NASDAQ:RCM - Free Report ) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 400,000 shares of the healthcare provider's stock, valued at approximately $4,228,000. R1 RCM makes up about 4.0% of ABS Direct Equity Fund LLC's holdings, making the stock its 6th largest holding. ABS Direct Equity Fund LLC owned about 0.10% of R1 RCM at the end of the most recent reporting period.
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Other hedge funds have also modified their holdings of the company. Neo Ivy Capital Management bought a new position in shares of R1 RCM in the 3rd quarter worth $269,000. abrdn plc acquired a new stake in shares of R1 RCM in the fourth quarter valued at about $3,772,000. Rhumbline Advisers increased its position in R1 RCM by 22.1% during the third quarter. Rhumbline Advisers now owns 544,321 shares of the healthcare provider's stock worth $8,203,000 after buying an additional 98,503 shares during the last quarter. Voss Capital LLC increased its position in R1 RCM by 553.9% during the fourth quarter. Voss Capital LLC now owns 7,125,000 shares of the healthcare provider's stock worth $75,311,000 after buying an additional 6,035,340 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in R1 RCM by 5.6% during the third quarter. Vanguard Group Inc. now owns 17,940,792 shares of the healthcare provider's stock worth $270,368,000 after buying an additional 947,310 shares during the last quarter. 61.10% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling In related news, President John M. Sparby sold 10,046 shares of R1 RCM 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 sale, the president now owns 265,986 shares in the company, valued at approximately $3,811,579.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link . 36.80% of the stock is owned by corporate insiders.
R1 RCM Stock Up 0.2 % R1 RCM stock traded up $0.02 during midday trading on Friday, reaching $12.47. 952,940 shares of the stock traded hands, compared to its average volume of 1,682,509. R1 RCM Inc. has a 12 month low of $8.87 and a 12 month high of $18.70. The stock's fifty day moving average is $12.98 and its 200-day moving average is $11.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.83 and a quick ratio of 1.83.
Analyst Upgrades and Downgrades Several brokerages recently issued reports on RCM. Truist Financial reiterated a "hold" rating and issued a $16.00 price target on shares of R1 RCM in a research note on Monday, April 1st. KeyCorp restated a "sector weight" rating on shares of R1 RCM in a report on Wednesday, April 10th. 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. SVB Leerink initiated coverage on shares of R1 RCM in a report on Monday, February 26th. They issued an "outperform" rating and a $14.00 price target for the company. Finally, Evercore ISI reiterated an "in-line" rating and issued a $16.00 price target (up previously from $12.00) 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 given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $16.87.
Check Out Our Latest Research Report on R1 RCM
R1 RCM Company Profile (
Free Report )
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.
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