Eaton Vance Management lowered its stake in shares of R1 RCM Inc. (NASDAQ:RCM) by 40.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,702,841 shares of the healthcare provider’s stock after selling 1,145,924 shares during the period. Eaton Vance Management owned approximately 0.65% of R1 RCM worth $40,902,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of RCM. Norges Bank bought a new position in shares of R1 RCM in the 4th quarter worth approximately $1,599,000. UBS Asset Management Americas Inc. lifted its stake in shares of R1 RCM by 26.1% in the 4th quarter. UBS Asset Management Americas Inc. now owns 125,769 shares of the healthcare provider’s stock worth $3,021,000 after purchasing an additional 26,001 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of R1 RCM by 9.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 937,666 shares of the healthcare provider’s stock worth $22,523,000 after purchasing an additional 81,725 shares during the period. Hsbc Holdings PLC bought a new position in shares of R1 RCM in the 4th quarter worth approximately $497,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of R1 RCM by 127.9% in the 4th quarter. JPMorgan Chase & Co. now owns 90,808 shares of the healthcare provider’s stock worth $2,181,000 after purchasing an additional 50,963 shares during the period. Institutional investors and hedge funds own 81.16% of the company’s stock.
In other R1 RCM news, insider Gary Steven Long sold 5,837 shares of the stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $25.13, for a total transaction of $146,683.81. Following the completion of the sale, the insider now directly owns 214,436 shares of the company’s stock, valued at approximately $5,388,776.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO John M. Sparby sold 34,367 shares of the firm’s stock in a transaction on Monday, March 1st. The shares were sold at an average price of $28.31, for a total transaction of $972,929.77. Following the completion of the transaction, the chief operating officer now directly owns 202,843 shares of the company’s stock, valued at $5,742,485.33. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 135,092 shares of company stock valued at $3,687,732. Insiders own 59.40% of the company’s stock.
R1 RCM (NASDAQ:RCM) last announced its quarterly earnings data on Thursday, February 18th. The healthcare provider reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. R1 RCM had a net margin of 3.69% and a return on equity of 117.07%. The business had revenue of $328.40 million during the quarter, compared to analyst estimates of $316.65 million. Sell-side analysts forecast that R1 RCM Inc. will post 0.25 EPS for the current year.
RCM has been the topic of several recent research reports. Royal Bank of Canada increased their price objective on shares of R1 RCM from $20.00 to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 9th. Cowen raised their target price on shares of R1 RCM from $22.00 to $33.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 9th. KeyCorp raised their target price on shares of R1 RCM from $27.00 to $35.00 in a research note on Tuesday, February 16th. Finally, Zacks Investment Research cut shares of R1 RCM from a “hold” rating to a “sell” rating in a research note on Wednesday, March 17th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $25.67.
R1 RCM Profile
R1 RCM Inc provides revenue cycle management (RCM) for healthcare providers in the United States. The company offers end-to-end RCM services to manage their revenue cycle operations that encompass patient registration, insurance and benefit verification, medical treatment documentation and coding, bill preparation, and collections from patients and payers.
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