Health Insurance Innovations Inc (HIIQ) Expected to Announce Earnings of $0.60 Per Share

Equities research analysts expect Health Insurance Innovations Inc (NASDAQ:HIIQ) to report earnings per share of $0.60 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Health Insurance Innovations’ earnings. The highest EPS estimate is $0.63 and the lowest is $0.57. Health Insurance Innovations reported earnings of $0.46 per share during the same quarter last year, which indicates a positive year over year growth rate of 30.4%. The business is scheduled to issue its next earnings report on Wednesday, November 7th.

On average, analysts expect that Health Insurance Innovations will report full-year earnings of $2.48 per share for the current financial year, with EPS estimates ranging from $2.40 to $2.55. For the next year, analysts anticipate that the business will report earnings of $2.91 per share, with EPS estimates ranging from $2.75 to $3.05. Zacks’ EPS calculations are an average based on a survey of analysts that cover Health Insurance Innovations.

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 for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.03. The company had revenue of $71.70 million for the quarter, compared to analysts’ expectations of $70.51 million. Health Insurance Innovations had a return on equity of 19.43% and a net margin of 5.39%. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.46 earnings per share.

HIIQ has been the topic of a number of analyst reports. ValuEngine cut Health Insurance Innovations from a “buy” rating to a “hold” rating in a research note on Wednesday, June 27th. BidaskClub cut Health Insurance Innovations from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 4th. B. Riley upped their target price on Health Insurance Innovations from $45.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, August 7th. Zacks Investment Research raised Health Insurance Innovations from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Tuesday, July 31st. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $60.00 target price on shares of Health Insurance Innovations in a research note on Monday, July 30th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Health Insurance Innovations currently has an average rating of “Buy” and an average price target of $48.83.

HIIQ opened at $48.69 on Tuesday. The company has a market cap of $1.03 billion, a PE ratio of 40.94 and a beta of 0.54. Health Insurance Innovations has a one year low of $18.45 and a one year high of $63.13.

In related news, insider Sheldon Wang sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $37.05, for a total value of $370,500.00. Following the transaction, the insider now owns 38,675 shares of the company’s stock, valued at $1,432,908.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO of HealthPocket, Inc. division Bruce Telkamp sold 7,517 shares of the stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $43.20, for a total value of $324,734.40. The disclosure for this sale can be found here. In the last three months, insiders sold 24,110 shares of company stock worth $980,909. 55.94% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in HIIQ. Point72 Asset Management L.P. bought a new position in Health Insurance Innovations in the second quarter worth approximately $7,759,000. Peregrine Capital Management LLC bought a new position in Health Insurance Innovations in the second quarter worth approximately $7,525,000. American Century Companies Inc. grew 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 worth $6,842,000 after purchasing an additional 200,428 shares in the last quarter. Foundry Partners LLC bought a new position in Health Insurance Innovations in the third quarter worth approximately $9,083,000. Finally, Argent Capital Management LLC lifted its holdings in Health Insurance Innovations by 170.9% during the second quarter. Argent Capital Management LLC now owns 127,700 shares of the financial services provider’s stock worth $4,131,000 after buying an additional 80,555 shares during the period. 86.89% of the stock is currently owned by 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.

Recommended Story: Hedge Funds

Get a free copy of the Zacks research report on Health Insurance Innovations (HIIQ)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Health Insurance Innovations (NASDAQ:HIIQ)

Receive News & Ratings for Health Insurance Innovations Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Health Insurance Innovations and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply