UBS Starts Sun Healthcare Group (SUNH) at Neutral; Leading Operator with Reimbursement Concerns

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UBS initiates coverage on Sun Healthcare Group (NASDAQ: SUNH) with a Neutral. PT $8.50.

Analyst, A.J. Rice, said, "SUNH's recent amendment to its credit agreement offers greater cushion on its leverage covenants. The company paid down $50 million of debt and increased the interest rate by 1.25% on the remaining debt in order to receive relief on its maximum leverage and interest coverage covenants. However, potential Medicare and Medicaid reimbursement changes have been the biggest source of share price volatility for post-acute care providers."

For an analyst ratings summary and ratings history on Sun Healthcare Group click here. For more ratings news on Sun Healthcare Group click here.

Shares of Sun Healthcare Group closed at $8.35 yesterday, with a 52 week range of $2.06-$8.77.

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