Shares of Health Insurance Innovations, Inc. (NASDAQ:HIIQ) have been assigned a consensus rating of “Buy” from the nine ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $33.00.

Several equities analysts have recently issued reports on HIIQ shares. Zacks Investment Research raised Health Insurance Innovations from a “hold” rating to a “strong-buy” rating and set a $27.00 target price for the company in a report on Wednesday, June 21st. Craig Hallum started coverage on Health Insurance Innovations in a report on Monday, June 12th. They issued a “buy” rating and a $28.00 target price for the company. Canaccord Genuity reaffirmed a “buy” rating and issued a $39.00 target price (up from $30.00) on shares of Health Insurance Innovations in a report on Friday. Finally, Raymond James Financial, Inc. raised Health Insurance Innovations from a “market perform” rating to an “outperform” rating and set a $20.00 target price for the company in a report on Thursday, May 4th.

Health Insurance Innovations (NASDAQ HIIQ) traded up 0.47% during mid-day trading on Tuesday, hitting $32.40. The stock had a trading volume of 100,507 shares. The firm’s 50-day moving average price is $25.25 and its 200-day moving average price is $20.08. Health Insurance Innovations has a 1-year low of $3.90 and a 1-year high of $32.95. The stock has a market cap of $374.22 million, a PE ratio of 26.21 and a beta of 0.68.

Health Insurance Innovations (NASDAQ:HIIQ) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.13. The company had revenue of $61.80 million during the quarter, compared to analyst estimates of $53.69 million. Health Insurance Innovations had a return on equity of 23.92% and a net margin of 5.56%. Health Insurance Innovations’s quarterly revenue was up 38.9% on a year-over-year basis. On average, equities analysts expect that Health Insurance Innovations will post $1.52 earnings per share for the current year.

In related news, insider Sheldon Wang sold 12,417 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $21.18, for a total value of $262,992.06. Following the transaction, the insider now owns 226,251 shares in the company, valued at $4,791,996.18. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Bruce Telkamp sold 24,179 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $20.25, for a total value of $489,624.75. Following the completion of the transaction, the chief executive officer now owns 116,501 shares in the company, valued at approximately $2,359,145.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 241,983 shares of company stock worth $5,978,345. 30.00% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can purchased a new position in Health Insurance Innovations during the first quarter valued at approximately $118,000. Acrospire Investment Management LLC increased its position in 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. Bank of New York Mellon Corp increased its position in 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. Segantii Capital Management Ltd purchased a new position in Health Insurance Innovations during the first quarter valued at approximately $229,000. Finally, SG Americas Securities LLC purchased a new position in Health Insurance Innovations during the first quarter valued at approximately $252,000. Institutional investors and hedge funds own 72.13% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Health Insurance Innovations, Inc. (HIIQ) Given Average Recommendation of “Buy” by Brokerages” was first posted by American Banking News and is owned by of American Banking News. If you are viewing this article on another website, it was copied illegally and reposted in violation of United States and international copyright laws. The correct version of this article can be accessed at https://www.americanbankingnews.com/2017/08/08/health-insurance-innovations-inc-hiiq-given-average-recommendation-of-buy-by-brokerages-2.html.

About Health Insurance Innovations

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.

Analyst Recommendations for Health Insurance Innovations (NASDAQ:HIIQ)

Receive News & Ratings for Health Insurance Innovations Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Health Insurance Innovations Inc. and related companies with MarketBeat.com's FREE daily email newsletter.