FY2017 Earnings Forecast for Health Insurance Innovations, Inc. (HIIQ) Issued By Cantor Fitzgerald

Health Insurance Innovations, Inc. (NASDAQ:HIIQ) – Stock analysts at Cantor Fitzgerald raised their FY2017 earnings estimates for Health Insurance Innovations in a report released on Tuesday. Cantor Fitzgerald analyst S. Halper now forecasts that the financial services provider will earn $1.67 per share for the year, up from their prior estimate of $1.50. Cantor Fitzgerald has a “Buy” rating and a $38.00 price objective on the stock. Cantor Fitzgerald also issued estimates for Health Insurance Innovations’ FY2018 earnings at $1.95 EPS.

Health Insurance Innovations (NASDAQ:HIIQ) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.46 earnings per share for the quarter, topping the 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 company had revenue of $61.80 million during the quarter, compared to analysts’ expectations of $53.69 million. Health Insurance Innovations’s quarterly revenue was up 38.9% compared to the same quarter last year.

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Several other brokerages also recently commented on HIIQ. Canaccord Genuity restated a “buy” rating and issued a $39.00 target price (up from $30.00) on shares of Health Insurance Innovations in a research note on Friday, August 4th. ValuEngine upgraded Health Insurance Innovations from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 2nd. Zacks Investment Research downgraded Health Insurance Innovations from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Craig Hallum restated a “buy” rating and issued a $38.00 target price (up from $28.00) on shares of Health Insurance Innovations in a research note on Thursday, August 3rd. Finally, TheStreet downgraded Health Insurance Innovations from a “b-” rating to a “c” rating in a research note on Thursday, September 28th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Health Insurance Innovations presently has a consensus rating of “Buy” and a consensus price target of $30.86.

Shares of Health Insurance Innovations (HIIQ) opened at 22.75 on Thursday. Health Insurance Innovations has a 12-month low of $4.00 and a 12-month high of $37.38. The company’s 50-day moving average price is $22.09 and its 200 day moving average price is $23.28. The company has a market cap of $283.67 million, a price-to-earnings ratio of 18.41 and a beta of 0.51.

Several hedge funds and other institutional investors have recently made changes to their positions in HIIQ. Russell Investments Group Ltd. purchased a new position in shares of Health Insurance Innovations in the 2nd quarter worth approximately $14,467,000. Capital World Investors purchased a new position in shares of Health Insurance Innovations in the 2nd quarter worth approximately $11,680,000. Renaissance Technologies LLC boosted its stake in shares of Health Insurance Innovations by 68.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,010,400 shares of the financial services provider’s stock worth $23,744,000 after buying an additional 410,197 shares during the last quarter. Precept Management LLC boosted its stake in shares of Health Insurance Innovations by 815.2% in the 2nd quarter. Precept Management LLC now owns 302,000 shares of the financial services provider’s stock worth $7,097,000 after buying an additional 269,000 shares during the last quarter. Finally, B. Riley Financial Inc. purchased a new position in shares of Health Insurance Innovations in the 2nd quarter worth approximately $5,875,000. Hedge funds and other institutional investors own 66.22% of the company’s stock.

In related news, Director Robert S. Murley purchased 3,000 shares of the business’s stock in a transaction on Friday, September 1st. The stock was acquired at an average price of $30.21 per share, for a total transaction of $90,630.00. Following the purchase, the director now owns 34,734 shares of the company’s stock, valued at $1,049,314.14. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Sheldon Wang sold 4,530 shares of Health Insurance Innovations stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $32.73, for a total value of $148,266.90. Following the transaction, the insider now owns 224,894 shares of the company’s stock, valued at approximately $7,360,780.62. The disclosure for this sale can be found here. Insiders have sold a total of 140,077 shares of company stock valued at $4,159,158 in the last quarter. Company insiders own 30.00% of the company’s stock.

Health Insurance Innovations declared that its Board of Directors has authorized a share repurchase program on Monday, October 16th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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.

Earnings History and Estimates for Health Insurance Innovations (NASDAQ:HIIQ)

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