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?
Get a free copy of the Zacks research report on Health Insurance Innovations (HIIQ)
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.