Health Insurance Innovations (HIIQ) Given New $75.00 Price Target at Lake Street Capital

Health Insurance Innovations (NASDAQ:HIIQ) had its target price upped by investment analysts at Lake Street Capital from $51.00 to $75.00 in a report released on Tuesday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the financial services provider’s stock. Lake Street Capital’s price target suggests a potential upside of 53.37% from the company’s previous close.

A number of other research firms have also recently commented on HIIQ. BidaskClub cut shares of Health Insurance Innovations from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 4th. B. Riley raised their price objective on shares of Health Insurance Innovations from $45.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, August 7th. ValuEngine lowered shares of Health Insurance Innovations from a “buy” rating to a “hold” rating in a report on Saturday, July 14th. Zacks Investment Research upgraded shares of Health Insurance Innovations from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a report on Tuesday, July 31st. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $60.00 price objective on shares of Health Insurance Innovations in a report on Monday, July 30th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Health Insurance Innovations has a consensus rating of “Buy” and a consensus target price of $55.62.

HIIQ stock opened at $48.90 on Tuesday. The stock has a market capitalization of $719.15 million, a PE ratio of 40.75 and a beta of 0.54. Health Insurance Innovations has a 12 month low of $19.40 and a 12 month high of $63.13.

Health Insurance Innovations (NASDAQ:HIIQ) last posted its earnings results on Monday, October 29th. The financial services provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.02. The firm had revenue of $74.00 million during the quarter, compared to analysts’ expectations of $73.39 million. Health Insurance Innovations had a net margin of 4.89% and a return on equity of 20.56%. The business’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 earnings per share. On average, equities research analysts forecast that Health Insurance Innovations will post 1.97 EPS for the current fiscal year.

In other Health Insurance Innovations news, insider Sheldon Wang sold 6,593 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $43.33, for a total transaction of $285,674.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO of HealthPocket, Inc. division Bruce Telkamp sold 7,517 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $43.20, for a total transaction of $324,734.40. The disclosure for this sale can be found here. 55.94% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Vident Investment Advisory LLC raised its holdings in Health Insurance Innovations by 8.0% during the 2nd quarter. Vident Investment Advisory LLC now owns 18,935 shares of the financial services provider’s stock worth $613,000 after purchasing an additional 1,409 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in Health Insurance Innovations during the 3rd quarter worth approximately $119,000. Globeflex Capital L P raised its holdings in Health Insurance Innovations by 14.3% during the 2nd quarter. Globeflex Capital L P now owns 16,000 shares of the financial services provider’s stock worth $518,000 after purchasing an additional 2,000 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Health Insurance Innovations by 3.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 61,727 shares of the financial services provider’s stock worth $1,997,000 after purchasing an additional 2,046 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Health Insurance Innovations by 1.6% during the 1st quarter. Northern Trust Corp now owns 135,265 shares of the financial services provider’s stock worth $3,909,000 after purchasing an additional 2,175 shares during the last quarter. Hedge funds and other institutional investors own 87.32% 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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