Thesis
As with other prominent healthcare stocks, HMS Holdings (HMSY) has taken it on the chin the last couple months. After hitting an all-time high of $40+, the stock is back down to $34 given the prevailing concerns related to uncertainty around the future of healthcare policy.
HMS Holdings has a unique niche in the healthcare industry. It sells cost containment solutions to health plans, primarily Medicaid agencies and Medicaid Managed Care Organizations that operate on behalf of state Medicaid agencies. It has a near-monopoly in the coordination of benefits space and has