Canaccord Genuity reiterated their buy rating on shares of Health Insurance Innovations, Inc. (NASDAQ:HIIQ) in a research report report published on Wednesday morning. The brokerage currently has a $39.00 price objective on the financial services provider’s stock.

A number of other research firms have also recently commented on HIIQ. TheStreet raised shares of Health Insurance Innovations from a c rating to a b- rating in a research report on Monday, May 22nd. Zacks Investment Research lowered shares of Health Insurance Innovations from a buy rating to a hold rating in a research note on Thursday, June 1st. Craig Hallum started coverage on shares of Health Insurance Innovations in a research note on Monday, June 12th. They set a buy rating and a $28.00 price target on the stock. Raymond James Financial, Inc. reiterated a market perform rating on shares of Health Insurance Innovations in a research note on Monday, June 26th. Finally, Cantor Fitzgerald reiterated an overweight rating and set a $35.00 price target (up from $30.00) on shares of Health Insurance Innovations in a research note on Monday, July 17th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $31.33.

Shares of Health Insurance Innovations (NASDAQ HIIQ) opened at 22.50 on Wednesday. The stock has a 50 day moving average of $30.59 and a 200 day moving average of $22.78. Health Insurance Innovations has a 52 week low of $4.00 and a 52 week high of $37.38. The stock has a market cap of $280.55 million, a P/E ratio of 18.20 and a beta of 0.65.

Health Insurance Innovations (NASDAQ:HIIQ) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.13. The firm had revenue of $61.80 million for the quarter, compared to analysts’ expectations 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 revenue was up 38.9% on a year-over-year basis. On average, analysts expect that Health Insurance Innovations will post $1.53 earnings per share for the current year.

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In other Health Insurance Innovations news, CEO Bruce Telkamp sold 30,000 shares of the business’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $26.68, for a total transaction of $800,400.00. Following the sale, the chief executive officer now directly owns 104,001 shares in the company, valued at $2,774,746.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sheldon Wang sold 4,530 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $32.73, for a total transaction of $148,266.90. Following the sale, the insider now owns 224,894 shares in the company, valued at $7,360,780.62. The disclosure for this sale can be found here. Insiders have sold 221,248 shares of company stock worth $6,203,127 over the last quarter. Insiders own 30.00% of the company’s stock.

A number of large investors have recently modified their holdings of HIIQ. Russell Investments Group Ltd. purchased a new stake in shares of Health Insurance Innovations during the second quarter worth approximately $14,467,000. Lyon Street Capital LLC purchased a new stake in shares of Health Insurance Innovations during the first quarter worth approximately $8,772,000. Capital World Investors purchased a new stake in shares of Health Insurance Innovations during the second quarter worth approximately $11,680,000. Renaissance Technologies LLC increased its stake in shares of Health Insurance Innovations by 68.3% during the second quarter. Renaissance Technologies LLC now owns 1,010,400 shares of the financial services provider’s stock worth $23,744,000 after buying an additional 410,197 shares during the period. Finally, Cortina Asset Management LLC purchased a new stake in shares of Health Insurance Innovations during the first quarter worth approximately $5,192,000. Institutional investors own 90.32% of the company’s stock.

About Health Insurance Innovations

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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