Health Insurance Innovations, Inc. (HIIQ) Given Average Recommendation of “Buy” by Brokerages
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.
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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.
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