Health Insurance Innovations (NASDAQ:HIIQ) had its target price cut by investment analysts at Raymond James from $50.00 to $40.00 in a research report issued to clients and investors on Monday, BenzingaRatingsTable reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Raymond James’ price target would indicate a potential upside of 49.45% from the stock’s previous close.
Several other brokerages have also recently issued reports on HIIQ. ValuEngine raised shares of Health Insurance Innovations from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research raised shares of Health Insurance Innovations from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Saturday, August 10th. Lake Street Capital reduced their target price on shares of Health Insurance Innovations from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. BidaskClub raised shares of Health Insurance Innovations from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, Craig Hallum reduced their target price on shares of Health Insurance Innovations from $65.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $49.88.
HIIQ traded up $0.34 during midday trading on Monday, reaching $26.77. 181,018 shares of the company were exchanged, compared to its average volume of 544,691. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.99 and a current ratio of 0.99. Health Insurance Innovations has a one year low of $16.25 and a one year high of $52.19. The stock has a market capitalization of $374.64 million, a P/E ratio of 14.55 and a beta of 1.40. The stock’s 50-day simple moving average is $21.13 and its 200 day simple moving average is $23.40.
Health Insurance Innovations (NASDAQ:HIIQ) last issued its earnings results on Monday, August 5th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.46. Health Insurance Innovations had a return on equity of 29.83% and a net margin of 3.44%. The firm had revenue of $58.36 million for the quarter, compared to analysts’ expectations of $76.76 million. During the same quarter last year, the business earned $0.53 earnings per share. The company’s revenue was down 18.7% compared to the same quarter last year. On average, research analysts anticipate that Health Insurance Innovations will post 3.54 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. White Pine Capital LLC increased its position in shares of Health Insurance Innovations by 12.9% during the 2nd quarter. White Pine Capital LLC now owns 44,120 shares of the financial services provider’s stock worth $1,144,000 after purchasing an additional 5,055 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Health Insurance Innovations in the 2nd quarter worth $413,000. Nuveen Asset Management LLC acquired a new stake in shares of Health Insurance Innovations in the 2nd quarter worth $12,981,000. Connors Investor Services Inc. lifted its stake in shares of Health Insurance Innovations by 60.9% in the second quarter. Connors Investor Services Inc. now owns 105,055 shares of the financial services provider’s stock valued at $2,723,000 after purchasing an additional 39,777 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of Health Insurance Innovations by 573.1% in the second quarter. AQR Capital Management LLC now owns 98,978 shares of the financial services provider’s stock valued at $2,566,000 after purchasing an additional 84,273 shares during the period. 98.55% of the stock is owned by institutional investors.
Health Insurance Innovations Company Profile
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 3 months to 12 months of health insurance coverage with various deductible and copay levels; health benefit insurance plans, which offer fixed cash benefits and additional benefits for procedures and services; and supplemental insurance products, including life insurance policies, dental plans, vision plans, cancer/critical illness plans, deductible and gap protection plans, and pharmacy benefit cards.
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