Victory Capital Management Inc. Raises Stock Holdings in R1 RCM Inc. (NASDAQ:RCM)

Victory Capital Management Inc. raised its stake in shares of R1 RCM Inc. (NASDAQ:RCM) by 23.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,617 shares of the healthcare provider’s stock after purchasing an additional 7,342 shares during the quarter. Victory Capital Management Inc.’s holdings in R1 RCM were worth $408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of RCM. Headlands Technologies LLC purchased a new position in R1 RCM in the third quarter worth $36,000. ANTIPODES PARTNERS Ltd grew its position in R1 RCM by 429.5% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 5,623 shares of the healthcare provider’s stock valued at $59,000 after acquiring an additional 4,561 shares during the last quarter. Salem Investment Counselors Inc. purchased a new position in shares of R1 RCM during the fourth quarter worth approximately $61,000. Van ECK Associates Corp lifted its holdings in shares of R1 RCM by 20.5% in the 4th quarter. Van ECK Associates Corp now owns 6,141 shares of the healthcare provider’s stock worth $65,000 after acquiring an additional 1,044 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in shares of R1 RCM in the 3rd quarter valued at $189,000. Hedge funds and other institutional investors own 61.10% of the company’s stock.

R1 RCM Stock Up 2.8 %

Shares of RCM opened at $12.48 on Friday. The business’s 50 day simple moving average is $12.48 and its 200-day simple moving average is $11.53. R1 RCM Inc. has a 1 year low of $8.87 and a 1 year high of $18.70. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of -156.00 and a beta of 0.78.

R1 RCM (NASDAQ:RCM) last issued its quarterly earnings data on Wednesday, May 8th. The healthcare provider reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). R1 RCM had a negative return on equity of 1.16% and a negative net margin of 1.39%. The business had revenue of $603.90 million during the quarter, compared to analysts’ expectations of $612.88 million. R1 RCM’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, equities analysts expect that R1 RCM Inc. will post -0.09 earnings per share for the current fiscal year.

Insider Transactions at R1 RCM

In related news, President John M. Sparby sold 10,046 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $14.33, for a total transaction of $143,959.18. Following the sale, the president now owns 265,986 shares in the company, valued at approximately $3,811,579.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 36.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on RCM shares. 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. KeyCorp reissued a “sector weight” rating on shares of R1 RCM in a report on Wednesday, April 10th. Canaccord Genuity Group decreased their target price on R1 RCM from $16.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Royal Bank of Canada reissued an “outperform” rating and set a $19.00 price objective on shares of R1 RCM in a research report on Thursday, March 7th. Finally, SVB Leerink started coverage on shares of R1 RCM in a research report on Monday, February 26th. They issued an “outperform” rating and a $14.00 target price for the company. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.31.

About R1 RCM

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.