The Manufacturers Life Insurance Company lifted its stake in Accretive Health Inc. (NASDAQ:RCM) by 2,721.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 80,645 shares of the financial services provider’s stock after acquiring an additional 77,787 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Accretive Health were worth $303,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Voya Investment Management LLC acquired a new stake in Accretive Health during the 2nd quarter worth approximately $170,000. AXA acquired a new stake in Accretive Health during the 2nd quarter worth approximately $198,000. Virtu KCG Holdings LLC lifted its holdings in Accretive Health by 291.3% during the 2nd quarter. Virtu KCG Holdings LLC now owns 56,000 shares of the financial services provider’s stock worth $210,000 after buying an additional 41,690 shares in the last quarter. Nationwide Fund Advisors acquired a new stake in Accretive Health during the 2nd quarter worth approximately $215,000. Finally, Wells Fargo & Company MN acquired a new stake in Accretive Health during the 2nd quarter worth approximately $286,000. Hedge funds and other institutional investors own 47.69% of the company’s stock.
RCM has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Accretive Health from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 4th. Robert W. Baird reiterated a “hold” rating and set a $5.00 target price on shares of Accretive Health in a report on Thursday, August 24th.
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Accretive Health Profile
R1 RCM Inc, formerly Accretive Health, Inc, is a provider of revenue cycle management (RCM) and physician advisory services (PAS) to healthcare providers. The Company is engaged in providing management services of revenue cycle operations for the United States-based hospitals and other medical services providers.
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