After Guggenheim and Oppenheimer gave Hms Holdings Corp (NASDAQ: HMSY) a Buy rating last month, the company received another Buy, this time from Cantor Fitzgerald. Analyst Steven Halper reiterated a Buy rating on Hms Holdings Corp today and set a price target of $37. The company’s shares opened today at $31.94.
Halper wrote:
“. We reiterate our Overweight rating on HMSY shares and raise our price target to $37 from $36. 3, HMSY reported solid 1Q19 results and reaffirmed its full year 2019 guidance. Revenue and adjusted EPS were ahead of our estimates and FactSet consensus. Excluding discrete tax benefits, adjusted EPS would have matched our estimate. HMSY noted it has signed its second Medicaid managed care plan for its Elli (risk intelligence) product, which is notable. Furthermore, traction for Management (TPM) appears to be increasing. This supports our view that TPM should to drive acceleration in top line growth.”
According to TipRanks.com, Halper is a 5-star analyst with an average return of 16.5% and a 61.4% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Tivity Health Inc, and Evolent Health.
Currently, the analyst consensus on Hms Holdings Corp is a Strong Buy with an average price target of $37, implying a 15.8% upside from current levels. In a report released today, Oppenheimer also maintained a Buy rating on the stock with a $41 price target.
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Based on Hms Holdings Corp’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $33.39 million. In comparison, last year the company had a net profit of $6.39 million.
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HMS Holdings Corp. engages in the provision of cost containment solutions in the healthcare marketplace. It uses healthcare data technology, analytics, and related services to deliver coordination of benefits, payment, population risk intelligence, care management, and consumer engagement solutions to help payers reduce costs, and improve healthcare outcomes.
