Health Insurance Innovations Inc (HIIQ) Earns “Buy” Rating from Canaccord Genuity

Health Insurance Innovations Inc (NASDAQ:HIIQ)‘s stock had its “buy” rating reaffirmed by equities researchers at Canaccord Genuity in a note issued to investors on Monday. They currently have a $39.00 price target on the financial services provider’s stock. Canaccord Genuity’s price objective indicates a potential upside of 85.05% from the stock’s current price.

The analysts wrote, “Date and time of first dissemination: October 16, 2017, 09:40 ET Date and time of production: October 16, 2017, 09:40 ET Target Price / Valuation Methodology: Health Insurance Innovations – HIIQ Our $39 PT is based on an 12.6x target multiple on our 2018 adj. EBITDA estimate. Our target multiple is a 25% discount to a peer group of non-provider health and insurance related technology companies.””

Other research analysts also recently issued reports about the stock. 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 report on Thursday, August 3rd. ValuEngine downgraded shares of Health Insurance Innovations from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. Zacks Investment Research downgraded shares of Health Insurance Innovations from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Health Insurance Innovations in a research report on Monday, June 26th. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $38.00 price objective on shares of Health Insurance Innovations in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $31.33.

Health Insurance Innovations (HIIQ) traded up 11.64% on Monday, reaching $21.10. 3,212,335 shares of the company’s stock were exchanged. The firm has a market capitalization of $263.10 million, a price-to-earnings ratio of 17.07 and a beta of 0.53. The stock’s 50 day moving average price is $22.88 and its 200 day moving average price is $23.20. Health Insurance Innovations has a 1-year low of $4.00 and a 1-year high of $37.38.

Health Insurance Innovations (NASDAQ:HIIQ) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.13. Health Insurance Innovations had a net margin of 11.25% and a return on equity of 23.82%. The company had revenue of $61.80 million for the quarter, compared to the consensus estimate of $53.69 million. Health Insurance Innovations’s revenue was up 38.9% on a year-over-year basis. On average, analysts expect that Health Insurance Innovations will post $1.53 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: “Health Insurance Innovations Inc (HIIQ) Earns “Buy” Rating from Canaccord Genuity” was published by Markets Daily and is the property of of Markets Daily. If you are accessing this report on another publication, it was illegally copied and reposted in violation of U.S. & international copyright & trademark laws. The original version of this report can be read at https://www.themarketsdaily.com/2017/10/17/health-insurance-innovations-inc-hiiq-earns-buy-rating-from-canaccord-genuity.html.

In other news, Director Robert S. Murley acquired 3,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were purchased at an average cost of $30.21 per share, for a total transaction of $90,630.00. Following the transaction, the director now directly owns 34,734 shares in the company, valued at approximately $1,049,314.14. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Bruce Telkamp sold 30,000 shares of Health Insurance Innovations stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $28.30, for a total transaction of $849,000.00. Following the completion of the sale, the chief executive officer now owns 74,001 shares in the company, valued at $2,094,228.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 170,077 shares of company stock worth $4,959,558. 30.00% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Morgan Stanley lifted its position in Health Insurance Innovations by 240.2% in the 1st quarter. Morgan Stanley now owns 70,397 shares of the financial services provider’s stock valued at $1,127,000 after purchasing an additional 49,703 shares during the last quarter. Argent Capital Management LLC increased its stake in Health Insurance Innovations by 34.5% during the 2nd quarter. Argent Capital Management LLC now owns 175,975 shares of the financial services provider’s stock valued at $4,135,000 after buying an additional 45,100 shares during the period. Tudor Investment Corp ET AL acquired a new position in Health Insurance Innovations during the 1st quarter valued at about $648,000. Granite Point Capital Management L.P. increased its stake in Health Insurance Innovations by 8.8% during the 2nd quarter. Granite Point Capital Management L.P. now owns 87,900 shares of the financial services provider’s stock valued at $2,066,000 after buying an additional 7,100 shares during the period. Finally, Capital World Investors acquired a new position in Health Insurance Innovations during the 2nd quarter valued at about $11,680,000. Hedge funds and other institutional investors own 66.22% of the company’s stock.

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.

Analyst Recommendations for Health Insurance Innovations (NASDAQ:HIIQ)

Receive News & Ratings for Health Insurance Innovations Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Health Insurance Innovations Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply