Rhenman & Partners Asset Management AB Buys Shares of 100,000 HMS Holdings Corp (NASDAQ:HMSY)

Rhenman & Partners Asset Management AB acquired a new stake in shares of HMS Holdings Corp (NASDAQ:HMSY) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 100,000 shares of the business services provider’s stock, valued at approximately $3,239,000. Rhenman & Partners Asset Management AB owned approximately 0.11% of HMS as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Legal & General Group Plc raised its stake in shares of HMS by 3.5% during the fourth quarter. Legal & General Group Plc now owns 200,598 shares of the business services provider’s stock valued at $5,649,000 after purchasing an additional 6,860 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of HMS by 4,550.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 130,448 shares of the business services provider’s stock valued at $3,670,000 after purchasing an additional 127,643 shares in the last quarter. Stifel Financial Corp raised its stake in shares of HMS by 9.1% during the fourth quarter. Stifel Financial Corp now owns 11,280 shares of the business services provider’s stock valued at $319,000 after purchasing an additional 941 shares in the last quarter. Pembroke Management LTD raised its stake in shares of HMS by 5.9% during the first quarter. Pembroke Management LTD now owns 898,265 shares of the business services provider’s stock valued at $26,598,000 after purchasing an additional 49,688 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. raised its stake in shares of HMS by 1.3% during the first quarter. Cookson Peirce & Co. Inc. now owns 34,945 shares of the business services provider’s stock valued at $1,035,000 after purchasing an additional 445 shares in the last quarter. Institutional investors and hedge funds own 95.71% of the company’s stock.

A number of brokerages recently weighed in on HMSY. Guggenheim began coverage on shares of HMS in a research note on Wednesday, April 17th. They set a “buy” rating on the stock. Credit Suisse Group restated an “outperform” rating on shares of HMS in a research note on Wednesday, July 10th. Chardan Capital upgraded shares of HMS from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $37.00 to $41.00 in a research note on Monday, July 1st. Zacks Investment Research lowered HMS from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Finally, Cantor Fitzgerald lowered HMS from an “overweight” rating to a “neutral” rating and set a $29.40 target price on the stock. in a report on Wednesday, April 17th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $33.57.

In related news, Chairman William C. Lucia sold 61,582 shares of HMS stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $31.59, for a total value of $1,945,375.38. Following the transaction, the chairman now owns 172,878 shares of the company’s stock, valued at approximately $5,461,216.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William C. Lucia sold 1,700 shares of HMS stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $31.62, for a total value of $53,754.00. Following the completion of the transaction, the chief executive officer now directly owns 143,332 shares in the company, valued at approximately $4,532,157.84. The disclosure for this sale can be found here. Insiders sold a total of 172,354 shares of company stock worth $5,347,710 in the last three months. 2.87% of the stock is currently owned by company insiders.

NASDAQ:HMSY traded up $3.29 during mid-day trading on Friday, reaching $38.33. 31,133 shares of the stock were exchanged, compared to its average volume of 392,290. The business’s fifty day moving average price is $32.98. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 45.63, a PEG ratio of 3.17 and a beta of 1.41. HMS Holdings Corp has a 1-year low of $24.05 and a 1-year high of $38.15. The company has a quick ratio of 5.34, a current ratio of 5.34 and a debt-to-equity ratio of 0.34.

HMS (NASDAQ:HMSY) last released its earnings results on Friday, August 2nd. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.18. The firm had revenue of $168.20 million for the quarter, compared to analyst estimates of $158.25 million. HMS had a return on equity of 14.02% and a net margin of 11.28%. HMS’s revenue was up 14.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 earnings per share. As a group, research analysts expect that HMS Holdings Corp will post 1 earnings per share for the current year.

About HMS

HMS Holdings Corp., through its subsidiaries, provides cost containment solutions in the United States healthcare marketplace. The company offers coordination of benefits services to government and commercial healthcare payers to ensure that the correct party pays the claim; and population management solutions that provide risk-bearing organizations with intelligence across their member populations to identify risks, and enhance patient engagement and outcomes, as well as payment integrity, care management and consumer engagement, and analytical solutions.

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Institutional Ownership by Quarter for HMS (NASDAQ:HMSY)

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