HMS (HMSY) Upgraded to “Hold” by Zacks Investment Research
Zacks Investment Research upgraded shares of HMS (NASDAQ:HMSY) from a sell rating to a hold rating in a report published on Friday.
According to Zacks, “healthcare marketplace. Using innovative technology as well as extensive data services and powerful analytics, the Company delivers coordination of benefits, payment integrity, and health management and member engagement solutions to help customers recover improper payments; prevent future improper payments; reduce fraud, waste and abuse; effectively engage their members and better manage the care they receive; and ensure regulatory compliance. The Company serves commercial health plans, state government agencies, federal programs, at-risk providers, pharmacy benefit managers and employers. “
HMSY has been the subject of several other research reports. Cantor Fitzgerald reiterated a buy rating and issued a $23.00 price objective on shares of HMS in a research note on Tuesday, September 26th. BidaskClub upgraded shares of HMS from a sell rating to a hold rating in a research note on Wednesday, December 6th. Canaccord Genuity decreased their price objective on shares of HMS from $22.00 to $17.00 and set a buy rating for the company in a research note on Monday, November 6th. Wells Fargo & Co reiterated an outperform rating and issued a $20.00 price objective (down previously from $25.50) on shares of HMS in a research note on Wednesday, November 29th. Finally, Jefferies Group reiterated a neutral rating on shares of HMS in a research note on Sunday, November 5th. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. HMS presently has a consensus rating of Buy and an average target price of $20.39.
Shares of HMS (NASDAQ HMSY) traded up $0.25 during midday trading on Friday, reaching $17.63. 410,600 shares of the company traded hands, compared to its average volume of 464,800. HMS has a twelve month low of $11.01 and a twelve month high of $20.90. The company has a market cap of $1,461.37, a PE ratio of 60.79, a price-to-earnings-growth ratio of 2.56 and a beta of 0.88.
HMS (NASDAQ:HMSY) last posted its quarterly earnings data on Friday, November 3rd. The business services provider reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.03). The firm had revenue of $125.70 million during the quarter, compared to analysts’ expectations of $147.62 million. HMS had a net margin of 4.94% and a return on equity of 7.93%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business posted $0.24 EPS. research analysts anticipate that HMS will post 0.55 EPS for the current fiscal year.
HMS announced that its Board of Directors has initiated a stock buyback program on Friday, November 3rd that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
Hedge funds have recently modified their holdings of the company. Segall Bryant & Hamill LLC purchased a new stake in shares of HMS during the 3rd quarter worth approximately $3,487,000. OxFORD Asset Management LLP increased its stake in shares of HMS by 33.5% during the 2nd quarter. OxFORD Asset Management LLP now owns 80,474 shares of the business services provider’s stock worth $1,489,000 after purchasing an additional 20,173 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of HMS by 11.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,522,709 shares of the business services provider’s stock worth $28,170,000 after purchasing an additional 151,856 shares during the last quarter. Peregrine Capital Management LLC increased its stake in shares of HMS by 50.9% during the 3rd quarter. Peregrine Capital Management LLC now owns 527,229 shares of the business services provider’s stock worth $10,471,000 after purchasing an additional 177,799 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in shares of HMS during the 3rd quarter worth approximately $469,000. Institutional investors own 95.93% of the company’s stock.
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HMS Company Profile
HMS Holdings Corp. is a holding company. The Company, through its subsidiaries, operates in the United States healthcare insurance benefit cost containment marketplace. It provides coordination of benefits services to government, and private healthcare payers and sponsors. Its payment integrity services ensure that healthcare claims billed are accurate and appropriate.
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