In a report released yesterday, Richard Close from Canaccord Genuity maintained a Buy rating on Hms Holdings Corp (NASDAQ: HMSY), with a price target of $24. The company’s shares opened today at $21.61, close to its 52-week high of $23.62.
Close said:
“We reiterate our BUY rating and raise our PT to $24 after recently hosting investor meetings with HMS CFO Jeff Sherman. Although shares have rebounded from depressed levels, we contend there is room to move higher as the benefits from improved workflows and technology investments take hold. A scenario is coming into focus for accelerated revenue growth driven by double-digit increases in payment integrity and the new population health offering and steady margin expansion through artificial intelligence and automation. With the acquisition of competitor Cotiviti, HMS will be the only publicly traded vehicle focused on ensuring payment integrity in healthcare.”
According to TipRanks.com, Close is a 5-star analyst with an average return of 13.5% and a 61.4% success rate. Close covers the Services sector, focusing on stocks such as Envision Healthcare, Evolent Health, and Premier Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Hms Holdings Corp with a $21.50 average price target.
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Hms Holdings Corp’s market cap is currently $1.8B and has a P/E ratio of 41.58. The company has a Price to Book ratio of 2.92.
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HMS Holdings Corp. engages in the provision of cost containment solutions in the healthcare marketplace. The firm operates through its wholly owned subsidiaries, Health Management Systems, Inc. HealthDataInsights, Inc., HMS Care Analytics, Inc., IntegriGuard, LLC, and Reimbursement Services Group Inc..
