HealthStream (NASDAQ:HSTM) to Repurchase $25.00 million in Stock

HealthStream (NASDAQ:HSTM) declared that its Board of Directors has authorized a stock buyback program on Thursday, May 8th, RTT News reports. The company plans to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

HealthStream Stock Up 2.2 %

NASDAQ:HSTM opened at $27.84 on Friday. HealthStream has a 52 week low of $25.84 and a 52 week high of $34.24. The company has a market capitalization of $849.82 million, a P/E ratio of 42.83, a P/E/G ratio of 4.37 and a beta of 0.50. The stock’s fifty day moving average is $31.76 and its two-hundred day moving average is $31.99.

HealthStream (NASDAQ:HSTM) last posted its quarterly earnings results on Monday, May 5th. The technology company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). HealthStream had a return on equity of 5.67% and a net margin of 6.84%. The firm had revenue of $73.49 million for the quarter, compared to analysts’ expectations of $74.93 million. During the same period in the prior year, the company earned $0.17 earnings per share. Sell-side analysts anticipate that HealthStream will post 0.63 earnings per share for the current fiscal year.

HealthStream Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 19th will be paid a dividend of $0.031 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.45%. HealthStream’s dividend payout ratio (DPR) is presently 18.18%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. William Blair reiterated an “outperform” rating on shares of HealthStream in a research report on Tuesday, February 25th. Canaccord Genuity Group lifted their price target on HealthStream from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, February 26th. Finally, JMP Securities reissued a “market perform” rating on shares of HealthStream in a report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.00.

HealthStream Company Profile

HealthStream, Inc provides Software-as-a-Service (SaaS) based applications for healthcare organizations in the United States. The company’s solutions help healthcare organizations in meeting their ongoing clinical development, talent management, training, education, assessment, competency management, safety and compliance, and scheduling, as well as provider credentialing, privileging, and enrollment needs.