Equities research analysts expect Health Insurance Innovations (NASDAQ:HIIQ) to announce sales of $69.14 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Health Insurance Innovations’ earnings. The lowest sales estimate is $66.50 million and the highest is $71.10 million. Health Insurance Innovations reported sales of $61.78 million in the same quarter last year, which would suggest a positive year over year growth rate of 11.9%. The company is expected to announce its next quarterly earnings report on Wednesday, August 1st.
On average, analysts expect that Health Insurance Innovations will report full-year sales of $297.50 million for the current fiscal year. For the next fiscal year, analysts expect that the business will report sales of $312.98 million per share, with estimates ranging from $300.60 million to $325.35 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Health Insurance Innovations.
Get Health Insurance Innovations alerts:Health Insurance Innovations (NASDAQ:HIIQ) last released its earnings results on Wednesday, May 2nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.02. Health Insurance Innovations had a return on equity of 20.15% and a net margin of 6.17%. The firm had revenue of $67.80 million during the quarter, compared to analysts’ expectations of $68.53 million. During the same quarter last year, the business posted $0.36 earnings per share. The firm’s revenue was up 21.3% on a year-over-year basis.
HIIQ has been the subject of a number of research reports. Zacks Investment Research raised Health Insurance Innovations from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Thursday, January 25th. Craig Hallum reissued a “buy” rating and set a $45.00 price target (up from $38.00) on shares of Health Insurance Innovations in a research note on Thursday, March 1st. ValuEngine lowered Health Insurance Innovations from a “buy” rating to a “hold” rating in a research note on Thursday, February 8th. Raymond James raised Health Insurance Innovations from a “market perform” rating to an “outperform” rating and set a $34.60 price target for the company in a research note on Thursday, March 1st. Finally, B. Riley initiated coverage on Health Insurance Innovations in a research note on Tuesday, February 13th. They set a “buy” rating and a $38.00 price target for the company. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Health Insurance Innovations currently has a consensus rating of “Buy” and a consensus price target of $42.62.
In related news, Director John Fichthorn acquired 5,000 shares of the stock in a transaction dated Friday, May 4th. The stock was acquired at an average cost of $26.64 per share, with a total value of $133,200.00. Following the purchase, the director now directly owns 3,000 shares of the company’s stock, valued at $79,920. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Anthony Barkett acquired 13,574 shares of the stock in a transaction dated Saturday, September 15th. The stock was bought at an average cost of $22.00 per share, with a total value of $298,628.00. Following the completion of the purchase, the director now directly owns 6,512 shares in the company, valued at $143,264. The disclosure for this purchase can be found here. Insiders bought a total of 27,683 shares of company stock valued at $566,562 over the last ninety days. Corporate insiders own 55.94% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Bowling Portfolio Management LLC bought a new stake in shares of Health Insurance Innovations during the 4th quarter worth approximately $2,608,000. Ashford Capital Management Inc. bought a new stake in shares of Health Insurance Innovations during the 4th quarter worth approximately $2,430,000. Teachers Advisors LLC lifted its stake in shares of Health Insurance Innovations by 11.1% during the 4th quarter. Teachers Advisors LLC now owns 22,474 shares of the financial services provider’s stock worth $561,000 after acquiring an additional 2,253 shares during the last quarter. Two Sigma Advisers LP lifted its stake in shares of Health Insurance Innovations by 27.5% during the 4th quarter. Two Sigma Advisers LP now owns 61,700 shares of the financial services provider’s stock worth $1,539,000 after acquiring an additional 13,298 shares during the last quarter. Finally, CAS Investment Partners LLC bought a new stake in shares of Health Insurance Innovations during the 4th quarter worth approximately $18,717,000. 72.35% of the stock is owned by hedge funds and other institutional investors.
Health Insurance Innovations stock traded up $1.95 during midday trading on Wednesday, reaching $31.05. 803,546 shares of the stock traded hands, compared to its average volume of 403,193. Health Insurance Innovations has a 12 month low of $12.65 and a 12 month high of $37.38. The firm has a market cap of $487.60 million, a PE ratio of 25.88 and a beta of 0.43.
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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