Health Insurance Innovations Inc (HIIQ) Expected to Post Quarterly Sales of $57.74 Million

Wall Street analysts expect that Health Insurance Innovations Inc (NASDAQ:HIIQ) will post sales of $57.74 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Health Insurance Innovations’ earnings, with the highest sales estimate coming in at $57.80 million and the lowest estimate coming in at $57.67 million. Health Insurance Innovations posted sales of $51.40 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 12.3%. The company is expected to issue its next earnings report on Wednesday, March 7th.

According to Zacks, analysts expect that Health Insurance Innovations will report full-year sales of $57.74 million for the current fiscal year, with estimates ranging from $238.66 million to $238.80 million. For the next year, analysts anticipate that the business will post sales of $268.31 million per share, with estimates ranging from $260.90 million to $275.71 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Health Insurance Innovations.

Health Insurance Innovations (NASDAQ:HIIQ) last issued its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.11. The company had revenue of $63.34 million for the quarter, compared to the consensus estimate of $59.30 million. Health Insurance Innovations had a return on equity of 21.32% and a net margin of 5.98%. The firm’s revenue was up 37.4% compared to the same quarter last year. During the same period last year, the business posted $0.33 earnings per share.

A number of equities research analysts recently weighed in on the company. BidaskClub downgraded Health Insurance Innovations from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 2nd. Canaccord Genuity set a $39.00 target price on Health Insurance Innovations and gave the stock a “buy” rating in a research report on Sunday, November 12th. Cantor Fitzgerald reissued a “buy” rating and set a $38.00 target price on shares of Health Insurance Innovations in a research report on Wednesday, November 1st. Northland Securities reissued a “buy” rating and set a $37.00 target price on shares of Health Insurance Innovations in a research report on Tuesday, October 17th. Finally, TheStreet downgraded Health Insurance Innovations from a “b-” rating to a “c” rating in a research report on Thursday, September 28th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $32.67.

Shares of Health Insurance Innovations (NASDAQ HIIQ) opened at $25.20 on Wednesday. The stock has a market capitalization of $420.14, a PE ratio of 21.18 and a beta of 0.65. Health Insurance Innovations has a 1 year low of $12.65 and a 1 year high of $37.38.

Health Insurance Innovations announced that its board has authorized 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 repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

In other Health Insurance Innovations news, CTO Sheldon Wang sold 5,000 shares of the firm’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $25.00, for a total transaction of $125,000.00. Following the completion of the transaction, the chief technology officer now owns 122,769 shares in the company, valued at $3,069,225. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 57,464 shares of company stock worth $1,463,600. 30.00% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in HIIQ. Schwab Charles Investment Management Inc. bought a new position in Health Insurance Innovations during the second quarter worth about $440,000. Rhumbline Advisers bought a new position in Health Insurance Innovations during the second quarter worth about $277,000. Bank of New York Mellon Corp lifted its stake in Health Insurance Innovations by 179.0% during the second quarter. Bank of New York Mellon Corp now owns 34,233 shares of the financial services provider’s stock worth $805,000 after purchasing an additional 21,963 shares during the period. Wells Fargo & Company MN lifted its stake in Health Insurance Innovations by 1,292.6% during the second quarter. Wells Fargo & Company MN now owns 13,926 shares of the financial services provider’s stock worth $327,000 after purchasing an additional 12,926 shares during the period. Finally, AXA lifted its stake in Health Insurance Innovations by 3.5% during the second quarter. AXA now owns 23,396 shares of the financial services provider’s stock worth $550,000 after purchasing an additional 784 shares during the period. Hedge funds and other institutional investors own 68.00% 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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