UPDATE: Oppenheimer Reiterates HMS Holdings at Perform as Risk Profile Rises

Oppenheimer reiterated HMS Holdings HMSY with a Perform rating. Oppenheimer analyst Bret Jones commented, "CAQH recently announced an initiative to create a membership enrollment database to provide coordination of benefits (COB) for commercial clients. We spoke with a representative of CAQH to try to assess the competitive threat to HMS. While CAQH's announced offering will be in the commercial space, we were more concerned with the potential implication that CAQH's offering has in the Medicaid arena. Though CAQH's product is targeting commercial COB, we believe the database could siphon off COB work within Managed Medicaid." HMS Holdings closed at $29.06 on Monday.
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