Health Insurance Innovations Inc (NASDAQ:HIIQ)’s share price traded down 8.8% on Friday . The company traded as low as $44.90 and last traded at $46.27. 956,522 shares traded hands during mid-day trading, an increase of 138% from the average session volume of 401,152 shares. The stock had previously closed at $50.74.
A number of equities analysts have recently weighed in on the company. B. Riley boosted their price target on Health Insurance Innovations from $45.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, August 7th. Zacks Investment Research raised Health Insurance Innovations from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a report on Tuesday, July 31st. BidaskClub cut Health Insurance Innovations from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 4th. ValuEngine cut Health Insurance Innovations from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 16th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Health Insurance Innovations in a research report on Monday, July 30th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $55.62.
The stock has a market cap of $776.55 million, a P/E ratio of 38.56 and a beta of 0.93.
Health Insurance Innovations (NASDAQ:HIIQ) last announced its quarterly earnings data on Monday, October 29th. The financial services provider reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.02. The business had revenue of $74.00 million during the quarter, compared to the consensus estimate of $73.39 million. Health Insurance Innovations had a return on equity of 20.81% and a net margin of 4.89%. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.46 earnings per share. Sell-side analysts predict that Health Insurance Innovations Inc will post 1.97 EPS for the current year.
In other Health Insurance Innovations news, insider Sheldon Wang sold 6,593 shares of the business’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $43.33, for a total transaction of $285,674.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO of HealthPocket, Inc. division Bruce Telkamp sold 7,517 shares of the business’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $43.20, for a total value of $324,734.40. The disclosure for this sale can be found here. 55.94% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the business. Harvest Fund Management Co. Ltd purchased a new stake in Health Insurance Innovations during the third quarter valued at about $119,000. Sawtooth Solutions LLC purchased a new stake in Health Insurance Innovations during the third quarter valued at about $211,000. Cim LLC purchased a new stake in Health Insurance Innovations during the third quarter valued at about $246,000. Ladenburg Thalmann Financial Services Inc. purchased a new stake in Health Insurance Innovations during the first quarter valued at about $143,000. Finally, Engineers Gate Manager LP purchased a new stake in Health Insurance Innovations during the third quarter valued at about $333,000. 87.32% of the stock is owned by hedge funds and other institutional investors.
About Health Insurance Innovations (NASDAQ:HIIQ)
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 provides 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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