Equities research analysts expect Health Insurance Innovations Inc (NASDAQ:HIIQ) to report sales of $85.73 million for the current quarter, Zacks reports. Three analysts have issued estimates for Health Insurance Innovations’ earnings, with estimates ranging from $80.97 million to $89.01 million. Health Insurance Innovations posted sales of $69.49 million during the same quarter last year, which suggests a positive year-over-year growth rate of 23.4%. The company is scheduled to issue its next earnings report on Wednesday, February 27th.
On average, analysts expect that Health Insurance Innovations will report full year sales of $299.22 million for the current fiscal year, with estimates ranging from $294.46 million to $302.50 million. For the next year, analysts forecast that the company will post sales of $353.30 million, with estimates ranging from $346.61 million to $362.50 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Health Insurance Innovations.
Health Insurance Innovations (NASDAQ:HIIQ) last issued its earnings results on Monday, October 29th. The financial services provider reported $0.61 EPS for the quarter, beating the Zacks’ 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 company had revenue of $74.00 million during the quarter, compared to the consensus estimate of $73.39 million. During the same period in the previous year, the firm posted $0.46 earnings per share. Health Insurance Innovations’s quarterly revenue was up 16.4% compared to the same quarter last year.
HIIQ has been the subject of a number of research reports. Zacks Investment Research upgraded Health Insurance Innovations from a “strong sell” rating to a “hold” rating in a research note on Friday, January 4th. ValuEngine upgraded Health Insurance Innovations from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Raymond James decreased their target price on Health Insurance Innovations from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, December 14th. B. Riley cut their price target on Health Insurance Innovations to $55.00 and set a “buy” rating on the stock in a report on Friday, December 21st. Finally, BidaskClub cut Health Insurance Innovations from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 4th. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $56.78.
HIIQ stock traded up $1.64 during midday trading on Monday, reaching $37.52. The company had a trading volume of 662,939 shares, compared to its average volume of 579,335. Health Insurance Innovations has a fifty-two week low of $21.20 and a fifty-two week high of $63.13. The company has a market cap of $608.02 million, a P/E ratio of 31.27 and a beta of 1.35.
In other Health Insurance Innovations news, Director Robert S. Murley purchased 6,500 shares of the business’s stock in a transaction dated Monday, December 17th. The shares were bought at an average price of $30.85 per share, with a total value of $200,525.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 55.94% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Supplemental Annuity Collective Trust of NJ bought a new stake in shares of Health Insurance Innovations during the fourth quarter valued at approximately $321,000. State of New Jersey Common Pension Fund D bought a new stake in shares of Health Insurance Innovations during the fourth quarter valued at approximately $12,296,000. New Jersey Better Educational Savings Trust bought a new stake in shares of Health Insurance Innovations during the fourth quarter valued at approximately $267,000. NJ State Employees Deferred Compensation Plan raised its holdings in shares of Health Insurance Innovations by 66.7% during the fourth quarter. NJ State Employees Deferred Compensation Plan now owns 20,000 shares of the financial services provider’s stock valued at $535,000 after buying an additional 8,000 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of Health Insurance Innovations by 664.9% during the fourth quarter. Bank of Montreal Can now owns 11,382 shares of the financial services provider’s stock valued at $304,000 after buying an additional 9,894 shares during the last quarter. 79.20% of the stock is currently 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 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.
Featured Story: What is the return on assets formula?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Health Insurance Innovations Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Health Insurance Innovations and related companies with MarketBeat.com's FREE daily email newsletter.