Zacks: Analysts Anticipate Health Insurance Innovations (HIIQ) Will Announce Earnings of $0.51 Per Share

Analysts expect Health Insurance Innovations (NASDAQ:HIIQ) to announce earnings of $0.51 per share for the current quarter, Zacks reports. Three analysts have issued estimates for Health Insurance Innovations’ earnings, with the highest EPS estimate coming in at $0.57 and the lowest estimate coming in at $0.45. Health Insurance Innovations reported earnings per share of $0.36 in the same quarter last year, which suggests a positive year over year growth rate of 41.7%. The company is expected to report its next earnings results on Wednesday, May 2nd.

On average, analysts expect that Health Insurance Innovations will report full-year earnings of $2.42 per share for the current year, with EPS estimates ranging from $2.10 to $2.56. For the next year, analysts forecast that the firm will post earnings of $2.67 per share, with EPS estimates ranging from $2.35 to $3.00. Zacks’ EPS averages are a mean average based on a survey of analysts that follow Health Insurance Innovations.

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Health Insurance Innovations (NASDAQ:HIIQ) last posted its earnings results on Wednesday, February 28th. The financial services provider reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.03. The firm had revenue of $69.50 million for the quarter, compared to analyst estimates of $59.93 million. Health Insurance Innovations had a return on equity of 21.27% and a net margin of 7.14%. The firm’s quarterly revenue was up 35.2% on a year-over-year basis.

Several research analysts have weighed in on the company. Lake Street Capital lifted their target price on Health Insurance Innovations to $50.00 and gave the stock a “buy” rating in a report on Thursday, March 1st. Canaccord Genuity reiterated a “buy” rating and set a $55.00 target price (up from $39.00) on shares of Health Insurance Innovations in a report on Friday, March 2nd. Craig Hallum reiterated a “buy” rating and set a $45.00 target price (up from $38.00) on shares of Health Insurance Innovations in a report on Thursday, March 1st. UBS upgraded Health Insurance Innovations from a “neutral” rating to an “outperform” rating and set a $38.00 target price on the stock in a report on Thursday, March 1st. Finally, Raymond James Financial upgraded Health Insurance Innovations from a “market perform” rating to an “outperform” rating and set a $34.60 target price on the stock in a report on Thursday, March 1st. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $42.62.

HIIQ stock traded up $0.30 during midday trading on Tuesday, hitting $28.40. 274,615 shares of the company’s stock were exchanged, compared to its average volume of 285,661. The firm has a market cap of $465.67, a PE ratio of 23.67 and a beta of 0.41. Health Insurance Innovations has a one year low of $12.65 and a one year high of $37.38.

In other Health Insurance Innovations news, CEO Bruce Telkamp sold 9,970 shares of Health Insurance Innovations stock in a transaction dated Saturday, September 1st. The stock was sold at an average price of $36.19, for a total value of $360,814.30. Following the sale, the chief executive officer now owns 19,500 shares of the company’s stock, valued at approximately $705,705. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sheldon Wang sold 30,000 shares of Health Insurance Innovations stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $30.49, for a total value of $914,700.00. Following the completion of the sale, the insider now directly owns 94,001 shares in the company, valued at approximately $2,866,090.49. The disclosure for this sale can be found here. Insiders sold a total of 49,970 shares of company stock worth $1,576,014 in the last three months. Company insiders own 30.00% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Teachers Advisors LLC raised its stake in shares of Health Insurance Innovations by 11.1% in the 4th quarter. Teachers Advisors LLC now owns 22,474 shares of the financial services provider’s stock valued at $561,000 after purchasing an additional 2,253 shares during the period. Cadence Capital Management LLC increased its position in shares of Health Insurance Innovations by 7.7% in the fourth quarter. Cadence Capital Management LLC now owns 46,269 shares of the financial services provider’s stock valued at $1,154,000 after acquiring an additional 3,324 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Health Insurance Innovations by 26.3% in the third quarter. Wells Fargo & Company MN now owns 17,591 shares of the financial services provider’s stock valued at $256,000 after acquiring an additional 3,665 shares during the last quarter. BlackRock Inc. increased its position in shares of Health Insurance Innovations by 0.5% in the fourth quarter. BlackRock Inc. now owns 823,596 shares of the financial services provider’s stock valued at $20,548,000 after acquiring an additional 4,154 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Health Insurance Innovations by 8.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 63,851 shares of the financial services provider’s stock valued at $1,594,000 after acquiring an additional 5,009 shares during the last quarter. 79.22% of the stock is currently owned by hedge funds and other institutional investors.

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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 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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