Health Insurance Innovations, Inc. (NASDAQ:HIIQ) - Research analysts at Cantor Fitzgerald lifted their FY2017 earnings estimates for shares of Health Insurance Innovations in a research report issued to clients and investors on Tuesday. Cantor Fitzgerald analyst S. Halper now expects that the financial services provider will earn $1.50 per share for the year, up from their previous forecast of $1.45. Cantor Fitzgerald currently has a “Overweight” rating and a $35.00 target price on the stock. Cantor Fitzgerald also issued estimates for Health Insurance Innovations’ FY2018 earnings at $1.80 EPS.
Health Insurance Innovations (NASDAQ:HIIQ) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.13. The company had revenue of $61.80 million during the quarter, compared to the consensus estimate of $53.69 million. Health Insurance Innovations had a net margin of 5.56% and a return on equity of 23.92%. Health Insurance Innovations’s revenue was up 38.9% compared to the same quarter last year.
HIIQ has been the topic of several other reports. TheStreet upgraded shares of Health Insurance Innovations from a “c” rating to a “b-” rating in a research note on Monday, May 22nd. UBS AG upgraded shares of Health Insurance Innovations to an “outperform” rating in a research note on Thursday, May 4th. Zacks Investment Research downgraded shares of Health Insurance Innovations from a “buy” rating to a “hold” rating in a research note on Thursday, June 1st. Raymond James Financial, Inc. restated a “market perform” rating on shares of Health Insurance Innovations in a research note on Monday, June 26th. Finally, Craig Hallum restated a “buy” rating and issued a $38.00 price target (up from $28.00) on shares of Health Insurance Innovations in a research note on Thursday, August 3rd. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $30.83.
Health Insurance Innovations (HIIQ) opened at 31.40 on Wednesday. The stock’s 50 day moving average is $25.90 and its 200-day moving average is $20.28. The company has a market capitalization of $362.67 million, a P/E ratio of 25.40 and a beta of 0.68. Health Insurance Innovations has a 12-month low of $3.92 and a 12-month high of $32.95.
In related news, CFO Michael D. Hershberger sold 5,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $23.22, for a total transaction of $116,100.00. Following the completion of the sale, the chief financial officer now owns 105,369 shares of the company’s stock, valued at $2,446,668.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bruce Telkamp sold 30,000 shares of the company’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $26.68, for a total transaction of $800,400.00. Following the sale, the chief executive officer now directly owns 104,001 shares of the company’s stock, valued at approximately $2,774,746.68. The disclosure for this sale can be found here. Insiders have sold 217,804 shares of company stock valued at $5,488,721 in the last ninety days. 30.00% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in Health Insurance Innovations by 11.5% in the first quarter. Bank of New York Mellon Corp now owns 12,270 shares of the financial services provider’s stock valued at $197,000 after buying an additional 1,266 shares in the last quarter. Spark Investment Management LLC boosted its stake in Health Insurance Innovations by 1.5% in the second quarter. Spark Investment Management LLC now owns 145,100 shares of the financial services provider’s stock valued at $3,409,000 after buying an additional 2,200 shares in the last quarter. Acrospire Investment Management LLC boosted its stake in Health Insurance Innovations by 36.8% in the first quarter. Acrospire Investment Management LLC now owns 11,505 shares of the financial services provider’s stock valued at $184,000 after buying an additional 3,094 shares in the last quarter. Cadence Capital Management LLC boosted its stake in Health Insurance Innovations by 5.8% in the second quarter. Cadence Capital Management LLC now owns 67,833 shares of the financial services provider’s stock valued at $1,594,000 after buying an additional 3,690 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in Health Insurance Innovations during the first quarter valued at $118,000. 72.13% of the stock is owned by institutional investors and hedge funds.
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.
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