Louisiana State Employees Retirement System Has $614,000 Holdings in R1 RCM Inc. (NASDAQ:RCM)

Louisiana State Employees Retirement System cut its holdings in shares of R1 RCM Inc. (NASDAQ:RCM) by 22.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,300 shares of the healthcare provider’s stock after selling 12,700 shares during the period. Louisiana State Employees Retirement System’s holdings in R1 RCM were worth $614,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RCM. Advisors Asset Management Inc. bought a new stake in R1 RCM during the first quarter worth about $27,000. GAMMA Investing LLC raised its holdings in R1 RCM by 41.3% during the third quarter. GAMMA Investing LLC now owns 2,597 shares of the healthcare provider’s stock worth $37,000 after acquiring an additional 759 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in R1 RCM by 589.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,122 shares of the healthcare provider’s stock worth $44,000 after buying an additional 2,669 shares during the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in R1 RCM during the second quarter worth approximately $86,000. Finally, Values First Advisors Inc. acquired a new position in R1 RCM during the third quarter worth approximately $88,000. 61.10% of the stock is currently owned by institutional investors.

R1 RCM Stock Down 0.1 %

Shares of NASDAQ:RCM opened at $14.27 on Wednesday. The firm has a market cap of $6.02 billion, a P/E ratio of -142.70 and a beta of 0.84. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.77. R1 RCM Inc. has a 12-month low of $8.87 and a 12-month high of $15.12. The business has a fifty day simple moving average of $14.17 and a 200 day simple moving average of $13.27.

R1 RCM (NASDAQ:RCM) last announced its earnings results on Wednesday, August 7th. The healthcare provider reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.03. R1 RCM had a negative return on equity of 1.44% and a negative net margin of 1.68%. The business had revenue of $627.90 million during the quarter, compared to analyst estimates of $633.10 million. R1 RCM’s quarterly revenue was up 12.0% on a year-over-year basis. Analysts predict that R1 RCM Inc. will post -0.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RCM. Leerink Partnrs downgraded R1 RCM from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Stephens downgraded R1 RCM from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 1st. TD Cowen restated a “hold” rating and set a $14.30 target price (down from $20.00) on shares of R1 RCM in a research note on Monday, August 5th. Jefferies Financial Group cut R1 RCM from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Truist Financial cut their target price on R1 RCM from $16.00 to $14.30 and set a “hold” rating for the company in a research note on Thursday, August 8th. Thirteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $15.41.

R1 RCM 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.