Health Insurance Innovations, Inc. (HIIQ) Stock Rating Upgraded by ValuEngine
Health Insurance Innovations, Inc. (NASDAQ:HIIQ) was upgraded by stock analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a report released on Monday.
A number of other equities analysts also recently issued reports on the company. Canaccord Genuity restated a “buy” rating and issued a $39.00 price target on shares of Health Insurance Innovations in a research note on Wednesday, September 13th. Cantor Fitzgerald reiterated a “buy” rating and set a $38.00 price objective on shares of Health Insurance Innovations in a research report on Monday, September 25th. TheStreet cut Health Insurance Innovations from a “b-” rating to a “c” rating in a research report on Thursday, September 28th. Raymond James Financial, Inc. reissued a “market perform” rating on shares of Health Insurance Innovations in a report on Monday, June 26th. Finally, Zacks Investment Research raised Health Insurance Innovations from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Friday, August 4th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $31.33.
Shares of Health Insurance Innovations (HIIQ) opened at 16.30 on Monday. The firm’s 50-day moving average is $26.86 and its 200 day moving average is $23.07. The stock has a market capitalization of $203.24 million, a P/E ratio of 13.19 and a beta of 0.51. Health Insurance Innovations has a 12-month low of $4.00 and a 12-month high of $37.38.
Health Insurance Innovations (NASDAQ:HIIQ) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.13. The business had revenue of $61.80 million during the quarter, compared to the consensus estimate of $53.69 million. Health Insurance Innovations had a net margin of 5.56% and a return on equity of 22.89%. The company’s revenue for the quarter was up 38.9% on a year-over-year basis. On average, equities research analysts forecast that Health Insurance Innovations will post $1.53 EPS for the current fiscal year.
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In related news, Director Robert S. Murley bought 3,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were bought at an average cost of $30.21 per share, with a total value of $90,630.00. Following the acquisition, the director now owns 34,734 shares in the company, valued at $1,049,314.14. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Sheldon Wang sold 4,750 shares of the firm’s stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $25.80, for a total value of $122,550.00. Following the completion of the transaction, the insider now directly owns 224,001 shares in the company, valued at $5,779,225.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 189,827 shares of company stock valued at $5,479,608. Insiders own 30.00% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Morgan Stanley increased its position in Health Insurance Innovations by 240.2% in the first quarter. Morgan Stanley now owns 70,397 shares of the financial services provider’s stock worth $1,127,000 after buying an additional 49,703 shares in the last quarter. Tudor Investment Corp ET AL bought a new position in shares of Health Insurance Innovations during the 1st quarter valued at approximately $648,000. Granite Point Capital Management L.P. grew its stake in shares of Health Insurance Innovations by 8.8% during the 2nd quarter. Granite Point Capital Management L.P. now owns 87,900 shares of the financial services provider’s stock valued at $2,066,000 after acquiring an additional 7,100 shares during the period. Timpani Capital Management LLC bought a new position in shares of Health Insurance Innovations during the 2nd quarter valued at approximately $3,674,000. Finally, Vanguard Group Inc. grew its stake in shares of 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 valued at $6,500,000 after acquiring an additional 194,907 shares during the period. 66.21% of the stock is owned by institutional investors and hedge funds.
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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