Wells Fargo Starts HMS Holdings (HMSY) at Outperform; Uniquely Positioned

May 29, 2012 4:54 PM EDT
Get Alerts HMSY Hot Sheet
Price: $18.58 --0%

Rating Summary:
    7 Buy, 4 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Wells Fargo initiates coverage on HMS Holdings (NASDAQ: HMSY) with an Outperform. PT $34.00.

Analyst, Jamie Stockton, said, "The company builds databases for Medicaid agencies to determine if claims filed on Medicaid can be shifted to other insurers. HMS also uses sophisticated algorithms and auditing expertise to detect providers that are regularly overbilling or defrauding insurers. While organic growth should slow to about 15% this year, we expect it to accelerate to about 20% in 2013-14 as the Medicaid RAC contract wins ramp up and health reform boosts Medicaid enrollment. Even without health reform, we view HMS as attractive."

For an analyst ratings summary and ratings history on HMS Holdings click here. For more ratings news on HMS Holdings click here.

Shares of HMS Holdings closed at $26.40 yesterday.

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