a research note on Tuesday, March 5th. Royal Bank of Canada reiterated an "outperform" rating and set a $19.00 target price on shares of R1 RCM in a research note on Thursday, March 7th. JPMorgan Chase & Co. downgraded shares of R1 RCM from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $20.00 to $11.00 in a research note on Wednesday, December 13th. Evercore ISI reiterated an "in-line" rating and set a $16.00 target price (up previously from $12.00) on shares of R1 RCM in a research note on Wednesday, February 28th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $17.00 target price on shares of R1 RCM in a research note on Tuesday. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, R1 RCM currently has a consensus rating of "Moderate Buy" and an average price target of $17.35.

R1 RCM Stock Down 0.9 %

RCM traded down $0.12 on Friday, hitting $12.88. 3,780,113 shares of the company were exchanged, compared to its average volume of 3,389,871. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.57. The business's fifty day moving average is $12.12 and its 200 day moving average is $11.86. R1 RCM Inc. has a fifty-two week low of $8.87 and a fifty-two week 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.