Cantor Fitzgerald restated their overweight rating on shares of Health Insurance Innovations, Inc. (NASDAQ:HIIQ) in a research note published on Tuesday. They currently have a $38.00 price target on the financial services provider’s stock.

Several other analysts also recently commented on the stock. ValuEngine upgraded shares of Health Insurance Innovations from a hold rating to a buy rating in a report on Friday, September 1st. Canaccord Genuity reiterated a buy rating and issued a $39.00 target price on shares of Health Insurance Innovations in a report on Friday, September 1st. Zacks Investment Research upgraded shares of Health Insurance Innovations from a hold rating to a buy rating and set a $33.00 target price for the company in a report on Friday, August 4th. Craig Hallum reiterated a buy rating and issued a $38.00 target price (up previously from $28.00) on shares of Health Insurance Innovations in a report on Thursday, August 3rd. Finally, Raymond James Financial, Inc. reiterated a market perform rating on shares of Health Insurance Innovations in a report on Monday, June 26th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Health Insurance Innovations has a consensus rating of Buy and an average target price of $31.33.

Health Insurance Innovations (NASDAQ HIIQ) opened at 19.75 on Tuesday. The firm has a market capitalization of $246.26 million, a price-to-earnings ratio of 15.98 and a beta of 0.65. The stock’s 50 day moving average is $31.42 and its 200 day moving average is $22.75. Health Insurance Innovations has a 1-year low of $4.00 and a 1-year high of $37.38.

Health Insurance Innovations (NASDAQ:HIIQ) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.13. The company had revenue of $61.80 million during the quarter, compared to the consensus estimate of $53.69 million. Health Insurance Innovations had a net margin of 5.56% and a return on equity of 22.89%. The company’s quarterly revenue was up 38.9% on a year-over-year basis. Analysts predict that Health Insurance Innovations will post $1.53 EPS for the current fiscal year.

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In related news, insider Sheldon Wang sold 4,530 shares of the firm’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $32.73, for a total transaction of $148,266.90. Following the completion of the sale, the insider now owns 224,894 shares in the company, valued at $7,360,780.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Bruce Telkamp sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $26.68, for a total transaction of $800,400.00. Following the sale, the chief executive officer now owns 104,001 shares of the company’s stock, valued at approximately $2,774,746.68. The disclosure for this sale can be found here. Insiders have sold 221,248 shares of company stock valued at $6,203,127 in the last 90 days. 30.00% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System purchased a new stake in Health Insurance Innovations during the second quarter worth about $465,000. Argent Capital Management LLC increased its holdings in Health Insurance Innovations by 34.5% during the second quarter. Argent Capital Management LLC now owns 175,975 shares of the financial services provider’s stock worth $4,135,000 after buying an additional 45,100 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Health Insurance Innovations by 7,616.4% during the second quarter. The Manufacturers Life Insurance Company now owns 8,951 shares of the financial services provider’s stock worth $210,000 after buying an additional 8,835 shares during the last quarter. Osterweis Capital Management Inc. purchased a new stake in Health Insurance Innovations during the second quarter worth about $2,838,000. Finally, State Street Corp purchased a new stake in Health Insurance Innovations during the second quarter worth about $3,430,000. Institutional investors and hedge funds own 90.32% of the company’s stock.

Health Insurance Innovations Company Profile

Health Insurance Innovations, Inc is a developer, distributor and cloud-based administrator of individual and family health insurance plans (IFPs) and supplemental products, which include short-term medical (STM) insurance plans, and guaranteed-issue and underwritten hospital indemnity plans. The Company also develops, distributes and administers supplemental products, which include a range of additional insurance and non-insurance products, such as pharmacy benefit cards, dental plans, vision plans, cancer/critical illness plans, deductible and gap protection plans, and life insurance policies that are purchased as supplements to IFP.

Analyst Recommendations for Health Insurance Innovations (NASDAQ:HIIQ)

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