State of Alaska Department of Revenue Trims Stock Holdings in R1 RCM Inc. (NASDAQ:RCM)

State of Alaska Department of Revenue trimmed its holdings in R1 RCM Inc. (NASDAQ:RCM) by 14.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,144 shares of the healthcare provider’s stock after selling 3,120 shares during the period. State of Alaska Department of Revenue’s holdings in R1 RCM were worth $257,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. GAMMA Investing LLC grew its stake in R1 RCM by 41.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,597 shares of the healthcare provider’s stock valued at $37,000 after buying an additional 759 shares in the last quarter. Arizona State Retirement System grew its position in shares of R1 RCM by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 47,063 shares of the healthcare provider’s stock valued at $591,000 after purchasing an additional 969 shares in the last quarter. QRG Capital Management Inc. grew its position in shares of R1 RCM by 10.6% during the 2nd quarter. QRG Capital Management Inc. now owns 11,307 shares of the healthcare provider’s stock valued at $142,000 after purchasing an additional 1,080 shares in the last quarter. Advisors Asset Management Inc. purchased a new position in shares of R1 RCM during the 1st quarter valued at $27,000. Finally, Texas Permanent School Fund Corp grew its position in shares of R1 RCM by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 172,179 shares of the healthcare provider’s stock valued at $2,218,000 after purchasing an additional 2,135 shares in the last quarter. 61.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RCM has been the subject of a number of recent analyst reports. TD Cowen restated a “hold” rating and set a $14.30 price target (down from $20.00) on shares of R1 RCM in a research report on Monday, August 5th. Morgan Stanley lowered shares of R1 RCM from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 8th. Jefferies Financial Group lowered shares of R1 RCM from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Leerink Partnrs downgraded shares of R1 RCM from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Stephens downgraded shares of R1 RCM from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 1st. Thirteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, R1 RCM presently has an average rating of “Hold” and a consensus price target of $15.41.

R1 RCM Stock Performance

R1 RCM stock opened at $14.28 on Friday. The company has a quick ratio of 1.84, a current ratio of 1.79 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $6.03 billion, a PE ratio of -95.19 and a beta of 0.84. The firm has a fifty day simple moving average of $14.19 and a two-hundred day simple moving average of $13.32. R1 RCM Inc. has a twelve month low of $8.87 and a twelve month high of $15.12.

R1 RCM (NASDAQ:RCM) last posted its quarterly earnings results on Tuesday, November 5th. The healthcare provider reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The business had revenue of $656.80 million during the quarter, compared to the consensus estimate of $640.93 million. R1 RCM had a negative return on equity of 2.18% and a negative net margin of 2.48%. R1 RCM’s revenue was up 14.7% compared to the same quarter last year. Research analysts expect that R1 RCM Inc. will post -0.37 EPS for the current year.

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.