Health Insurance Innovations (NASDAQ:HIIQ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The firm presently has a $39.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 3.07% from the company’s current price.
According to Zacks, “Health Insurance Innovations, Inc. operates as a developer and administrator of web-based individual health insurance plans and ancillary products. Its product portfolio consists of short-term medical plans, accident, sickness & hospital medical plans, ancillary insurance, life insurance, lifestyle and discount services. Health Insurance Innovations, Inc. is based in Tampa, Florida. “
Other equities analysts have also recently issued reports about the stock. Cantor Fitzgerald reissued a “buy” rating and issued a $65.00 target price on shares of Health Insurance Innovations in a research note on Friday, November 16th. B. Riley decreased their target price on shares of Health Insurance Innovations to $55.00 and set a “buy” rating for the company in a research note on Friday, December 21st. BidaskClub raised shares of Health Insurance Innovations from a “hold” rating to a “buy” rating in a research note on Friday, January 25th. ValuEngine raised shares of Health Insurance Innovations from a “hold” rating to a “buy” rating in a research note on Saturday, January 19th. Finally, Lake Street Capital raised their target price on shares of Health Insurance Innovations to $80.00 and gave the company a “buy” rating in a research note on Thursday. Two 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 stock. The company presently has an average rating of “Buy” and an average target price of $58.88.
Health Insurance Innovations (NASDAQ:HIIQ) last released its earnings results on Wednesday, March 6th. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.21. Health Insurance Innovations had a net margin of 4.89% and a return on equity of 20.81%. The business had revenue of $131.90 million during the quarter, compared to analysts’ expectations of $83.12 million. During the same period last year, the business earned $0.37 earnings per share. The firm’s revenue was up 89.8% on a year-over-year basis. Research analysts predict that Health Insurance Innovations will post 2.36 EPS for the current year.
In other Health Insurance Innovations news, CEO Gavin Southwell sold 65,899 shares of Health Insurance Innovations stock in a transaction on Monday, February 4th. The shares were sold at an average price of $40.31, for a total transaction of $2,656,388.69. Following the completion of the transaction, the chief executive officer now directly owns 609,723 shares of the company’s stock, valued at $24,577,934.13. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert S. Murley acquired 6,500 shares of Health Insurance Innovations stock in a transaction on Monday, December 17th. The shares were bought at an average cost of $30.85 per share, with a total value of $200,525.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 117,666 shares of company stock valued at $4,739,789. Company insiders own 55.94% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in Health Insurance Innovations by 28.7% during the fourth quarter. Geode Capital Management LLC now owns 224,253 shares of the financial services provider’s stock worth $5,994,000 after purchasing an additional 50,018 shares during the period. Millennium Management LLC bought a new position in Health Insurance Innovations during the fourth quarter worth $11,197,000. Macquarie Group Ltd. boosted its position in Health Insurance Innovations by 196.3% during the fourth quarter. Macquarie Group Ltd. now owns 3,556 shares of the financial services provider’s stock worth $95,000 after purchasing an additional 2,356 shares during the period. Voloridge Investment Management LLC bought a new position in Health Insurance Innovations during the fourth quarter worth $1,413,000. Finally, Metropolitan Life Insurance Co. NY boosted its position in Health Insurance Innovations by 366.5% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,203 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 3,302 shares during the period. 86.53% of the stock is owned by hedge funds and other institutional investors.
About Health Insurance Innovations
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 provide 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.
Featured Story: Net Asset Value
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Health Insurance Innovations Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Health Insurance Innovations and related companies with MarketBeat.com's FREE daily email newsletter.