Health Insurance Innovations, Inc. (NASDAQ:HIIQ) Given “Buy” Rating at Canaccord Genuity
Health Insurance Innovations, Inc. (NASDAQ:HIIQ)‘s stock had its “buy” rating reiterated by analysts at Canaccord Genuity in a report issued on Friday. They presently have a $39.00 price objective on the financial services provider’s stock, up from their prior price objective of $30.00. Canaccord Genuity’s price target points to a potential upside of 23.03% from the stock’s previous close.
A number of other equities research analysts also recently issued reports on the company. Craig Hallum restated a “buy” rating and set a $38.00 price objective (up from $28.00) on shares of Health Insurance Innovations in a research report on Thursday. Cantor Fitzgerald restated an “overweight” rating and set a $35.00 price objective (up from $30.00) on shares of Health Insurance Innovations in a research report on Monday, July 17th. Zacks Investment Research downgraded Health Insurance Innovations from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Raymond James Financial, Inc. restated a “market perform” rating on shares of Health Insurance Innovations in a research report on Monday, June 26th. Finally, TheStreet upgraded Health Insurance Innovations from a “c” rating to a “b-” rating in a research report on Monday, May 22nd. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Health Insurance Innovations currently has a consensus rating of “Buy” and an average price target of $30.83.
Shares of Health Insurance Innovations (HIIQ) traded up 7.09% during midday trading on Friday, hitting $31.70. The stock had a trading volume of 911,774 shares. The company’s 50 day moving average is $25.25 and its 200 day moving average is $20.08. The company has a market cap of $366.14 million, a PE ratio of 25.65 and a beta of 0.68. Health Insurance Innovations has a 52-week low of $3.90 and a 52-week high of $32.95.
Health Insurance Innovations (NASDAQ:HIIQ) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.13. Health Insurance Innovations had a return on equity of 23.92% and a net margin of 5.56%. The business had revenue of $61.80 million for the quarter, compared to the consensus estimate of $53.69 million. The firm’s revenue for the quarter was up 38.9% on a year-over-year basis. On average, analysts anticipate that Health Insurance Innovations will post $1.48 earnings per share for the current year.
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In other news, insider Sheldon Wang sold 4,750 shares of the stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $25.80, for a total value of $122,550.00. Following the sale, the insider now directly owns 224,001 shares in the company, valued at $5,779,225.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Bruce Telkamp sold 24,179 shares of the stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $20.25, for a total value of $489,624.75. Following the completion of the sale, the chief executive officer now owns 116,501 shares in the company, valued at $2,359,145.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 256,983 shares of company stock worth $6,283,895. Company insiders own 30.00% of the company’s stock.
Several large investors have recently modified their holdings of the company. Bank of Montreal Can acquired a new stake in shares of Health Insurance Innovations during the first quarter valued at $118,000. Acrospire Investment Management LLC increased its stake in shares of Health Insurance Innovations by 36.8% in the first quarter. Acrospire Investment Management LLC now owns 11,505 shares of the financial services provider’s stock valued at $184,000 after buying an additional 3,094 shares during the last quarter. Rhumbline Advisers acquired a new stake in shares of Health Insurance Innovations during the second quarter valued at $277,000. Sheets Smith Wealth Management acquired a new stake in shares of Health Insurance Innovations during the second quarter valued at $280,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Health Insurance Innovations by 11.5% in the first quarter. Bank of New York Mellon Corp now owns 12,270 shares of the financial services provider’s stock valued at $197,000 after buying an additional 1,266 shares during the last quarter. Hedge funds and other institutional investors own 71.94% of the company’s stock.
Health Insurance Innovations Company Profile
Health Insurance Innovations, Inc is a developer, distributor and cloud-based administrator of individual and family health insurance plans (IFPs) and supplemental products, which include short-term medical (STM) insurance plans, and guaranteed-issue and underwritten hospital indemnity plans. The Company also develops, distributes and administers supplemental products, which include a range of additional insurance and non-insurance products, such as pharmacy benefit cards, dental plans, vision plans, cancer/critical illness plans, deductible and gap protection plans, and life insurance policies that are purchased as supplements to IFP.
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