Wetherby Asset Management Inc. trimmed its holdings in R1 RCM Inc (NASDAQ:RCM) by 23.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 500,390 shares of the financial services provider’s stock after selling 150,000 shares during the period. Wetherby Asset Management Inc. owned 0.45% of R1 RCM worth $3,978,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RCM. Bank of New York Mellon Corp raised its holdings in R1 RCM by 20.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 390,447 shares of the financial services provider’s stock worth $3,389,000 after acquiring an additional 66,099 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of R1 RCM by 13.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 473,855 shares of the financial services provider’s stock worth $4,114,000 after purchasing an additional 55,477 shares during the last quarter. BlackRock Inc. grew its position in shares of R1 RCM by 24.2% in the second quarter. BlackRock Inc. now owns 6,857,083 shares of the financial services provider’s stock valued at $59,520,000 after purchasing an additional 1,336,515 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of R1 RCM by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 863,909 shares of the financial services provider’s stock worth $7,499,000 after buying an additional 31,932 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of R1 RCM by 8.5% in the 2nd quarter. Bank of America Corp DE now owns 272,185 shares of the financial services provider’s stock valued at $2,363,000 after acquiring an additional 21,240 shares during the period. 58.89% of the stock is currently owned by institutional investors.
RCM has been the topic of several analyst reports. Citigroup started coverage on shares of R1 RCM in a research note on Monday, December 10th. They set a “buy” rating and a $20.00 price target on the stock. BidaskClub upgraded R1 RCM from a “hold” rating to a “buy” rating in a research report on Wednesday. KeyCorp initiated coverage on R1 RCM in a research report on Tuesday, January 22nd. They issued an “overweight” rating and a $10.00 price objective for the company. Finally, Zacks Investment Research downgraded R1 RCM from a “hold” rating to a “sell” rating in a research note on Friday, November 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. R1 RCM currently has a consensus rating of “Buy” and an average price target of $12.18.
RCM stock traded up $0.36 during mid-day trading on Friday, reaching $9.99. The company had a trading volume of 1,938,800 shares, compared to its average volume of 886,092. R1 RCM Inc has a 12 month low of $5.05 and a 12 month high of $11.00. The company has a market capitalization of $1.07 billion, a P/E ratio of -22.70 and a beta of -0.03. The company has a debt-to-equity ratio of 37.41, a current ratio of 1.06 and a quick ratio of 1.06.
R1 RCM Profile
R1 RCM Inc provides revenue cycle management (RCM) for healthcare providers in the United States. It offers end-to-end RCM services to manage their revenue cycle operations, which encompass patient registration, insurance and benefit verification, medical treatment documentation and coding, and bill preparation and collection from patients and payers.
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