Intact Investment Management Inc. Acquires 32,100 Shares of R1 RCM Inc. (NASDAQ:RCM)

Intact Investment Management Inc. boosted its holdings in shares of R1 RCM Inc. (NASDAQ:RCM) by 236.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 45,700 shares of the healthcare provider’s stock after buying an additional 32,100 shares during the period. Intact Investment Management Inc.’s holdings in R1 RCM were worth $483,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its stake in R1 RCM by 28.5% during the third quarter. Van ECK Associates Corp now owns 5,097 shares of the healthcare provider’s stock worth $77,000 after purchasing an additional 1,130 shares during the last quarter. Victory Capital Management Inc. lifted its stake in R1 RCM by 4.2% during the third quarter. Victory Capital Management Inc. now owns 31,275 shares of the healthcare provider’s stock worth $471,000 after purchasing an additional 1,250 shares during the last quarter. Pathstone Family Office LLC lifted its stake in R1 RCM by 6.1% during the third quarter. Pathstone Family Office LLC now owns 32,638 shares of the healthcare provider’s stock worth $492,000 after purchasing an additional 1,867 shares during the last quarter. Headlands Technologies LLC bought a new stake in R1 RCM during the third quarter worth about $36,000. Finally, Mariner LLC lifted its stake in R1 RCM by 10.6% during the third quarter. Mariner LLC now owns 29,508 shares of the healthcare provider’s stock worth $445,000 after purchasing an additional 2,836 shares during the last quarter. Institutional investors own 61.10% of the company’s stock.

R1 RCM Stock Performance

Shares of NASDAQ:RCM opened at $11.90 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.83 and a current ratio of 1.83. The stock’s 50-day moving average is $12.83 and its 200 day moving average is $11.42. R1 RCM Inc. has a 1 year low of $8.87 and a 1 year high of $18.70.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Citigroup raised R1 RCM from a “neutral” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Wednesday, March 20th. SVB Leerink started coverage on R1 RCM in a research note on Monday, February 26th. They issued an “outperform” rating and a $14.00 target price for the company. Barclays reissued an “equal weight” rating and issued a $14.00 target price on shares of R1 RCM in a research note on Wednesday, February 28th. Evercore ISI reissued an “in-line” rating and issued a $16.00 target price (up previously from $12.00) on shares of R1 RCM in a research note on Wednesday, February 28th. Finally, Guggenheim lowered their target price on R1 RCM from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, R1 RCM currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.87.

Insider Buying and Selling

In related news, President John M. Sparby sold 10,046 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $14.33, for a total value of $143,959.18. Following the sale, 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 accessible through this link. 36.80% of the stock is currently owned by company insiders.

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.