Analysts predict that Health Insurance Innovations Inc (NASDAQ:HIIQ) will report sales of $86.96 million for the current quarter, according to Zacks. Three analysts have made estimates for Health Insurance Innovations’ earnings, with the highest sales estimate coming in at $89.01 million and the lowest estimate coming in at $83.57 million. Health Insurance Innovations reported sales of $69.49 million in the same quarter last year, which indicates a positive year-over-year growth rate of 25.1%. The company is scheduled to issue its next earnings report on Wednesday, February 27th.
On average, analysts expect that Health Insurance Innovations will report full year sales of $299.78 million for the current fiscal year, with estimates ranging from $297.06 million to $302.50 million. For the next financial year, analysts anticipate that the company will post sales of $352.70 million, with estimates ranging from $346.61 million to $360.70 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Health Insurance Innovations.
Health Insurance Innovations (NASDAQ:HIIQ) last issued its earnings results on Monday, October 29th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.02. Health Insurance Innovations had a net margin of 4.89% and a return on equity of 20.81%. The company had revenue of $74.00 million during the quarter, compared to analysts’ expectations of $73.39 million. During the same period last year, the company posted $0.46 earnings per share. The firm’s quarterly revenue was up 16.4% compared to the same quarter last year.
HIIQ has been the subject of a number of recent research reports. Craig Hallum raised their price objective on shares of Health Insurance Innovations from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, October 30th. B. Riley raised their price objective on shares of Health Insurance Innovations from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, September 27th. BidaskClub cut shares of Health Insurance Innovations from a “buy” rating to a “hold” rating in a research note on Thursday, October 11th. Cantor Fitzgerald reissued a “buy” rating and set a $65.00 price objective on shares of Health Insurance Innovations in a research note on Thursday, August 16th. Finally, ValuEngine raised shares of Health Insurance Innovations from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 11th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Health Insurance Innovations has a consensus rating of “Buy” and an average target price of $55.62.
Health Insurance Innovations stock traded down $1.57 during mid-day trading on Wednesday, reaching $32.77. The company had a trading volume of 1,042,477 shares, compared to its average volume of 1,032,352. Health Insurance Innovations has a 1 year low of $21.20 and a 1 year high of $63.13. The stock has a market cap of $581.93 million, a PE ratio of 27.31 and a beta of 0.90.
Several institutional investors and hedge funds have recently modified their holdings of HIIQ. Marshall Wace LLP purchased a new stake in Health Insurance Innovations in the 3rd quarter worth approximately $18,713,000. Great Lakes Advisors LLC purchased a new stake in Health Insurance Innovations in the 3rd quarter worth approximately $5,692,000. Vanguard Group Inc. grew its stake in Health Insurance Innovations by 9.3% in the 3rd quarter. Vanguard Group Inc. now owns 545,693 shares of the financial services provider’s stock worth $33,642,000 after acquiring an additional 46,286 shares during the period. B. Riley Wealth Management Inc. purchased a new stake in Health Insurance Innovations in the 3rd quarter worth approximately $294,000. Finally, Ashford Capital Management Inc. grew its stake in Health Insurance Innovations by 11.2% in the 3rd quarter. Ashford Capital Management Inc. now owns 561,188 shares of the financial services provider’s stock worth $34,597,000 after acquiring an additional 56,663 shares during the period. 78.63% of the stock is owned by institutional investors and hedge funds.
About Health Insurance Innovations
Health Insurance Innovations, Inc operates as a cloud-based technology platform and distributor of individual and family health insurance plans, and supplemental products in the United States. It offers short-term medical plans that provides three months of health insurance coverage with various deductible and copay levels; health benefit insurance plans, which offer daily cash benefit for hospital treatment and doctor office visits, as well as accidental injury and death or dismemberment benefits; and supplemental insurance products, including pharmacy benefit cards, dental plans, vision plans, cancer/critical illness plans, deductible and gap protection plans, and life insurance policies.
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