Canaccord Genuity Group Issues Positive Forecast for HealthStream (NASDAQ:HSTM) Stock Price

HealthStream (NASDAQ:HSTM) had its target price upped by Canaccord Genuity Group from $29.00 to $30.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a hold rating on the technology company’s stock.

A number of other analysts also recently weighed in on HSTM. JMP Securities restated a “market perform” rating on shares of HealthStream in a report on Thursday, February 6th. William Blair reissued an “outperform” rating on shares of HealthStream in a research report on Tuesday. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, HealthStream presently has an average rating of “Moderate Buy” and an average price target of $32.00.

HealthStream Price Performance

NASDAQ HSTM opened at $32.68 on Wednesday. The business has a fifty day moving average price of $32.43 and a two-hundred day moving average price of $30.79. HealthStream has a fifty-two week low of $23.92 and a fifty-two week high of $34.24. The stock has a market capitalization of $993.96 million, a PE ratio of 50.28, a PEG ratio of 4.37 and a beta of 0.39.

HealthStream (NASDAQ:HSTM) last released its earnings results on Monday, February 24th. The technology company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.03. HealthStream had a return on equity of 5.67% and a net margin of 6.84%. The firm had revenue of $74.24 million during the quarter, compared to analysts’ expectations of $73.55 million. During the same period in the prior year, the company earned $0.14 earnings per share. As a group, sell-side analysts expect that HealthStream will post 0.63 earnings per share for the current year.

HealthStream Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be given a $0.031 dividend. This is a boost from HealthStream’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.12 annualized dividend and a yield of 0.38%. HealthStream’s dividend payout ratio (DPR) is presently 18.18%.

Hedge Funds Weigh In On HealthStream

Several large investors have recently added to or reduced their stakes in the business. Polar Asset Management Partners Inc. lifted its position in HealthStream by 62.2% in the 4th quarter. Polar Asset Management Partners Inc. now owns 91,952 shares of the technology company’s stock valued at $2,924,000 after acquiring an additional 35,252 shares in the last quarter. Mackenzie Financial Corp bought a new position in HealthStream in the 4th quarter valued at about $228,000. Squarepoint Ops LLC lifted its position in HealthStream by 13.2% in the 4th quarter. Squarepoint Ops LLC now owns 11,257 shares of the technology company’s stock valued at $358,000 after acquiring an additional 1,316 shares in the last quarter. ProShare Advisors LLC bought a new position in HealthStream in the 4th quarter valued at about $233,000. Finally, Lazard Asset Management LLC lifted its position in HealthStream by 33.2% in the 4th quarter. Lazard Asset Management LLC now owns 32,478 shares of the technology company’s stock valued at $1,031,000 after acquiring an additional 8,090 shares in the last quarter. Institutional investors own 69.58% of the company’s stock.

HealthStream Company Profile

HealthStream, Inc provides Software-as-a-Service (SaaS) based applications for healthcare organizations in the United States. The company’s solutions help healthcare organizations in meeting their ongoing clinical development, talent management, training, education, assessment, competency management, safety and compliance, and scheduling, as well as provider credentialing, privileging, and enrollment needs.