Shares of Apria Healthcare Group Inc. shot up Monday after a UBS analyst upgraded the stock based on easing concerns about Medicare reimbursement.
The Lake Forest home medical equipment provider’s stock was up 7% Monday with a market value of $1.1 billion.
Analyst Donald Hooker said in a research note that he upgraded the company from “sell” to “neutral” because there may not be big cuts to Medicare reimbursement and that the House might accept a Senate-originated Medicare bill that would be more “provider friendly.”
Earlier this month, a Citi Investment research analyst downgraded Apria based on concerns about what sort of Medicare legislation could come out of Congress.
