Health Insurance Innovations (NASDAQ:HIIQ) had its price target trimmed by Lake Street Capital from $80.00 to $50.00 in a report released on Tuesday, The Fly reports. The firm currently has a buy rating on the financial services provider’s stock.
Other research analysts have also recently issued reports about the stock. ValuEngine cut shares of Health Insurance Innovations from a sell rating to a strong sell rating in a research report on Saturday, April 13th. BidaskClub upgraded shares of Health Insurance Innovations from a sell rating to a hold rating in a research report on Thursday, January 10th. B. Riley cut shares of Health Insurance Innovations from a buy rating to a neutral rating and reduced their price target for the company from $50.00 to $45.00 in a research report on Wednesday, February 27th. Cantor Fitzgerald reiterated a buy rating and set a $75.00 price target on shares of Health Insurance Innovations in a research report on Thursday, March 28th. Finally, Zacks Investment Research upgraded shares of Health Insurance Innovations from a hold rating to a buy rating and set a $39.00 price target on the stock in a research report on Thursday, March 7th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $56.78.
HIIQ stock opened at $20.32 on Tuesday. The company has a market capitalization of $364.12 million, a P/E ratio of 9.75 and a beta of 1.61. Health Insurance Innovations has a 1-year low of $19.56 and a 1-year high of $63.13.
Health Insurance Innovations (NASDAQ:HIIQ) last posted its quarterly earnings data on Monday, May 6th. The financial services provider reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.08). The company had revenue of $87.33 million during the quarter, compared to the consensus estimate of $83.58 million. Health Insurance Innovations had a return on equity of 28.56% and a net margin of 3.48%. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter last year, the company posted $0.70 earnings per share. On average, analysts anticipate that Health Insurance Innovations will post 2.81 EPS for the current year.
In other Health Insurance Innovations news, Director John Fichthorn purchased 93,742 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was bought at an average price of $29.28 per share, with a total value of $2,744,765.76. Following the completion of the purchase, the director now directly owns 72,869 shares of the company’s stock, valued at approximately $2,133,604.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael D. Hershberger sold 1,074 shares of the firm’s stock in a transaction on Wednesday, February 13th. The stock was sold at an average price of $40.00, for a total value of $42,960.00. The disclosure for this sale can be found here. 47.88% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Brown Advisory Inc. lifted its stake in Health Insurance Innovations by 102.4% in the fourth quarter. Brown Advisory Inc. now owns 21,620 shares of the financial services provider’s stock worth $578,000 after acquiring an additional 10,938 shares during the period. Voloridge Investment Management LLC purchased a new stake in Health Insurance Innovations in the fourth quarter worth $1,413,000. Peregrine Capital Management LLC lifted its stake in Health Insurance Innovations by 33.4% in the fourth quarter. Peregrine Capital Management LLC now owns 263,395 shares of the financial services provider’s stock worth $7,041,000 after acquiring an additional 65,906 shares during the period. Wesbanco Bank Inc. lifted its stake in Health Insurance Innovations by 56.6% in the fourth quarter. Wesbanco Bank Inc. now owns 22,116 shares of the financial services provider’s stock worth $591,000 after acquiring an additional 7,989 shares during the period. Finally, BlackRock Inc. lifted its stake in Health Insurance Innovations by 6.9% in the third quarter. BlackRock Inc. now owns 839,358 shares of the financial services provider’s stock worth $51,745,000 after acquiring an additional 54,419 shares during the period. 98.99% of the stock is owned by institutional investors.
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 provide 3 months to 12 months of health insurance coverage with various deductible and copay levels; health benefit insurance plans, which offer fixed cash benefits and additional benefits for procedures and services; and supplemental insurance products, including life insurance policies, dental plans, vision plans, cancer/critical illness plans, deductible and gap protection plans, and pharmacy benefit cards.
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