Brokerages Set Health Insurance Innovations Inc (NASDAQ:HIIQ) Target Price at $49.88

Health Insurance Innovations Inc (NASDAQ:HIIQ) has earned a consensus rating of “Buy” from the eleven analysts that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $49.88.

HIIQ has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Health Insurance Innovations from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Saturday, August 10th. Craig Hallum reduced their price objective on shares of Health Insurance Innovations from $65.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Raymond James reduced their price objective on shares of Health Insurance Innovations from $50.00 to $40.00 and set an “outperform” rating for the company in a research note on Monday, October 14th. Lake Street Capital reduced their price objective on shares of Health Insurance Innovations from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Finally, BidaskClub upgraded shares of Health Insurance Innovations from a “hold” rating to a “buy” rating in a research note on Saturday.

Shares of NASDAQ HIIQ traded down $0.21 during midday trading on Thursday, hitting $27.24. The company had a trading volume of 244,903 shares, compared to its average volume of 526,157. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.45. Health Insurance Innovations has a twelve month low of $16.25 and a twelve month high of $51.83. The business has a 50-day simple moving average of $22.35 and a two-hundred day simple moving average of $23.36. The firm has a market capitalization of $389.24 million, a price-to-earnings ratio of 14.80 and a beta of 1.40.

Health Insurance Innovations (NASDAQ:HIIQ) last announced its quarterly earnings data on Monday, August 5th. The financial services provider reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.46. Health Insurance Innovations had a net margin of 3.44% and a return on equity of 29.83%. The firm had revenue of $58.36 million during the quarter, compared to analysts’ expectations of $76.76 million. During the same quarter last year, the business earned $0.53 earnings per share. The business’s revenue for the quarter was down 18.7% compared to the same quarter last year. On average, equities analysts forecast that Health Insurance Innovations will post 3.54 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in HIIQ. CenterStar Asset Management LLC acquired a new position in Health Insurance Innovations during the second quarter worth about $27,000. Aperio Group LLC acquired a new position in Health Insurance Innovations during the second quarter worth about $29,000. OLD Second National Bank of Aurora raised its position in Health Insurance Innovations by 44.9% during the second quarter. OLD Second National Bank of Aurora now owns 3,741 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 1,159 shares during the last quarter. Advisory Services Network LLC raised its position in Health Insurance Innovations by 13.4% during the second quarter. Advisory Services Network LLC now owns 4,222 shares of the financial services provider’s stock worth $109,000 after acquiring an additional 500 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new position in Health Insurance Innovations during the second quarter worth about $337,000. Institutional investors own 98.55% of the company’s stock.

About Health Insurance Innovations

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 provide 3 months to 12 months of health insurance coverage with various deductible and copay levels; health benefit insurance plans, which offer fixed cash benefits and additional benefits for procedures and services; and supplemental insurance products, including life insurance policies, dental plans, vision plans, cancer/critical illness plans, deductible and gap protection plans, and pharmacy benefit cards.

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Analyst Recommendations for Health Insurance Innovations (NASDAQ:HIIQ)

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