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.
WARNING: “FY2017 Earnings Forecast for Health Insurance Innovations, Inc. (HIIQ) Issued By Cantor Fitzgerald” was originally reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this piece of content on another domain, it was copied illegally and republished in violation of U.S. & international copyright laws. The legal version of this piece of content can be accessed at https://www.dispatchtribunal.com/2017/10/28/fy2017-earnings-forecast-for-health-insurance-innovations-inc-hiiq-issued-by-cantor-fitzgerald.html.
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.
Receive News & Ratings for Health Insurance Innovations Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Health Insurance Innovations Inc. and related companies with MarketBeat.com's FREE daily email newsletter.