Health Insurance Innovations, Inc. (HIIQ) Scheduled to Post Quarterly Earnings on Tuesday
Health Insurance Innovations, Inc. (NASDAQ:HIIQ) is scheduled to be issuing its quarterly earnings data after the market closes on Tuesday, October 31st. Analysts expect the company to announce earnings of $0.35 per share for the quarter.
Health Insurance Innovations (NASDAQ:HIIQ) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.13. Health Insurance Innovations had a net margin of 5.56% and a return on equity of 22.89%. The business had revenue of $61.80 million for the quarter, compared to analyst estimates of $53.69 million. The firm’s revenue was up 38.9% on a year-over-year basis. On average, analysts expect Health Insurance Innovations to post $1.61 EPS for the current fiscal year and $1.89 EPS for the next fiscal year.
Shares of Health Insurance Innovations, Inc. (NASDAQ HIIQ) opened at 21.00 on Tuesday. The stock’s 50 day moving average is $21.04 and its 200 day moving average is $23.45. The stock has a market capitalization of $261.85 million, a price-to-earnings ratio of 16.99 and a beta of 0.53. Health Insurance Innovations, Inc. has a 1-year low of $4.00 and a 1-year high of $37.38.
Health Insurance Innovations declared that its Board of Directors has initiated a share repurchase program on Monday, October 16th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
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A number of research analysts have recently issued reports on the stock. ValuEngine lowered shares of Health Insurance Innovations from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. Zacks Investment Research upgraded shares of Health Insurance Innovations from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research note on Friday, August 4th. Cantor Fitzgerald reiterated a “buy” rating and set a $38.00 price target on shares of Health Insurance Innovations in a research note on Friday, September 1st. Canaccord Genuity reiterated a “buy” rating and set a $39.00 price target on shares of Health Insurance Innovations in a research note on Friday, September 1st. Finally, Craig Hallum reiterated a “buy” rating and set a $38.00 price target (up from $28.00) on shares of Health Insurance Innovations in a research note on Thursday, August 3rd. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $30.86.
In related news, insider Sheldon Wang sold 4,530 shares of the business’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $32.73, for a total transaction of $148,266.90. Following the sale, the insider now owns 224,894 shares of the company’s stock, valued at $7,360,780.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Bruce Telkamp sold 30,000 shares of the business’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $28.30, for a total transaction of $849,000.00. Following the sale, the chief executive officer now directly owns 74,001 shares in the company, valued at approximately $2,094,228.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 125,077 shares of company stock worth $3,742,758. 30.00% of the stock is owned by insiders.
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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