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

BidaskClub upgraded shares of Health Insurance Innovations (NASDAQ:HIIQ) from a hold rating to a buy rating in a research report released on Friday.

HIIQ has been the subject of several other reports. Canaccord Genuity reissued a buy rating and issued a $39.00 price target on shares of Health Insurance Innovations in a report on Wednesday, September 13th. Cantor Fitzgerald reissued a buy rating and issued a $38.00 price target on shares of Health Insurance Innovations in a report on Monday, September 25th. ValuEngine raised Health Insurance Innovations from a buy rating to a strong-buy rating in a report on Monday, October 2nd. TheStreet cut Health Insurance Innovations from a b- rating to a c rating in a report on Thursday, September 28th. Finally, Zacks Investment Research cut Health Insurance Innovations from a buy rating to a hold rating in a report on Wednesday, October 11th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $30.86.

Shares of Health Insurance Innovations (NASDAQ HIIQ) opened at $26.90 on Friday. Health Insurance Innovations has a 1 year low of $12.65 and a 1 year high of $37.38. The firm has a market capitalization of $444.95, a P/E ratio of 18.30 and a beta of 0.65.

Health Insurance Innovations (NASDAQ:HIIQ) last posted its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.11. The company had revenue of $63.34 million during the quarter, compared to analysts’ expectations of $59.30 million. Health Insurance Innovations had a return on equity of 21.32% and a net margin of 5.98%. The firm’s revenue for the quarter was up 37.4% on a year-over-year basis. During the same period last year, the firm earned $0.33 EPS. research analysts predict that Health Insurance Innovations will post 1.39 EPS for the current year.

Health Insurance Innovations declared that its board has authorized a stock repurchase plan on Monday, October 16th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

In other news, Director Robert S. Murley acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was purchased at an average cost of $22.50 per share, with a total value of $112,500.00. Following the purchase, the director now directly owns 39,734 shares of the company’s stock, valued at approximately $894,015. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 30.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HIIQ. PNC Financial Services Group Inc. purchased a new position in Health Insurance Innovations in the 2nd quarter valued at approximately $113,000. Advisors Asset Management Inc. purchased a new position in Health Insurance Innovations in the 3rd quarter valued at approximately $142,000. Nationwide Fund Advisors purchased a new position in Health Insurance Innovations in the 2nd quarter valued at approximately $149,000. Chicago Equity Partners LLC purchased a new position in Health Insurance Innovations in the 3rd quarter valued at approximately $158,000. Finally, First Trust Advisors LP purchased a new position in Health Insurance Innovations in the 3rd quarter valued at approximately $171,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

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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)

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