Health Insurance Innovations (HIIQ) Cut to “Buy” at BidaskClub

BidaskClub downgraded shares of Health Insurance Innovations (NASDAQ:HIIQ) from a strong-buy rating to a buy rating in a research report released on Thursday.

HIIQ has been the subject of a number of other research reports. B. Riley raised their target price on shares of Health Insurance Innovations from $56.00 to $60.00 and gave the company a buy rating in a research report on Thursday, September 27th. Canaccord Genuity reaffirmed a buy rating and issued a $62.00 target price (up previously from $55.00) on shares of Health Insurance Innovations in a research report on Thursday, August 2nd. Cantor Fitzgerald reaffirmed a buy rating on shares of Health Insurance Innovations in a research report on Friday, June 8th. ValuEngine downgraded shares of Health Insurance Innovations from a buy rating to a hold rating in a research report on Wednesday, June 27th. Finally, Zacks Investment Research raised shares of Health Insurance Innovations from a hold rating to a buy rating and set a $36.00 target price for the company in a research report on Tuesday, July 31st. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Health Insurance Innovations currently has a consensus rating of Buy and an average target price of $47.51.

Shares of HIIQ stock opened at $56.93 on Thursday. Health Insurance Innovations has a 12-month low of $15.95 and a 12-month high of $63.13. The firm has a market cap of $1.03 billion, a PE ratio of 47.44 and a beta of 0.54.

Health Insurance Innovations (NASDAQ:HIIQ) last issued its quarterly earnings data on Wednesday, August 1st. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.03. Health Insurance Innovations had a net margin of 5.39% and a return on equity of 19.43%. The company had revenue of $71.70 million during the quarter, compared to the consensus estimate of $70.51 million. During the same quarter in the prior year, the firm earned $0.46 earnings per share. The firm’s revenue was up 16.0% compared to the same quarter last year. On average, research analysts expect that Health Insurance Innovations will post 2.06 EPS for the current fiscal year.

In other Health Insurance Innovations news, CEO of HealthPocket, Inc. division Bruce Telkamp sold 7,517 shares of the stock in a transaction on Monday, August 6th. The shares were sold at an average price of $43.20, for a total value of $324,734.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sheldon Wang sold 6,593 shares of the stock in a transaction on Monday, August 6th. The shares were sold at an average price of $43.33, for a total transaction of $285,674.69. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,110 shares of company stock valued at $980,909. 55.94% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in HIIQ. P2 Capital Partners LLC acquired a new stake in Health Insurance Innovations in the first quarter valued at $18,352,000. Point72 Asset Management L.P. acquired a new stake in Health Insurance Innovations in the second quarter valued at $7,759,000. Peregrine Capital Management LLC acquired a new stake in Health Insurance Innovations in the second quarter valued at $7,525,000. American Century Companies Inc. lifted its stake in Health Insurance Innovations by 1,809.1% in the second quarter. American Century Companies Inc. now owns 211,507 shares of the financial services provider’s stock valued at $6,842,000 after acquiring an additional 200,428 shares during the last quarter. Finally, Argent Capital Management LLC lifted its stake in Health Insurance Innovations by 170.9% in the second quarter. Argent Capital Management LLC now owns 127,700 shares of the financial services provider’s stock valued at $4,131,000 after acquiring an additional 80,555 shares during the last quarter. Hedge funds and other institutional investors own 86.89% of the company’s stock.

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 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.

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Analyst Recommendations for Health Insurance Innovations (NASDAQ:HIIQ)

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