Health Insurance Innovations, Inc. (NASDAQ:HIIQ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The brokerage currently has a $33.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price indicates a potential upside of 4.10% from the company’s current price.

According to Zacks, “Health Insurance Innovations, Inc. operates as a developer and administrator of web-based individual health insurance plans and ancillary products. Its product portfolio consists of short-term medical plans, accident, sickness & hospital medical plans, ancillary insurance, life insurance, lifestyle and discount services. Health Insurance Innovations, Inc. is based in Tampa, Florida. “

Several other analysts have also weighed in on HIIQ. UBS AG raised Health Insurance Innovations to an “outperform” rating in a report on Thursday, May 4th. Canaccord Genuity reaffirmed a “buy” rating and set a $39.00 target price (up from $30.00) on shares of Health Insurance Innovations in a report on Friday. Craig Hallum reissued a “buy” rating and issued a $38.00 price objective (up from $28.00) on shares of Health Insurance Innovations in a report on Thursday. TheStreet raised Health Insurance Innovations from a “c” rating to a “b-” rating in a report on Monday, May 22nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $35.00 price objective (up from $30.00) on shares of Health Insurance Innovations in a report on Monday, July 17th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $30.83.

Shares of Health Insurance Innovations (HIIQ) opened at 31.70 on Friday. The stock has a market cap of $366.14 million, a P/E ratio of 25.65 and a beta of 0.68. Health Insurance Innovations has a one year low of $3.90 and a one year high of $32.95. The firm’s 50-day moving average price is $25.25 and its 200 day moving average price is $20.08.

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

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In other Health Insurance Innovations news, CFO Michael D. Hershberger sold 15,000 shares of the company’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $20.37, for a total transaction of $305,550.00. Following the completion of the sale, the chief financial officer now directly owns 93,369 shares in the company, valued at $1,901,926.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Bruce Telkamp sold 30,000 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $28.30, for a total transaction of $849,000.00. Following the sale, the chief executive officer now owns 74,001 shares of the company’s stock, valued at $2,094,228.30. The disclosure for this sale can be found here. Insiders have sold 256,983 shares of company stock worth $6,283,895 over the last three months. Company insiders own 30.00% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its stake 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 worth $197,000 after buying an additional 1,266 shares in the last quarter. Spark Investment Management LLC raised its stake 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 worth $3,409,000 after buying an additional 2,200 shares in the last quarter. Acrospire Investment Management LLC raised its stake 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 worth $184,000 after buying an additional 3,094 shares in the last quarter. Cadence Capital Management LLC raised its stake 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 worth $1,594,000 after buying an additional 3,690 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in Health Insurance Innovations during the first quarter worth approximately $118,000. Institutional investors and hedge funds own 71.94% 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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