Bokf Na Takes $1.19 Million Position in R1 RCM Inc. (NASDAQ:RCM)

Bokf Na acquired a new stake in R1 RCM Inc. (NASDAQ:RCM) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 94,633 shares of the healthcare provider’s stock, valued at approximately $1,189,000.

Several other hedge funds have also modified their holdings of the stock. Retirement Systems of Alabama raised its stake in shares of R1 RCM by 0.3% in the first quarter. Retirement Systems of Alabama now owns 247,476 shares of the healthcare provider’s stock valued at $3,187,000 after acquiring an additional 856 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of R1 RCM by 4.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 19,601 shares of the healthcare provider’s stock worth $207,000 after buying an additional 908 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of R1 RCM by 20.5% during the fourth 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 last quarter. State of Michigan Retirement System lifted its position in R1 RCM by 2.5% in the first quarter. State of Michigan Retirement System now owns 48,401 shares of the healthcare provider’s stock valued at $623,000 after purchasing an additional 1,200 shares during the period. Finally, Louisiana State Employees Retirement System lifted its position in R1 RCM by 2.5% in the first quarter. Louisiana State Employees Retirement System now owns 56,700 shares of the healthcare provider’s stock valued at $730,000 after purchasing an additional 1,400 shares during the period. 61.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Guggenheim reduced their price objective on shares of R1 RCM from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Cantor Fitzgerald restated an “overweight” rating and issued a $20.00 price objective on shares of R1 RCM in a research report on Tuesday, July 2nd. Truist Financial reiterated a “hold” rating and set a $16.00 price target on shares of R1 RCM in a research report on Monday, April 1st. Morgan Stanley reiterated an “overweight” rating and set a $17.00 price target on shares of R1 RCM in a research report on Monday, July 8th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $15.00 price target on shares of R1 RCM in a research report on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, R1 RCM has an average rating of “Moderate Buy” and an average target price of $16.00.

R1 RCM Stock Performance

Shares of NASDAQ RCM traded down $0.03 during trading on Monday, hitting $12.98. 214,929 shares of the company traded hands, compared to its average volume of 3,090,491. R1 RCM Inc. has a 1 year low of $8.87 and a 1 year high of $18.53. The company has a 50-day moving average price of $12.55 and a 200-day moving average price of $12.20. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.78.

R1 RCM (NASDAQ:RCM) last posted its earnings results on Wednesday, May 8th. The healthcare provider reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.03). The business had revenue of $603.90 million for the quarter, compared to analyst estimates of $612.88 million. R1 RCM had a negative net margin of 1.39% and a negative return on equity of 1.16%. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, analysts predict that R1 RCM Inc. will post -0.2 earnings per share for the current fiscal 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.