Goldman Sachs Downgrades Universal American Corp (UAM) to Sell

Goldman Sachs downgraded Universal American Corp (NYSE: UAM) from Neutral to Sell with a price target of $8.00.

The firm comments, "We downgrade Universal American to Sell from Neutral, reflecting our view of downside risk to earnings from its Medicare Advantage (MA) business given the scheduled funding reductions to MA under the health reform law (as context, MA represents over 70% of UAM earnings, by our estimate)."

For an analyst ratings summary and ratings history on Universal American Corp click here. For more ratings news on Universal American Corp click here.

Shares of Universal American Corp closed at $8.14 yesterday.

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