Shares of Health Insurance Innovations, Inc. (NASDAQ:HIIQ) have earned a consensus recommendation of “Buy” from the eleven research firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $32.67.

Several research analysts have commented on the stock. Craig Hallum reissued a “buy” rating and issued a $38.00 price target (up from $28.00) on shares of Health Insurance Innovations in a report on Thursday, August 3rd. ValuEngine downgraded shares of Health Insurance Innovations from a “buy” rating to a “hold” rating in a report on Monday, August 14th. Canaccord Genuity reissued a “buy” rating and issued a $39.00 price target on shares of Health Insurance Innovations in a report on Monday, October 16th. Northland Securities reissued a “buy” rating and issued a $37.00 price target on shares of Health Insurance Innovations in a report on Tuesday, October 17th. Finally, Zacks Investment Research raised shares of Health Insurance Innovations from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Friday, August 4th.

In other Health Insurance Innovations news, CFO Michael D. Hershberger sold 17,769 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $31.42, for a total value of $558,301.98. Following the completion of the sale, the chief financial officer now directly owns 94,569 shares of the company’s stock, valued at $2,971,357.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sheldon Wang sold 16,307 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $31.69, for a total transaction of $516,768.83. Following the completion of the sale, the insider now directly owns 229,001 shares of the company’s stock, valued at $7,257,041.69. The disclosure for this sale can be found here. Insiders have sold a total of 48,576 shares of company stock valued at $1,584,152 over the last ninety days. 30.00% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of HIIQ. Bank of New York Mellon Corp lifted 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 purchasing an additional 1,266 shares during the last quarter. Vanguard Group Inc. lifted its stake in Health Insurance Innovations by 92.2% in the first quarter. Vanguard Group Inc. now owns 406,293 shares of the financial services provider’s stock worth $6,500,000 after purchasing an additional 194,907 shares during the last quarter. Geode Capital Management LLC lifted its stake in Health Insurance Innovations by 57.0% in the first quarter. Geode Capital Management LLC now owns 62,992 shares of the financial services provider’s stock worth $1,007,000 after purchasing an additional 22,860 shares during the last quarter. Morgan Stanley lifted its stake in Health Insurance Innovations by 240.2% in the first quarter. Morgan Stanley now owns 70,397 shares of the financial services provider’s stock worth $1,127,000 after purchasing an additional 49,703 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Health Insurance Innovations by 180.6% in the first quarter. Renaissance Technologies LLC now owns 600,203 shares of the financial services provider’s stock worth $9,603,000 after purchasing an additional 386,303 shares during the last quarter. 62.42% of the stock is owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: “Health Insurance Innovations, Inc. (HIIQ) Receives Average Recommendation of “Buy” from Analysts” was reported by Daily Political and is owned by of Daily Political. If you are reading this story on another publication, it was illegally stolen and reposted in violation of international copyright and trademark law. The correct version of this story can be viewed at https://www.dailypolitical.com/2017/11/16/health-insurance-innovations-inc-hiiq-receives-average-recommendation-of-buy-from-analysts.html.

Health Insurance Innovations (NASDAQ:HIIQ) opened at $22.95 on Thursday. Health Insurance Innovations has a fifty-two week low of $8.51 and a fifty-two week high of $37.38. The company has a market cap of $401.12, a price-to-earnings ratio of 16.50 and a beta of 0.63.

Health Insurance Innovations (NASDAQ:HIIQ) last announced its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.11. Health Insurance Innovations had a net margin of 5.98% and a return on equity of 21.32%. The firm had revenue of $63.34 million during the quarter, compared to the consensus estimate of $59.30 million. During the same period last year, the firm earned $0.33 EPS. The business’s quarterly revenue was up 37.4% compared to the same quarter last year. equities analysts anticipate that Health Insurance Innovations will post 1.65 EPS for the current year.

Health Insurance Innovations announced that its board has initiated a share repurchase program on Monday, October 16th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

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)

Receive News & Ratings for Health Insurance Innovations Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Health Insurance Innovations Inc. and related companies with MarketBeat.com's FREE daily email newsletter.