Oppenheimer analyst Mohan Naidu maintained a Buy rating on Hms Holdings Corp (NASDAQ: HMSY) today and set a price target of $37. The company’s shares opened today at $31.50, close to its 52-week high of $35.03.
Naidu wrote:
“HMSY reported another strong quarter, beating expectations on both revenues and EPS at $154M/$0.31 vs. our $143M/$0.20 ests. Commercial continues to show momentum along with the analytical segment, which has strong tailwind from the Eliza and Essette contribution. The company’s recent focus on execution on multiple fronts is starting to pay off and we expect to see the current momentum to continue. Implementation initiative to expedite orders to revenue conversion appears to be on track and mgmt. expressed confidence in getting to two-quarter conversion cycle by year-end. The total population health mgmt. solutions are resonating well and are adding to the growth tailwinds. Further, we believe we’re at the beginning of the machine learning/AI tailwind that is likely to surprise investors. Reiterate Outperform, increasing target to $37.”
According to TipRanks.com, Naidu is a 5-star analyst with an average return of 16.1% and a 61.9% success rate. Naidu covers the Services sector, focusing on stocks such as Evolent Health, Premier Inc, and CVS Health.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Hms Holdings Corp with a $30.70 average price target.
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Hms Holdings Corp’s market cap is currently $2.46B and has a P/E ratio of 73.7. The company has a Price to Book ratio of 3.97.
Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of HMSY in relation to earlier this year. Most recently, in September 2018, William F. Miller, a Director at HMSY bought 2,554 shares for a total of $58,614.
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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..
