Wall Street analysts expect that Health Insurance Innovations Inc (NASDAQ:HIIQ) will announce $86.96 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Health Insurance Innovations’ earnings. The highest sales estimate is $89.01 million and the lowest is $83.57 million. Health Insurance Innovations reported sales of $69.49 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 25.1%. The firm is scheduled to report its next quarterly earnings report on Wednesday, February 27th.
On average, analysts expect that Health Insurance Innovations will report full-year sales of $299.78 million for the current fiscal year, with estimates ranging from $297.06 million to $302.50 million. For the next financial year, analysts forecast that the business will post sales of $352.70 million, with estimates ranging from $346.61 million to $360.70 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Health Insurance Innovations.
Health Insurance Innovations (NASDAQ:HIIQ) last posted its earnings results on Monday, October 29th. The financial services provider reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.02. Health Insurance Innovations had a return on equity of 20.81% and a net margin of 4.89%. The company had revenue of $74.00 million during the quarter, compared to the consensus estimate of $73.39 million. During the same quarter last year, the firm earned $0.46 earnings per share. The company’s revenue was up 16.4% on a year-over-year basis.
A number of research firms have recently weighed in on HIIQ. B. Riley lifted their target price on Health Insurance Innovations from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, September 27th. ValuEngine raised Health Insurance Innovations from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 11th. BidaskClub downgraded Health Insurance Innovations from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 4th. TheStreet raised Health Insurance Innovations from a “c” rating to a “b-” rating in a report on Wednesday, October 31st. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $65.00 target price on shares of Health Insurance Innovations in a report on Thursday, August 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $55.62.
Shares of HIIQ traded down $3.80 during midday trading on Wednesday, reaching $30.08. 1,629,600 shares of the stock were exchanged, compared to its average volume of 481,778. Health Insurance Innovations has a twelve month low of $21.20 and a twelve month high of $63.13. The company has a market capitalization of $555.32 million, a P/E ratio of 25.07 and a beta of 0.91.
A number of hedge funds have recently bought and sold shares of HIIQ. Harvest Fund Management Co. Ltd acquired a new position in Health Insurance Innovations in the third quarter valued at about $119,000. Sawtooth Solutions LLC acquired a new position in Health Insurance Innovations in the third quarter valued at about $211,000. Ibex Investors LLC acquired a new position in Health Insurance Innovations in the third quarter valued at about $218,000. Cim LLC acquired a new position in Health Insurance Innovations in the third quarter valued at about $246,000. Finally, Thompson Siegel & Walmsley LLC acquired a new position in Health Insurance Innovations in the second quarter valued at about $259,000. 79.18% of the stock is owned by institutional investors and hedge funds.
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 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.
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.