HealthStream (NASDAQ:HSTM) to Repurchase $25.00 million in Stock

HealthStream (NASDAQ:HSTM) declared that its board has authorized a share buyback program on Thursday, May 8th, RTT News reports. The company plans to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

HealthStream Stock Up 2.2 %

NASDAQ HSTM opened at $27.84 on Friday. The stock has a market cap of $849.82 million, a PE ratio of 42.83, a P/E/G ratio of 4.37 and a beta of 0.50. The business has a 50 day moving average price of $31.76 and a two-hundred day moving average price of $31.99. HealthStream has a fifty-two week low of $25.84 and a fifty-two week high of $34.24.

HealthStream (NASDAQ:HSTM) last posted its quarterly earnings data on Monday, May 5th. The technology company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). HealthStream had a net margin of 6.84% and a return on equity of 5.67%. The firm had revenue of $73.49 million during the quarter, compared to analysts’ expectations of $74.93 million. During the same period in the previous year, the company earned $0.17 earnings per share. Sell-side analysts anticipate that HealthStream will post 0.63 EPS for the current fiscal year.

HealthStream Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be paid a $0.031 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.45%. HealthStream’s dividend payout ratio (DPR) is presently 18.18%.

Analyst Ratings Changes

A number of research firms recently issued reports on HSTM. Canaccord Genuity Group increased their target price on shares of HealthStream from $29.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, February 26th. JMP Securities reissued a “market perform” rating on shares of HealthStream in a research report on Thursday, February 6th. Finally, William Blair restated an “outperform” rating on shares of HealthStream in a report on Tuesday, February 25th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, HealthStream currently has an average rating of “Moderate Buy” and a consensus target price of $32.00.

About HealthStream

HealthStream, Inc provides Software-as-a-Service (SaaS) based applications for healthcare organizations in the United States. The company’s solutions help healthcare organizations in meeting their ongoing clinical development, talent management, training, education, assessment, competency management, safety and compliance, and scheduling, as well as provider credentialing, privileging, and enrollment needs.