Health Insurance Innovations Inc (NASDAQ:HIIQ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, May 5th. The brokerage presently has a $22.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 5.52% from the stock’s previous close.
According to Zacks, “Health Insurance Innovations, Inc. operates as a developer and administrator of web-based individual health insurance plans and ancillary products. Its product portfolio consists of short-term medical plans, accident, sickness & hospital medical plans, ancillary insurance, life insurance, lifestyle and discount services. Health Insurance Innovations, Inc. is based in Tampa, Florida. “
A number of other brokerages have also recently weighed in on HIIQ. Raymond James Financial, Inc. upgraded shares of Health Insurance Innovations from a “market perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a report on Thursday, May 4th. TheStreet cut shares of Health Insurance Innovations from a “b-” rating to a “c” rating in a report on Thursday, April 6th. Cantor Fitzgerald assumed coverage on shares of Health Insurance Innovations in a report on Thursday, March 30th. They issued an “overweight” rating and a $30.00 price objective for the company. Canaccord Genuity assumed coverage on shares of Health Insurance Innovations in a report on Monday, March 13th. They set a “buy” rating and a $28.00 price target for the company. Finally, First Analysis assumed coverage on shares of Health Insurance Innovations in a report on Friday, March 3rd. They set an “overweight” rating for the company. Seven equities research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus price target of $24.00.
Shares of Health Insurance Innovations (NASDAQ:HIIQ) traded up 1.71% on Friday, hitting $20.85. The stock had a trading volume of 268,247 shares. Health Insurance Innovations has a 12 month low of $3.72 and a 12 month high of $22.83. The stock has a market cap of $246.38 million, a PE ratio of 18.82 and a beta of 0.67. The company has a 50 day moving average price of $17.74 and a 200-day moving average price of $15.99.
Health Insurance Innovations (NASDAQ:HIIQ) last released its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. The business had revenue of $55.87 million for the quarter, compared to the consensus estimate of $54.18 million. Health Insurance Innovations had a net margin of 2.91% and a return on equity of 16.47%. On average, equities research analysts anticipate that Health Insurance Innovations will post $1.44 earnings per share for the current year.
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In related news, CEO Bruce Telkamp sold 4,750 shares of the company’s stock in a transaction on Monday, April 24th. The shares were sold at an average price of $15.80, for a total value of $75,050.00. Following the completion of the sale, the chief executive officer now owns 101,501 shares in the company, valued at approximately $1,603,715.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael D. Hershberger sold 5,000 shares of the company’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $17.90, for a total transaction of $89,500.00. Following the transaction, the chief financial officer now owns 118,369 shares of the company’s stock, valued at approximately $2,118,805.10. The disclosure for this sale can be found here. Insiders have sold a total of 3,161,901 shares of company stock valued at $42,504,453 in the last 90 days. Insiders own 52.70% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in Health Insurance Innovations by 11.5% in the first quarter. Bank of New York Mellon Corp now owns 12,270 shares of the financial services provider’s stock worth $197,000 after buying an additional 1,266 shares during the period. Acrospire Investment Management LLC boosted its position in Health Insurance Innovations by 36.8% in the first quarter. Acrospire Investment Management LLC now owns 11,505 shares of the financial services provider’s stock worth $184,000 after buying an additional 3,094 shares during the period. Cannell Capital LLC boosted its position in Health Insurance Innovations by 0.4% in the third quarter. Cannell Capital LLC now owns 1,174,962 shares of the financial services provider’s stock worth $6,169,000 after buying an additional 4,343 shares during the period. Bank of Montreal Can bought a new position in Health Insurance Innovations during the first quarter worth $118,000. Finally, Segantii Capital Management Ltd bought a new position in Health Insurance Innovations during the first quarter worth $229,000. 23.18% of the stock is currently 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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