Mirae Asset Global Investments Co. Ltd. Sells 77,218 Shares of R1 RCM Inc. (NASDAQ:RCM)

Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of R1 RCM Inc. (NASDAQ:RCM) by 25.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 225,430 shares of the healthcare provider’s stock after selling 77,218 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.05% of R1 RCM worth $2,383,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of RCM. Morgan Stanley raised its position in R1 RCM by 1,228.8% during the 4th quarter. Morgan Stanley now owns 4,406,101 shares of the healthcare provider’s stock worth $48,247,000 after purchasing an additional 4,074,515 shares during the last quarter. Bank of America Corp DE raised its position in R1 RCM by 190.7% during the 1st quarter. Bank of America Corp DE now owns 4,871,835 shares of the healthcare provider’s stock worth $73,078,000 after purchasing an additional 3,195,965 shares during the last quarter. Norges Bank bought a new position in R1 RCM during the 4th quarter worth $30,117,000. Invesco Ltd. raised its position in R1 RCM by 122.0% during the 1st quarter. Invesco Ltd. now owns 2,931,147 shares of the healthcare provider’s stock worth $78,438,000 after purchasing an additional 1,610,594 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in R1 RCM by 21.1% during the 1st quarter. Wellington Management Group LLP now owns 6,223,742 shares of the healthcare provider’s stock worth $166,548,000 after purchasing an additional 1,086,266 shares during the last quarter. 61.10% of the stock is owned by institutional investors.

Insider Buying and Selling at R1 RCM

In other R1 RCM news, President John M. Sparby sold 10,046 shares of R1 RCM stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $14.33, for a total transaction of $143,959.18. Following the completion of the transaction, the president now owns 265,986 shares in the company, valued at approximately $3,811,579.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 37.00% of the company’s stock.

R1 RCM Trading Down 1.1 %

RCM stock opened at $12.02 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.57. R1 RCM Inc. has a 52-week low of $8.87 and a 52-week high of $18.70. The business has a 50-day simple moving average of $12.70 and a two-hundred day simple moving average of $11.55.

Analysts Set New Price Targets

A number of analysts have weighed in on RCM shares. Evercore ISI reiterated an “in-line” rating and set a $16.00 price target (up from $12.00) on shares of R1 RCM in a report on Wednesday, February 28th. Leerink Partnrs reiterated an “outperform” rating on shares of R1 RCM in a report on Monday, February 26th. Barclays reiterated an “equal weight” rating and set a $14.00 price target on shares of R1 RCM in a report on Wednesday, February 28th. Truist Financial reiterated a “hold” rating and set a $16.00 price target on shares of R1 RCM in a report on Monday, April 1st. Finally, Morgan Stanley reiterated an “overweight” rating and set a $17.00 price target on shares of R1 RCM in a report on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.87.

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.