HealthStream’s (HSTM) Hold Rating Reaffirmed at Canaccord Genuity
HealthStream, Inc. (NASDAQ:HSTM)‘s stock had its “hold” rating restated by Canaccord Genuity in a research report issued on Monday. They currently have a $25.00 target price on the technology company’s stock. Canaccord Genuity’s target price would suggest a potential upside of 2.29% from the company’s previous close.
The analysts wrote, “We maintain our HOLD rating and $25 PT and will reevaluate our thesis and PT following tomorrow’s conference call. We suspect shares may react favorably given the strong operating income beat and raised 2017 operating income guidance, although we note that the implied 4Q guide is disappointing versus our previous estimates and consensus. Key positive: Delivering significant upside to operating income and raising 2017 operating income guidance will be viewed favorably. In the past, investors have questioned when HSTM would begin to deliver improved profitability. Key negative: Normalized growth in Workforce Solutions. The company’s largest division experienced a slowdown in growth.””
Several other equities research analysts also recently commented on the company. Robert W. Baird reissued an “outperform” rating and issued a $35.00 target price on shares of HealthStream in a report on Tuesday, June 27th. ValuEngine downgraded HealthStream from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Zacks Investment Research downgraded HealthStream from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Cantor Fitzgerald reissued a “neutral” rating and issued a $24.00 target price (down from $28.00) on shares of HealthStream in a report on Wednesday, July 26th. Finally, First Analysis raised HealthStream from an “underweight” rating to an “equal weight” rating and set a $19.00 target price on the stock in a report on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. HealthStream has a consensus rating of “Hold” and an average price target of $25.17.
Shares of HealthStream (NASDAQ HSTM) traded up 2.09% during trading on Monday, hitting $24.44. The company had a trading volume of 107,478 shares. The company’s 50 day moving average is $23.67 and its 200 day moving average is $25.48. HealthStream has a 1-year low of $20.60 and a 1-year high of $31.53. The firm has a market capitalization of $779.29 million, a P/E ratio of 175.83 and a beta of 0.98.
HealthStream (NASDAQ:HSTM) last issued its quarterly earnings results on Tuesday, October 31st. The technology company reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.03. The company had revenue of $63.60 million for the quarter, compared to analysts’ expectations of $62.48 million. HealthStream had a return on equity of 3.12% and a net margin of 3.69%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.04 earnings per share. Analysts anticipate that HealthStream will post $0.22 earnings per share for the current fiscal year.
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A number of institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its holdings in HealthStream by 0.4% in the first quarter. PNC Financial Services Group Inc. now owns 8,645 shares of the technology company’s stock worth $210,000 after acquiring an additional 31 shares in the last quarter. Bank of Montreal Can boosted its holdings in HealthStream by 1.1% in the second quarter. Bank of Montreal Can now owns 5,720 shares of the technology company’s stock worth $151,000 after acquiring an additional 65 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in HealthStream by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 20,433 shares of the technology company’s stock worth $538,000 after acquiring an additional 158 shares in the last quarter. Arizona State Retirement System boosted its holdings in HealthStream by 1.5% in the first quarter. Arizona State Retirement System now owns 13,264 shares of the technology company’s stock worth $321,000 after acquiring an additional 200 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in HealthStream by 1.0% in the second quarter. Wells Fargo & Company MN now owns 21,781 shares of the technology company’s stock worth $573,000 after acquiring an additional 206 shares in the last quarter. 75.87% of the stock is currently owned by institutional investors and hedge funds.
HealthStream Company Profile
HealthStream, Inc (HealthStream) provides workforce, patient experience and provider solutions for healthcare organizations. The Company operates in three segments: HealthStream Workforce Solutions, HealthStream Patient Experience Solutions and HealthStream Provider Solutions. HealthStream’s products and services are organized into three segments: Workforce Solutions, Patient Experience Solutions, and Provider Solutions.
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