Health Insurance Innovations (NASDAQ:HIIQ) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Thursday.

A number of other equities analysts have also commented on HIIQ. ValuEngine lowered Health Insurance Innovations from a “buy” rating to a “hold” rating in a research note on Wednesday, June 27th. B. Riley lifted their price objective on Health Insurance Innovations from $45.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, August 7th. Canaccord Genuity reaffirmed a “buy” rating and issued a $62.00 price objective (up from $55.00) on shares of Health Insurance Innovations in a research note on Thursday, August 2nd. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Health Insurance Innovations in a research note on Thursday, August 16th. Finally, Zacks Investment Research raised Health Insurance Innovations from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Tuesday, July 31st. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Health Insurance Innovations presently has a consensus rating of “Buy” and an average price target of $47.51.

Health Insurance Innovations stock opened at $47.42 on Thursday. The company has a market capitalization of $1.03 billion, a P/E ratio of 39.52 and a beta of 0.54. Health Insurance Innovations has a one year low of $18.25 and a one year high of $63.13.

Health Insurance Innovations (NASDAQ:HIIQ) last posted its quarterly earnings data on Wednesday, August 1st. The financial services provider reported $0.61 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.03. The company had revenue of $71.70 million for the quarter, compared to analyst estimates of $70.51 million. Health Insurance Innovations had a return on equity of 19.43% and a net margin of 5.39%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.46 earnings per share. Analysts predict that Health Insurance Innovations will post 2.06 EPS for the current year.

In other Health Insurance Innovations news, CEO of HealthPocket, Inc. division Bruce Telkamp sold 7,517 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $43.20, for a total value of $324,734.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Sheldon Wang sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $37.05, for a total value of $370,500.00. Following the completion of the transaction, the insider now directly owns 38,675 shares in the company, valued at $1,432,908.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,110 shares of company stock worth $980,909. Insiders own 55.94% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC lifted its stake in Health Insurance Innovations by 6.1% in the second quarter. Renaissance Technologies LLC now owns 1,012,300 shares of the financial services provider’s stock valued at $32,748,000 after buying an additional 57,800 shares during the period. Cannell Capital LLC increased its holdings in shares of Health Insurance Innovations by 2.1% during the second quarter. Cannell Capital LLC now owns 751,793 shares of the financial services provider’s stock valued at $24,321,000 after acquiring an additional 15,700 shares in the last quarter. Ashford Capital Management Inc. increased its holdings in shares of Health Insurance Innovations by 14.5% during the second quarter. Ashford Capital Management Inc. now owns 504,525 shares of the financial services provider’s stock valued at $16,321,000 after acquiring an additional 63,943 shares in the last quarter. Harvest Capital Strategies LLC increased its holdings in shares of Health Insurance Innovations by 9.0% during the first quarter. Harvest Capital Strategies LLC now owns 350,000 shares of the financial services provider’s stock valued at $10,115,000 after acquiring an additional 28,850 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Health Insurance Innovations during the second quarter valued at approximately $7,759,000. 86.89% of the stock is currently owned by hedge funds and other institutional investors.

About Health Insurance Innovations

Health Insurance Innovations, Inc operates as a cloud-based technology platform and distributor of individual and family health insurance plans, and supplemental products in the United States. It offers short-term medical plans that provides three months of health insurance coverage with various deductible and copay levels; health benefit insurance plans, which offer daily cash benefit for hospital treatment and doctor office visits, as well as accidental injury and death or dismemberment benefits; and supplemental insurance products, including pharmacy benefit cards, dental plans, vision plans, cancer/critical illness plans, deductible and gap protection plans, and life insurance policies.

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Analyst Recommendations for Health Insurance Innovations (NASDAQ:HIIQ)

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