Performant Healthcare initiated with an Outperform at Citizens JMP

Citizens JMP initiated coverage of Performant Healthcare (PHLT) with an Outperform rating and $8 price target The firm says Performant is a leading technology-enabled healthcare payment integrity vendor. The company is currently implementing its first-ever state Medicaid recovery audit contractor ward in New York, which positions it well for other state-based opportunities, the analyst tells investors in a research note. Citizens is constructive on Performant’s capabilities and the model’s ability to extend services across a diverse set of payor types.