New York State Teachers Retirement System Buys 3,300 Shares of R1 RCM Inc. (NASDAQ:RCM)

New York State Teachers Retirement System grew its stake in R1 RCM Inc. (NASDAQ:RCM) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 139,921 shares of the healthcare provider’s stock after acquiring an additional 3,300 shares during the quarter. New York State Teachers Retirement System’s holdings in R1 RCM were worth $1,479,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in 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 buying an additional 947,310 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of R1 RCM by 3.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 7,017,700 shares of the healthcare provider’s stock valued at $105,757,000 after purchasing an additional 229,104 shares in the last quarter. Wellington Management Group LLP grew its position in shares of R1 RCM by 21.1% in the 1st quarter. Wellington Management Group LLP now owns 6,223,742 shares of the healthcare provider’s stock valued at $166,548,000 after purchasing an additional 1,086,266 shares during the period. Invesco Ltd. increased its stake in R1 RCM by 4.4% during the 3rd quarter. Invesco Ltd. now owns 5,120,817 shares of the healthcare provider’s stock worth $77,171,000 after purchasing an additional 218,100 shares in the last quarter. Finally, State Street Corp raised its holdings in R1 RCM by 3.1% during the 1st quarter. State Street Corp now owns 4,915,311 shares of the healthcare provider’s stock worth $73,730,000 after buying an additional 147,840 shares during the period. 61.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at R1 RCM

In related news, President John M. Sparby sold 10,046 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $14.33, for a total value of $143,959.18. Following the completion of the sale, the president now directly 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 the SEC website. 37.00% of the stock is owned by company insiders.

R1 RCM Price Performance

NASDAQ RCM opened at $12.15 on Thursday. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.57. The firm’s fifty day moving average price is $12.67 and its two-hundred day moving average price is $11.55. R1 RCM Inc. has a 1 year low of $8.87 and a 1 year high of $18.70.

Analyst Ratings Changes

RCM has been the subject of several research analyst reports. Morgan Stanley reissued an “overweight” rating and set a $17.00 price objective on shares of R1 RCM in a research report on Tuesday, March 26th. Citigroup raised R1 RCM from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Wednesday, March 20th. SVB Leerink assumed coverage on R1 RCM in a research report on Monday, February 26th. They set an “outperform” rating and a $14.00 price objective for the company. Guggenheim decreased their price objective on R1 RCM from $17.00 to $15.00 and set a “buy” rating for the company in a report on Friday, April 5th. Finally, Evercore ISI restated an “in-line” rating and issued a $16.00 target price (up previously from $12.00) on shares of R1 RCM in a research note on Wednesday, February 28th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.87.

R1 RCM Company 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.