$57.74 Million in Sales Expected for Health Insurance Innovations Inc (HIIQ) This Quarter

Wall Street analysts expect Health Insurance Innovations Inc (NASDAQ:HIIQ) to post $57.74 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Health Insurance Innovations’ earnings. The highest sales estimate is $57.80 million and the lowest is $57.67 million. Health Insurance Innovations posted sales of $51.40 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 12.3%. The business is expected to report its next quarterly earnings results 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 financial year, with estimates ranging from $238.66 million to $238.80 million. For the next year, analysts anticipate that the company 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 calculations are a mean average based on a survey of research analysts that that provide coverage for Health Insurance Innovations.

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

HIIQ has been the topic of a number of research analyst reports. 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $38.00 price objective on shares of Health Insurance Innovations in a research note on Tuesday, September 12th. Canaccord Genuity set a $39.00 price objective on shares of Health Insurance Innovations and gave the company a “buy” rating in a research note on Sunday, November 12th. BidaskClub lowered shares of Health Insurance Innovations from a “buy” rating to a “hold” rating in a research note on Saturday, December 9th. Finally, ValuEngine upgraded shares of Health Insurance Innovations from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 2nd. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Health Insurance Innovations presently has an average rating of “Buy” and a consensus target price of $32.67.

In other news, Director Robert S. Murley acquired 5,000 shares of the stock in a transaction on Friday, December 8th. The shares were purchased at an average cost of $22.50 per share, for a total transaction of $112,500.00. Following the transaction, the director now owns 39,734 shares in the company, valued at approximately $894,015. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Sheldon Wang sold 10,000 shares of Health Insurance Innovations stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $25.00, for a total transaction of $250,000.00. Following the transaction, the insider now owns 144,001 shares in the company, valued at $3,600,025. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,000 shares of company stock worth $1,027,000. 30.00% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC grew its position in Health Insurance Innovations by 68.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,010,400 shares of the financial services provider’s stock worth $23,744,000 after purchasing an additional 410,197 shares in the last quarter. Lyon Street Capital LLC grew its position in Health Insurance Innovations by 49.4% during the 3rd quarter. Lyon Street Capital LLC now owns 936,747 shares of the financial services provider’s stock worth $13,583,000 after purchasing an additional 309,668 shares in the last quarter. Capital World Investors purchased a new position in Health Insurance Innovations during the 2nd quarter worth approximately $11,680,000. Emerald Mutual Fund Advisers Trust grew its position in Health Insurance Innovations by 3.1% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 462,963 shares of the financial services provider’s stock worth $6,713,000 after purchasing an additional 14,008 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Health Insurance Innovations by 92.2% during the 1st quarter. Vanguard Group Inc. now owns 406,293 shares of the financial services provider’s stock worth $6,500,000 after purchasing an additional 194,907 shares in the last quarter. Hedge funds and other institutional investors own 68.00% of the company’s stock.

Health Insurance Innovations (HIIQ) opened at $24.95 on Friday. Health Insurance Innovations has a 12 month low of $12.65 and a 12 month high of $37.38. The company has a market cap of $405.26, a P/E ratio of 20.97 and a beta of 0.65.

Health Insurance Innovations declared that its board has initiated a stock buyback program on Monday, October 16th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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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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