Shares of HMS Holdings Corp (NASDAQ:HMSY) now has a market cap of $2.03 billion after it broke into a new 52-week high yesterday – HMSY stock hit a peak of $24.48. Shares closed at $24.44 after opening at $24.27.
52-Week High
52-week highs can either signal the end of a bull run and for investors to hold/sell – those who are on the more skeptical side. But for new investors, a 52-week high can be seen as a chance to buy as the stock is showing strong momentum and great potential.
HMS Holdings Corp
HMS Holdings Corp is a US-based holding company situated in the healthcare insurance benefits cost containment marketplace. It operates out of Irving, Texas and has 2,500 employees.
HMS makes its money by saving other major medical groups money. Such as Medicare and other programs – where billions of dollars a year are lost in fraudulent payments. According to the U.S. Department of Health and Human services, erroneous and deceptive payments by Medicaid and Medicare programs totaled $70 billion in 2010.
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HMS only gets paid if it helps its clients reduce costs. The other third of its revenue comes from service contracts and as it stands, HMS has little to no direct competition so it could be one to watch.
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