Health Insurance Innovations (HIIQ) Downgraded by BidaskClub

BidaskClub downgraded shares of Health Insurance Innovations (NASDAQ:HIIQ) from a hold rating to a sell rating in a report released on Wednesday morning.

HIIQ has been the subject of several other reports. Craig Hallum increased their price objective on Health Insurance Innovations from $58.00 to $65.00 and gave the company a buy rating in a report on Tuesday, October 30th. B. Riley increased their price objective on Health Insurance Innovations from $56.00 to $60.00 and gave the company a buy rating in a report on Thursday, September 27th. Cantor Fitzgerald reissued a buy rating and issued a $65.00 price objective on shares of Health Insurance Innovations in a report on Thursday, August 16th. ValuEngine raised Health Insurance Innovations from a buy rating to a strong-buy rating in a report on Tuesday, September 11th. Finally, Lake Street Capital increased their price objective on Health Insurance Innovations from $51.00 to $75.00 and gave the company a buy rating in a report on Tuesday, October 30th. One research analyst has rated the stock with a sell rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Health Insurance Innovations has a consensus rating of Buy and an average target price of $55.62.

HIIQ stock opened at $33.95 on Wednesday. The company has a market capitalization of $575.32 million, a PE ratio of 20.96 and a beta of 0.93. Health Insurance Innovations has a twelve month low of $20.30 and a twelve month high of $63.13.

Health Insurance Innovations (NASDAQ:HIIQ) last posted its quarterly earnings data on Monday, October 29th. The financial services provider reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.02. The business had revenue of $74.00 million during the quarter, compared to the consensus estimate of $73.39 million. Health Insurance Innovations had a return on equity of 20.81% and a net margin of 4.89%. The company’s revenue was up 16.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.46 earnings per share. Sell-side analysts predict that Health Insurance Innovations will post 1.93 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Health Insurance Innovations by 9.3% during the third quarter. Vanguard Group Inc. now owns 545,693 shares of the financial services provider’s stock worth $33,642,000 after purchasing an additional 46,286 shares during the period. B. Riley Wealth Management Inc. acquired a new stake in shares of Health Insurance Innovations during the third quarter worth $294,000. Ashford Capital Management Inc. lifted its holdings in shares of Health Insurance Innovations by 11.2% during the third quarter. Ashford Capital Management Inc. now owns 561,188 shares of the financial services provider’s stock worth $34,597,000 after purchasing an additional 56,663 shares during the period. IndexIQ Advisors LLC lifted its holdings in shares of Health Insurance Innovations by 3.9% during the third quarter. IndexIQ Advisors LLC now owns 78,659 shares of the financial services provider’s stock worth $4,849,000 after purchasing an additional 2,971 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Health Insurance Innovations by 22.3% during the third quarter. Advisors Asset Management Inc. now owns 32,903 shares of the financial services provider’s stock worth $2,028,000 after purchasing an additional 5,993 shares during the period. 89.13% of the stock is owned by hedge funds and other 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 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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