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

Louisiana State Employees Retirement System cut its position in R1 RCM Inc. (NASDAQ:RCM) by 22.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 43,300 shares of the healthcare provider’s stock after selling 12,700 shares during the quarter. Louisiana State Employees Retirement System’s holdings in R1 RCM were worth $614,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in RCM. Gabelli Funds LLC bought a new position in shares of R1 RCM during the 1st quarter worth approximately $2,114,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of R1 RCM by 76.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 396,830 shares of the healthcare provider’s stock worth $5,111,000 after purchasing an additional 171,400 shares during the period. BOKF NA bought a new stake in shares of R1 RCM in the 1st quarter worth approximately $1,189,000. Natixis bought a new stake in shares of R1 RCM in the 1st quarter worth approximately $2,883,000. Finally, Boston Partners raised its holdings in shares of R1 RCM by 4,976.6% in the 1st quarter. Boston Partners now owns 2,570,371 shares of the healthcare provider’s stock worth $32,784,000 after purchasing an additional 2,519,739 shares during the period. Institutional investors own 61.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on RCM shares. Jefferies Financial Group cut shares of R1 RCM from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. TD Cowen reissued a “hold” rating and set a $14.30 target price (down previously from $20.00) on shares of R1 RCM in a report on Monday, August 5th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $14.30 price target on shares of R1 RCM in a report on Friday, October 4th. Canaccord Genuity Group reissued a “buy” rating and issued a $15.00 target price on shares of R1 RCM in a research note on Monday, July 22nd. Finally, Truist Financial cut their price target on shares of R1 RCM from $16.00 to $14.30 and set a “hold” rating for the company in a research report on Thursday, August 8th. Thirteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, R1 RCM presently has an average rating of “Hold” and an average price target of $15.41.

R1 RCM Stock Performance

R1 RCM stock opened at $14.27 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.77. R1 RCM Inc. has a 1-year low of $8.87 and a 1-year high of $15.12. The firm has a 50-day moving average of $14.17 and a 200-day moving average of $13.27. The firm has a market cap of $6.02 billion, a P/E ratio of -142.70 and a beta of 0.84.

R1 RCM (NASDAQ:RCM) last announced its earnings results on Wednesday, August 7th. The healthcare provider reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. R1 RCM had a negative net margin of 1.68% and a negative return on equity of 1.44%. The business had revenue of $627.90 million during the quarter, compared to the consensus estimate of $633.10 million. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. Sell-side 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.