Retirement Systems of Alabama Cuts Holdings in R1 RCM Inc. (NASDAQ:RCM)

Retirement Systems of Alabama reduced its position in shares of R1 RCM Inc. (NASDAQ:RCM) by 1.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 244,368 shares of the healthcare provider’s stock after selling 3,108 shares during the quarter. Retirement Systems of Alabama owned 0.06% of R1 RCM worth $3,069,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of RCM. Advisors Asset Management Inc. purchased a new position in R1 RCM during the first quarter worth approximately $27,000. Van ECK Associates Corp raised its stake in shares of R1 RCM by 20.5% during the 4th quarter. Van ECK Associates Corp now owns 6,141 shares of the healthcare provider’s stock worth $65,000 after buying an additional 1,044 shares during the period. QRG Capital Management Inc. purchased a new position in shares of R1 RCM during the 1st quarter valued at approximately $132,000. Caas Capital Management LP acquired a new stake in R1 RCM in the 4th quarter valued at $148,000. Finally, Covestor Ltd increased its holdings in R1 RCM by 340.9% in the 1st quarter. Covestor Ltd now owns 13,438 shares of the healthcare provider’s stock worth $172,000 after acquiring an additional 10,390 shares in the last quarter. 61.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RCM has been the topic of several recent analyst reports. TD Cowen reaffirmed a “hold” rating and set a $14.30 price objective (down from $20.00) on shares of R1 RCM in a report on Monday, August 5th. Leerink Partners cut R1 RCM from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $17.00 to $14.30 in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft boosted their price objective on R1 RCM from $14.00 to $16.00 and gave the stock a “hold” rating in a research note on Tuesday, July 9th. Cantor Fitzgerald restated a “neutral” rating and issued a $14.30 target price on shares of R1 RCM in a research report on Tuesday, August 20th. Finally, Jefferies Financial Group cut R1 RCM from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Thirteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $15.41.

R1 RCM Stock Up 0.1 %

RCM stock opened at $14.06 on Wednesday. The firm has a market cap of $5.92 billion, a PE ratio of -175.75 and a beta of 0.85. R1 RCM Inc. has a one year low of $8.87 and a one year high of $18.22. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.79 and a current ratio of 1.79. The firm’s 50 day moving average price is $13.12 and its 200-day moving average price is $12.77.

R1 RCM (NASDAQ:RCM) last posted its earnings results on Wednesday, August 7th. The healthcare provider reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The company had revenue of $627.90 million for the quarter, compared to the consensus estimate of $633.10 million. R1 RCM had a negative return on equity of 1.16% and a negative net margin of 1.39%. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, equities research analysts anticipate that R1 RCM Inc. will post -0.2 EPS for the current year.

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.