Health Insurance Innovations, Inc. (NASDAQ:HIIQ) issued an update on its third quarter earnings guidance on Monday morning. The company provided EPS guidance of $0.44-0.46 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.35. The company issued revenue guidance of $62.3-63.3 million, compared to the consensus revenue estimate of $54.98 million.
Shares of Health Insurance Innovations, Inc. (NASDAQ HIIQ) traded down 0.24% on Friday, reaching $20.70. 31,825 shares of the company were exchanged. Health Insurance Innovations, Inc. has a 52 week low of $4.00 and a 52 week high of $37.38. The company’s 50-day moving average is $20.74 and its 200-day moving average is $23.46. The company has a market capitalization of $258.11 million, a price-to-earnings ratio of 16.75 and a beta of 0.51.
Health Insurance Innovations (NASDAQ:HIIQ) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.13. Health Insurance Innovations had a return on equity of 22.89% and a net margin of 5.56%. The business had revenue of $61.80 million during the quarter, compared to analysts’ expectations of $53.69 million. The business’s revenue for the quarter was up 38.9% compared to the same quarter last year. On average, equities analysts expect that Health Insurance Innovations, Inc. will post $1.57 EPS for the current fiscal year.
Health Insurance Innovations announced that its board has approved a stock buyback program on Monday, October 16th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Several equities research analysts have recently commented on the company. ValuEngine cut Health Insurance Innovations from a buy rating to a hold rating in a research note on Monday, August 14th. Zacks Investment Research upgraded Health Insurance Innovations from a hold rating to a buy rating and set a $33.00 price target for the company in a research note on Friday, August 4th. Cantor Fitzgerald restated a buy rating and set a $38.00 price target on shares of Health Insurance Innovations in a research note on Friday, September 1st. Canaccord Genuity reaffirmed a buy rating and set a $39.00 price objective on shares of Health Insurance Innovations in a report on Friday, September 1st. Finally, Craig Hallum reaffirmed a buy rating and set a $38.00 price objective (up previously from $28.00) on shares of Health Insurance Innovations in a report on Thursday, August 3rd. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $30.86.
In other news, insider Sheldon Wang sold 4,530 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $32.73, for a total value of $148,266.90. Following the sale, the insider now directly owns 224,894 shares in the company, valued at $7,360,780.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Bruce Telkamp sold 15,000 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $27.76, for a total value of $416,400.00. Following the completion of the sale, the chief executive officer now owns 45,801 shares in the company, valued at $1,271,435.76. The disclosure for this sale can be found here. Insiders sold 95,077 shares of company stock worth $2,893,758 in the last three months. 30.00% of the stock is owned by corporate insiders.
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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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