Health Insurance Innovations (HIIQ) Stock Rating Reaffirmed by Cantor Fitzgerald

Health Insurance Innovations (NASDAQ:HIIQ)‘s stock had its “buy” rating reiterated by investment analysts at Cantor Fitzgerald in a note issued to investors on Tuesday. They presently have a $38.00 price objective on the financial services provider’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 39.19% from the company’s current price.

The analysts wrote, “Hopefully, the multi-state regulatory review matter is resolved in the next few months. Management indicated that it is possible that the matter is resolved within the next three to four months as these reviews typically take one to two years. It is difficult for us to determine the exact impact of this review, but the company remains confident that the impact will be limited.””

Other analysts have also issued research reports about the company. ValuEngine lowered Health Insurance Innovations from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. Northland Securities reissued a “buy” rating and set a $37.00 price objective on shares of Health Insurance Innovations in a research note on Tuesday, October 17th. Canaccord Genuity restated a “buy” rating and set a $39.00 target price on shares of Health Insurance Innovations in a report on Monday, October 16th. Zacks Investment Research upgraded Health Insurance Innovations from a “hold” rating to a “strong-buy” rating and set a $24.00 target price for the company in a report on Tuesday, October 17th. Finally, BidaskClub downgraded Health Insurance Innovations from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Health Insurance Innovations has an average rating of “Buy” and an average price target of $30.86.

Health Insurance Innovations (HIIQ) traded up $2.25 during trading hours on Tuesday, hitting $27.30. The stock had a trading volume of 611,158 shares, compared to its average volume of 619,568. The stock has a market capitalization of $393.68, a price-to-earnings ratio of 16.19 and a beta of 0.65. Health Insurance Innovations has a 52-week low of $12.65 and a 52-week high of $37.38.

Health Insurance Innovations (NASDAQ:HIIQ) last released its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.11. The firm had revenue of $63.34 million during the quarter, compared to analyst estimates of $59.30 million. Health Insurance Innovations had a return on equity of 21.32% and a net margin of 5.98%. The business’s quarterly revenue was up 37.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.33 earnings per share. sell-side analysts forecast that Health Insurance Innovations will post 1.39 earnings per share for the current fiscal year.

Health Insurance Innovations declared that its board has initiated a share repurchase program on Monday, October 16th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

In other news, Director Robert S. Murley acquired 5,000 shares of the firm’s stock in a transaction on Friday, December 8th. The stock was acquired at an average price of $22.50 per share, for a total transaction of $112,500.00. Following the completion of the acquisition, the director now owns 39,734 shares in the company, valued at $894,015. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 30.00% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. purchased a new stake in shares of Health Insurance Innovations in the second quarter worth $113,000. Advisors Asset Management Inc. purchased a new stake in shares of Health Insurance Innovations in the third quarter worth $142,000. Nationwide Fund Advisors purchased a new stake in shares of Health Insurance Innovations in the second quarter worth $149,000. Chicago Equity Partners LLC purchased a new stake in shares of Health Insurance Innovations in the third quarter worth $158,000. Finally, First Trust Advisors LP purchased a new stake in shares of Health Insurance Innovations in the third quarter worth $171,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

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About Health Insurance Innovations

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)

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