Brokerages forecast that Health Insurance Innovations Inc (NASDAQ:HIIQ) will post $0.77 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Health Insurance Innovations’ earnings, with the highest EPS estimate coming in at $0.88 and the lowest estimate coming in at $0.71. Health Insurance Innovations reported earnings of $0.37 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 108.1%. The business is expected to report its next quarterly earnings report on Wednesday, February 27th.
On average, analysts expect that Health Insurance Innovations will report full year earnings of $2.50 per share for the current fiscal year, with EPS estimates ranging from $2.45 to $2.62. For the next year, analysts anticipate that the firm will post earnings of $3.01 per share, with EPS estimates ranging from $2.90 to $3.17. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Health Insurance Innovations.
HIIQ has been the subject of several research reports. ValuEngine cut shares of Health Insurance Innovations from a “hold” rating to a “sell” rating in a research report on Wednesday, December 12th. Zacks Investment Research raised shares of Health Insurance Innovations from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 28th. BidaskClub raised shares of Health Insurance Innovations from a “sell” rating to a “hold” rating in a research note on Thursday, January 10th. Raymond James reduced their target price on shares of Health Insurance Innovations from $60.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, December 14th. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $65.00 price objective on shares of Health Insurance Innovations in a research note on Friday, November 16th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Health Insurance Innovations presently has an average rating of “Buy” and a consensus price target of $56.78.
Several large investors have recently added to or reduced their stakes in HIIQ. Meeder Asset Management Inc. increased its holdings in shares of Health Insurance Innovations by 220.3% in the fourth quarter. Meeder Asset Management Inc. now owns 2,841 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 1,954 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Health Insurance Innovations by 328.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,310 shares of the financial services provider’s stock valued at $88,000 after purchasing an additional 2,538 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Health Insurance Innovations in the third quarter valued at $119,000. Sawtooth Solutions LLC acquired a new position in shares of Health Insurance Innovations in the third quarter valued at $211,000. Finally, Ibex Investors LLC acquired a new position in shares of Health Insurance Innovations in the third quarter valued at $218,000. Hedge funds and other institutional investors own 86.04% of the company’s stock.
Shares of Health Insurance Innovations stock opened at $38.93 on Monday. The stock has a market cap of $659.71 million, a P/E ratio of 32.44 and a beta of 1.81. Health Insurance Innovations has a 12-month low of $21.20 and a 12-month high of $63.13.
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 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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