Wall Street brokerages forecast that Health Insurance Innovations Inc (NASDAQ:HIIQ) will post earnings of $0.81 per share for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Health Insurance Innovations’ earnings, with the lowest EPS estimate coming in at $0.76 and the highest estimate coming in at $0.88. Health Insurance Innovations reported earnings of $0.37 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 118.9%. The firm is expected to report its next earnings results on Wednesday, February 27th.
On average, analysts expect that Health Insurance Innovations will report full-year earnings of $2.55 per share for the current year, with EPS estimates ranging from $2.50 to $2.62. For the next year, analysts anticipate that the company will post earnings of $3.04 per share, with EPS estimates ranging from $2.90 to $3.17. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover Health Insurance Innovations.
Health Insurance Innovations (NASDAQ:HIIQ) last announced its earnings results on Monday, October 29th. The financial services provider reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.02. Health Insurance Innovations had a return on equity of 20.81% and a net margin of 4.89%. The firm had revenue of $74.00 million for the quarter, compared to the consensus estimate of $73.39 million. During the same period in the previous year, the business earned $0.46 EPS. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis.
Several research analysts recently weighed in on HIIQ shares. Zacks Investment Research upgraded Health Insurance Innovations from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 28th. B. Riley boosted their target price on Health Insurance Innovations from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, September 27th. BidaskClub downgraded Health Insurance Innovations from a “buy” rating to a “hold” rating in a research note on Thursday, October 11th. ValuEngine downgraded Health Insurance Innovations from a “buy” rating to a “hold” rating in a research note on Tuesday, November 27th. Finally, Craig Hallum boosted their target price on Health Insurance Innovations from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, October 30th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $55.62.
HIIQ stock traded down $1.57 on Monday, hitting $32.77. 1,042,477 shares of the company’s stock were exchanged, compared to its average volume of 1,032,352. Health Insurance Innovations has a 12-month low of $21.20 and a 12-month high of $63.13. The company has a market cap of $581.93 million, a price-to-earnings ratio of 27.31 and a beta of 0.90.
A number of institutional investors have recently bought and sold shares of the business. Marshall Wace LLP purchased a new stake in Health Insurance Innovations during the 3rd quarter valued at about $18,713,000. Great Lakes Advisors LLC purchased a new stake in Health Insurance Innovations during the 3rd quarter valued at about $5,692,000. Vanguard Group Inc. grew its stake in Health Insurance Innovations by 9.3% during the 3rd quarter. Vanguard Group Inc. now owns 545,693 shares of the financial services provider’s stock valued at $33,642,000 after purchasing an additional 46,286 shares during the last quarter. B. Riley Wealth Management Inc. purchased a new stake in Health Insurance Innovations during the 3rd quarter valued at about $294,000. Finally, Ashford Capital Management Inc. grew its stake in Health Insurance Innovations by 11.2% during the 3rd quarter. Ashford Capital Management Inc. now owns 561,188 shares of the financial services provider’s stock valued at $34,597,000 after purchasing an additional 56,663 shares during the last quarter. Institutional investors and hedge funds own 78.63% 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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