Health Insurance Innovations (NASDAQ:HIIQ) Upgraded to “Buy” by BidaskClub

BidaskClub upgraded shares of Health Insurance Innovations (NASDAQ:HIIQ) from a hold rating to a buy rating in a research report report published on Saturday morning, BidAskClub reports.

Other equities analysts have also issued research reports about the stock. Craig Hallum decreased their price target on shares of Health Insurance Innovations from $65.00 to $50.00 and set a buy rating for the company in a report on Tuesday, August 6th. Lake Street Capital decreased their price target on shares of Health Insurance Innovations from $50.00 to $40.00 and set a buy rating for the company in a report on Tuesday, August 6th. Raymond James decreased their price target on shares of Health Insurance Innovations from $50.00 to $40.00 and set an outperform rating for the company in a report on Monday, October 14th. Zacks Investment Research raised shares of Health Insurance Innovations from a hold rating to a buy rating and set a $24.00 price target for the company in a report on Saturday, August 10th. Finally, ValuEngine raised shares of Health Insurance Innovations from a sell rating to a hold rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $49.88.

HIIQ opened at $25.17 on Friday. The company has a fifty day moving average price of $23.02 and a two-hundred day moving average price of $23.37. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.99 and a current ratio of 0.99. Health Insurance Innovations has a 52 week low of $16.25 and a 52 week high of $51.83. The firm has a market capitalization of $374.69 million, a PE ratio of 13.68 and a beta of 1.40.

Health Insurance Innovations (NASDAQ:HIIQ) last released its earnings results on Monday, August 5th. The financial services provider reported $0.71 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $76.76 million. During the same quarter in the previous year, the business earned $0.53 EPS. The business’s quarterly revenue was down 18.7% compared to the same quarter last year. Equities analysts forecast that Health Insurance Innovations will post 3.54 EPS for the current year.

Hedge funds have recently made changes to their positions in the company. Sanders Morris Harris LLC purchased a new stake in shares of Health Insurance Innovations in the second quarter valued at approximately $372,000. OLD Second National Bank of Aurora boosted its stake in shares of Health Insurance Innovations by 44.9% in the second quarter. OLD Second National Bank of Aurora now owns 3,741 shares of the financial services provider’s stock valued at $97,000 after buying an additional 1,159 shares in the last quarter. Clear Harbor Asset Management LLC purchased a new stake in shares of Health Insurance Innovations in the second quarter valued at approximately $981,000. CAPROCK Group Inc. boosted its stake in shares of Health Insurance Innovations by 5.2% in the second quarter. CAPROCK Group Inc. now owns 62,000 shares of the financial services provider’s stock valued at $1,607,000 after buying an additional 3,060 shares in the last quarter. Finally, Aperio Group LLC purchased a new stake in shares of Health Insurance Innovations in the second quarter valued at approximately $29,000. 98.78% of the stock is owned by institutional investors.

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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