State of New Jersey Common Pension Fund D Purchases 87,984 Shares of R1 RCM Inc. (NASDAQ:RCM)

State of New Jersey Common Pension Fund D raised its holdings in R1 RCM Inc. (NASDAQ:RCM - Free Report) by 59.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 0.06% of R1 RCM worth $2,488,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Voss Capital LLC boosted its stake in shares of R1 RCM by 553.9% during the 4th quarter. Voss Capital LLC now owns 7,125,000 shares of the healthcare provider's stock worth $75,311,000 after acquiring an additional 6,035,340 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of R1 RCM by 5.6% during the 3rd quarter. Vanguard Group Inc. now owns 17,940,792 shares of the healthcare provider's stock worth $270,368,000 after acquiring an additional 947,310 shares in the last quarter. Fort Washington Investment Advisors Inc. OH purchased a new stake in shares of R1 RCM during the 3rd quarter worth approximately $8,112,000. Kingdon Capital Management L.L.C. boosted its stake in shares of R1 RCM by 94.5% during the 3rd quarter. Kingdon Capital Management L.L.C. now owns 760,819 shares of the healthcare provider's stock worth $11,466,000 after acquiring an additional 369,751 shares in the last quarter. Finally, abrdn plc acquired a new position in shares of R1 RCM during the 4th quarter worth approximately $3,772,000. Hedge funds and other institutional investors own 61.10% of the company's stock.

Analysts Set New Price Targets

RCM has been the subject of several analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and issued a $20.00 price target on shares of R1 RCM in a report on Wednesday, April 10th. Citigroup upgraded R1 RCM from a "neutral" rating to a "buy" rating and set a $16.00 price target for the company in a report on Wednesday, March 20th. KeyCorp reiterated a "sector weight" rating on shares of R1 RCM in a report on Wednesday, April 10th. Royal Bank of Canada reiterated an "outperform" rating and issued a $19.00 price target on shares of R1 RCM in a report on Thursday, March 7th. Finally, Leerink Partnrs reiterated an "outperform" rating on shares of R1 RCM in a report on Monday, February 26th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $16.87.

R1 RCM Stock Up 0.7 %

R1 RCM stock traded up $0.09 during trading on Thursday, reaching $12.45. 961,568 shares of the company's stock were exchanged, compared to its average volume of 3,520,569. The company's 50-day moving average is $12.92 and its two-hundred day moving average is $11.42. The company has a quick ratio of 1.83, a current 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.

Insider Buying and Selling

In related news, President John M. Sparby sold 10,046 shares of the company's stock in a transaction on 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 sale, the president now directly owns 265,986 shares of the company's stock, valued at approximately $3,811,579.38. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 36.80% of the stock is owned by corporate insiders.

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.