Health Insurance Innovations, Inc. (NASDAQ:HIIQ) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.50-1.60 for the period, compared to the Thomson Reuters consensus estimate of $1.59. The company issued revenue guidance of $235-240 million, compared to the consensus revenue estimate of $235.49 million.
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, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.11. The business had revenue of $63.34 million for the quarter, compared to analysts’ expectations of $59.30 million. Health Insurance Innovations had a net margin of 5.98% and a return on equity of 22.26%. The business’s quarterly revenue was up 37.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.33 earnings per share.
Health Insurance Innovations announced that its board has authorized a share buyback 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 a sign that the company’s board believes its shares are undervalued.
A number of analysts recently weighed in on HIIQ shares. Canaccord Genuity restated a buy rating and set a $39.00 target price on shares of Health Insurance Innovations in a research note on Wednesday, September 13th. Cantor Fitzgerald restated a buy rating and set a $38.00 target price on shares of Health Insurance Innovations in a research note on Monday, September 25th. TheStreet lowered shares of Health Insurance Innovations from a b- rating to a c rating in a research note on Thursday, September 28th. ValuEngine upgraded shares of Health Insurance Innovations from a buy rating to a strong-buy rating in a research note on Monday, October 2nd. Finally, Zacks Investment Research lowered shares of Health Insurance Innovations from a buy rating to a hold rating in a research note on Wednesday, October 11th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $30.86.
In related news, Director Robert S. Murley purchased 3,000 shares of the company’s stock in a transaction on Friday, September 1st. The shares were bought at an average cost of $30.21 per share, for a total transaction of $90,630.00. Following the completion of the purchase, the director now directly owns 34,734 shares of the company’s stock, valued at approximately $1,049,314.14. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO of HealthPocket Bruce Telkamp sold 11,501 shares of the stock in a transaction that occurred 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 insider now owns 17,500 shares in the company, valued at $550,375. The disclosure for this sale can be found here. Insiders sold 60,077 shares of company stock worth $1,945,858 over the last quarter. 30.00% of the stock is currently owned by insiders.
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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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