Canaccord Genuity reiterated their buy rating on shares of Health Insurance Innovations, Inc. (NASDAQ:HIIQ) in a research note released on Friday morning. Canaccord Genuity currently has a $39.00 price objective on the financial services provider’s stock, up from their prior price objective of $30.00.

Several other research analysts have also weighed in on the stock. Craig Hallum reiterated a buy rating and set a $38.00 price objective (up from $28.00) on shares of Health Insurance Innovations in a report on Thursday. Cantor Fitzgerald reiterated an overweight rating and set a $35.00 price objective (up from $30.00) on shares of Health Insurance Innovations in a report on Monday, July 17th. Zacks Investment Research lowered shares of Health Insurance Innovations from a buy rating to a hold rating in a report on Wednesday, July 12th. Raymond James Financial, Inc. reiterated a market perform rating on shares of Health Insurance Innovations in a report on Monday, June 26th. Finally, TheStreet upgraded shares of Health Insurance Innovations from a c rating to a b- rating in a report on Monday, May 22nd. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $30.83.

Shares of Health Insurance Innovations (NASDAQ:HIIQ) traded up 7.09% during midday trading on Friday, hitting $31.70. 911,774 shares of the company’s stock were exchanged. The firm has a market cap of $366.14 million, a PE ratio of 25.65 and a beta of 0.68. The stock’s 50-day moving average price is $25.25 and its 200 day moving average price is $20.08. Health Insurance Innovations has a one year low of $3.90 and a one year high of $32.95.

Health Insurance Innovations (NASDAQ:HIIQ) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.13. The business had revenue of $61.80 million for the quarter, compared to analyst estimates of $53.69 million. Health Insurance Innovations had a net margin of 5.56% and a return on equity of 23.92%. Health Insurance Innovations’s revenue was up 38.9% on a year-over-year basis. Equities research analysts forecast that Health Insurance Innovations will post $1.48 EPS for the current year.

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In related news, insider Sheldon Wang sold 12,417 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $21.18, for a total value of $262,992.06. Following the transaction, the insider now owns 226,251 shares in the company, valued at $4,791,996.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Bruce Telkamp sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $26.27, for a total transaction of $394,050.00. Following the completion of the transaction, the chief executive officer now owns 29,201 shares in the company, valued at approximately $767,110.27. The disclosure for this sale can be found here. Insiders sold 256,983 shares of company stock worth $6,283,895 in the last 90 days. 30.00% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its position in Health Insurance Innovations by 11.5% in the first quarter. Bank of New York Mellon Corp now owns 12,270 shares of the financial services provider’s stock valued at $197,000 after buying an additional 1,266 shares during the last quarter. Spark Investment Management LLC raised its position in Health Insurance Innovations by 1.5% in the second quarter. Spark Investment Management LLC now owns 145,100 shares of the financial services provider’s stock valued at $3,409,000 after buying an additional 2,200 shares during the last quarter. Acrospire Investment Management LLC raised its position in Health Insurance Innovations by 36.8% in the first quarter. Acrospire Investment Management LLC now owns 11,505 shares of the financial services provider’s stock valued at $184,000 after buying an additional 3,094 shares during the last quarter. Cadence Capital Management LLC raised its position in Health Insurance Innovations by 5.8% in the second quarter. Cadence Capital Management LLC now owns 67,833 shares of the financial services provider’s stock valued at $1,594,000 after buying an additional 3,690 shares during the last quarter. Finally, Bank of Montreal Can acquired a new position in Health Insurance Innovations during the first quarter valued at approximately $118,000. Hedge funds and other institutional investors own 71.94% 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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