Investors Remain Focused On Medicaid RAC Market, Jefferies Reports (HMSY)

In a report focused on HMS Holdings Corp. HMSY, Jefferies says that investors are remaining focused on the Medicaid RAC market. “Investors remain intently focused on the Medicaid RAC market, of which, HMS has secured ~60% of contracts awarded thus far,” Jefferies writes. “It has also been making impressive progress in the Medicaid MCO market, adding another 1M lives during 1Q, bringing the total under coverage to 20.7M. We continue to like the story, but remained sidelined by the valuation.” HMS Holdings closed Friday at $78.71.