Health Insurance Innovations (HIIQ) Downgraded by ValuEngine

ValuEngine downgraded shares of Health Insurance Innovations (NASDAQ:HIIQ) from a buy rating to a hold rating in a research report released on Wednesday, January 3rd.

Several other equities analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Health Insurance Innovations from a buy rating to a hold rating in a research report on Wednesday, October 11th. Cantor Fitzgerald reissued an overweight rating and issued a $38.00 target price on shares of Health Insurance Innovations in a report on Tuesday, September 12th. Canaccord Genuity set a $39.00 target price on shares of Health Insurance Innovations and gave the company a buy rating in a report on Sunday, November 12th. BidaskClub lowered shares of Health Insurance Innovations from a buy rating to a hold rating in a report on Saturday, December 9th. Finally, TheStreet downgraded shares of Health Insurance Innovations from a b- rating to a c rating in a research note on Thursday, September 28th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $32.67.

Health Insurance Innovations (HIIQ) opened at $25.40 on Wednesday. Health Insurance Innovations has a 1-year low of $12.65 and a 1-year high of $37.38. The company has a market cap of $421.80, a price-to-earnings ratio of 21.34 and a beta of 0.65.

Health Insurance Innovations (NASDAQ:HIIQ) last announced its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.11. The firm had revenue of $63.34 million during the quarter, compared to analysts’ expectations of $59.30 million. Health Insurance Innovations had a net margin of 5.98% and a return on equity of 21.32%. The company’s revenue for the quarter was up 37.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.33 earnings per share. equities research analysts forecast that Health Insurance Innovations will post 1.39 earnings per share for the current fiscal year.

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

In other Health Insurance Innovations news, insider Sheldon Wang sold 10,000 shares of the business’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $25.20, for a total transaction of $252,000.00. Following the completion of the sale, the insider now owns 159,001 shares in the company, valued at approximately $4,006,825.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert S. Murley purchased 5,000 shares of the firm’s stock in a transaction on Friday, December 8th. The shares were acquired at an average price of $22.50 per share, with a total value of $112,500.00. Following the purchase, the director now directly owns 39,734 shares in the company, valued at approximately $894,015. The disclosure for this purchase can be found here. Insiders sold a total of 57,464 shares of company stock worth $1,463,600 in the last 90 days. Corporate insiders own 30.00% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of HIIQ. Vanguard Group Inc. boosted its holdings in Health Insurance Innovations by 92.2% during the 1st quarter. Vanguard Group Inc. now owns 406,293 shares of the financial services provider’s stock worth $6,500,000 after acquiring an additional 194,907 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Health Insurance Innovations by 57.0% in the 1st quarter. Geode Capital Management LLC now owns 62,992 shares of the financial services provider’s stock worth $1,007,000 after buying an additional 22,860 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Health Insurance Innovations by 240.2% in the 1st quarter. Morgan Stanley now owns 70,397 shares of the financial services provider’s stock worth $1,127,000 after buying an additional 49,703 shares during the last quarter. Schwab Charles Investment Management Inc. purchased a new position in shares of Health Insurance Innovations in the 2nd quarter worth about $440,000. Finally, Rhumbline Advisers purchased a new position in shares of Health Insurance Innovations in the 2nd quarter worth about $277,000. 68.00% of the stock is currently owned by hedge funds and other institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Health Insurance Innovations (NASDAQ:HIIQ)

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