$82.08 Million in Sales Expected for Health Insurance Innovations Inc (NASDAQ:HIIQ) This Quarter

Wall Street brokerages expect Health Insurance Innovations Inc (NASDAQ:HIIQ) to report $82.08 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Health Insurance Innovations’ earnings, with estimates ranging from $78.17 million to $86.00 million. Health Insurance Innovations posted sales of $71.72 million in the same quarter last year, which suggests a positive year-over-year growth rate of 14.4%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, August 7th.

On average, analysts expect that Health Insurance Innovations will report full year sales of $452.71 million for the current fiscal year, with estimates ranging from $452.01 million to $453.40 million. For the next financial year, analysts forecast that the company will post sales of $513.20 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Health Insurance Innovations.

Health Insurance Innovations (NASDAQ:HIIQ) last released its quarterly earnings data on Monday, May 6th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.08). Health Insurance Innovations had a net margin of 3.48% and a return on equity of 28.56%. The business had revenue of $87.33 million during the quarter, compared to analyst estimates of $83.58 million. During the same period in the previous year, the business earned $0.70 earnings per share. The business’s quarterly revenue was up 15.0% on a year-over-year basis.

A number of brokerages have recently issued reports on HIIQ. Zacks Investment Research downgraded shares of Health Insurance Innovations from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. BidaskClub downgraded shares of Health Insurance Innovations from a “hold” rating to a “sell” rating in a report on Monday, April 1st. ValuEngine downgraded shares of Health Insurance Innovations from a “buy” rating to a “hold” rating in a report on Thursday, March 14th. Finally, Lake Street Capital dropped their target price on shares of Health Insurance Innovations from $80.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. Two equities research analysts have rated the stock with a sell rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $56.11.

In other Health Insurance Innovations news, major shareholder Michael W. Kosloske sold 105,401 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $26.08, for a total value of $2,748,858.08. Following the transaction, the insider now directly owns 69,720 shares in the company, valued at approximately $1,818,297.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Michael W. Kosloske sold 41,393 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $25.59, for a total transaction of $1,059,246.87. Following the completion of the transaction, the insider now owns 320 shares in the company, valued at $8,188.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 197,954 shares of company stock worth $5,154,636. Corporate insiders own 47.88% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Trexquant Investment LP raised its holdings in Health Insurance Innovations by 94.0% in the first quarter. Trexquant Investment LP now owns 121,590 shares of the financial services provider’s stock valued at $3,261,000 after buying an additional 58,900 shares during the period. White Pine Capital LLC acquired a new position in shares of Health Insurance Innovations during the first quarter worth approximately $1,048,000. Thompson Siegel & Walmsley LLC acquired a new position in shares of Health Insurance Innovations during the first quarter worth approximately $787,000. B. Riley Financial Inc. lifted its holdings in shares of Health Insurance Innovations by 97.1% during the first quarter. B. Riley Financial Inc. now owns 377,608 shares of the financial services provider’s stock worth $10,127,000 after buying an additional 185,988 shares during the last quarter. Finally, Connors Investor Services Inc. acquired a new position in shares of Health Insurance Innovations during the first quarter worth approximately $1,751,000.

NASDAQ:HIIQ traded up $0.06 during trading hours on Friday, reaching $26.17. The company had a trading volume of 340,820 shares, compared to its average volume of 904,042. Health Insurance Innovations has a 52 week low of $18.27 and a 52 week high of $63.13. The stock has a market cap of $363.71 million, a price-to-earnings ratio of 14.22 and a beta of 1.30. The company’s 50 day simple moving average is $26.20.

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 provide 3 months to 12 months of health insurance coverage with various deductible and copay levels; health benefit insurance plans, which offer fixed cash benefits and additional benefits for procedures and services; and supplemental insurance products, including life insurance policies, dental plans, vision plans, cancer/critical illness plans, deductible and gap protection plans, and pharmacy benefit cards.

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Earnings History and Estimates for Health Insurance Innovations (NASDAQ:HIIQ)

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