Health Insurance Innovations, Inc. (NASDAQ:HIIQ) has earned an average recommendation of “Buy” from the nine brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $33.00.
Several brokerages have recently weighed in on HIIQ. UBS AG upgraded shares of Health Insurance Innovations to an “outperform” rating in a research note on Thursday, May 4th. Craig Hallum restated a “buy” rating and set a $38.00 target price (up previously from $28.00) on shares of Health Insurance Innovations in a research note on Thursday, August 3rd. Canaccord Genuity restated a “buy” rating and set a $39.00 target price (up previously from $30.00) on shares of Health Insurance Innovations in a research note on Friday, August 4th. Zacks Investment Research upgraded shares of Health Insurance Innovations from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research note on Friday, August 4th. Finally, TheStreet upgraded shares of Health Insurance Innovations from a “c” rating to a “b-” rating in a research report on Monday, May 22nd.
Shares of Health Insurance Innovations (HIIQ) opened at 31.40 on Friday. Health Insurance Innovations has a 12-month low of $4.00 and a 12-month high of $32.95. The firm has a market cap of $391.53 million, a price-to-earnings ratio of 25.40 and a beta of 0.68. The firm’s 50-day moving average is $26.95 and its 200-day moving average is $20.70.
Health Insurance Innovations (NASDAQ:HIIQ) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $61.80 million for the quarter, compared to analysts’ expectations of $53.69 million. The company’s revenue for the quarter was up 38.9% compared to the same quarter last year. Analysts predict that Health Insurance Innovations will post $1.53 earnings per share for the current fiscal year.
In other Health Insurance Innovations news, CEO Bruce Telkamp sold 11,501 shares of Health Insurance Innovations stock in a transaction on Monday, August 7th. The shares were sold at an average price of $31.45, for a total transaction of $361,706.45. Following the completion of the transaction, the chief executive officer now directly owns 17,500 shares of the company’s stock, valued at $550,375. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sheldon Wang sold 26,421 shares of Health Insurance Innovations stock in a transaction on Monday, June 19th. The stock was sold at an average price of $22.99, for a total transaction of $607,418.79. Following the transaction, the insider now directly owns 262,577 shares of the company’s stock, valued at $6,036,645.23. The disclosure for this sale can be found here. Over the last three months, insiders sold 198,143 shares of company stock valued at $5,176,170. 30.00% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in HIIQ. Renaissance Technologies LLC increased its stake in Health Insurance Innovations by 68.3% in the second quarter. Renaissance Technologies LLC now owns 1,010,400 shares of the financial services provider’s stock valued at $23,744,000 after buying an additional 410,197 shares during the period. Russell Investments Group Ltd. acquired a new stake in Health Insurance Innovations during the second quarter valued at $14,467,000. Lyon Street Capital LLC acquired a new stake in Health Insurance Innovations during the first quarter valued at $8,772,000. Dialectic Capital Management LP increased its stake in Health Insurance Innovations by 39.7% in the first quarter. Dialectic Capital Management LP now owns 496,300 shares of the financial services provider’s stock valued at $7,941,000 after buying an additional 141,083 shares during the period. Finally, Emerald Mutual Fund Advisers Trust increased its stake in Health Insurance Innovations by 12.5% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 448,955 shares of the financial services provider’s stock valued at $10,550,000 after buying an additional 50,000 shares during the period. Institutional investors and hedge funds own 72.13% of the company’s stock.
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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