State of New Jersey Common Pension Fund D Cuts Position in R1 RCM Inc. (NASDAQ:RCM)

State of New Jersey Common Pension Fund D lowered its position in R1 RCM Inc. (NASDAQ:RCM) by 2.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 141,280 shares of the healthcare provider’s stock after selling 3,118 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in R1 RCM were worth $2,002,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in shares of R1 RCM by 41.3% during the 3rd 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. Arizona State Retirement System raised its holdings in R1 RCM by 2.1% during the second quarter. Arizona State Retirement System now owns 47,063 shares of the healthcare provider’s stock worth $591,000 after purchasing an additional 969 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in shares of R1 RCM by 10.6% in the 2nd quarter. QRG Capital Management Inc. now owns 11,307 shares of the healthcare provider’s stock valued at $142,000 after buying an additional 1,080 shares in the last quarter. Advisors Asset Management Inc. purchased a new position in shares of R1 RCM in the 1st quarter valued at $27,000. Finally, Victory Capital Management Inc. raised its stake in R1 RCM by 7.7% during the 2nd quarter. Victory Capital Management Inc. now owns 36,006 shares of the healthcare provider’s stock worth $452,000 after acquiring an additional 2,574 shares in the last quarter. Institutional investors and hedge funds own 61.10% of the company’s stock.

R1 RCM Price Performance

RCM stock opened at $14.30 on Friday. The firm has a 50 day moving average of $14.21 and a 200-day moving average of $13.40. The company has a market cap of $6.04 billion, a price-to-earnings ratio of -95.33 and a beta of 0.84. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.76. R1 RCM Inc. has a 12-month low of $8.87 and a 12-month high of $15.12.

R1 RCM (NASDAQ:RCM) last issued its quarterly earnings data on Tuesday, November 5th. The healthcare provider reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.04). R1 RCM had a negative return on equity of 2.18% and a negative net margin of 2.48%. The firm had revenue of $656.80 million for the quarter, compared to analyst estimates of $640.93 million. The firm’s revenue was up 14.7% compared to the same quarter last year. As a group, equities analysts expect that R1 RCM Inc. will post -0.38 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on RCM shares. Morgan Stanley lowered R1 RCM from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 8th. Leerink Partners lowered R1 RCM from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $17.00 to $14.30 in a research report on Thursday, August 1st. 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 reiterated a “hold” rating and set a $14.30 price target (down previously from $20.00) on shares of R1 RCM in a research note on Monday, August 5th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $14.30 price objective on shares of R1 RCM in a research note on Friday, October 4th. Thirteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $15.41.

R1 RCM Company 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.