Health Insurance Innovations (NASDAQ:HIIQ) Issues FY19 Earnings Guidance

Health Insurance Innovations (NASDAQ:HIIQ) issued an update on its FY19 earnings guidance on Monday morning. The company provided EPS guidance of $4.00-4.25 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.93. The company issued revenue guidance of $450-460 million, compared to the consensus revenue estimate of $453.18 million.Health Insurance Innovations also updated its FY 2019 guidance to $4.00-4.25 EPS.

Shares of HIIQ traded down $1.05 during trading hours on Wednesday, hitting $20.99. 11,511 shares of the company were exchanged, compared to its average volume of 659,172. Health Insurance Innovations has a fifty-two week low of $18.27 and a fifty-two week high of $63.13. The stock has a market capitalization of $297.96 million, a P/E ratio of 11.35 and a beta of 1.30. The business’s fifty day simple moving average is $23.59.

Health Insurance Innovations (NASDAQ:HIIQ) last announced its quarterly earnings data on Monday, August 5th. The financial services provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.46. Health Insurance Innovations had a return on equity of 28.56% and a net margin of 3.48%. The business had revenue of $58.36 million during the quarter, compared to the consensus estimate of $76.76 million. During the same period in the prior year, the company earned $0.53 EPS. Health Insurance Innovations’s revenue for the quarter was down 18.7% on a year-over-year basis. As a group, equities research analysts anticipate that Health Insurance Innovations will post 3.32 earnings per share for the current fiscal year.

Several brokerages recently weighed in on HIIQ. BidaskClub downgraded Health Insurance Innovations from a hold rating to a sell rating in a research report on Tuesday. TheStreet downgraded Health Insurance Innovations from a b- rating to a c rating in a research report on Tuesday, May 7th. ValuEngine upgraded Health Insurance Innovations from a strong sell rating to a sell rating in a research report on Tuesday. Zacks Investment Research downgraded Health Insurance Innovations from a strong-buy rating to a hold rating in a research report on Wednesday. Finally, Northland Securities restated a buy rating and set a $60.00 price objective on shares of Health Insurance Innovations in a research report on Tuesday, May 7th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Health Insurance Innovations currently has a consensus rating of Buy and a consensus price target of $52.25.

In other news, major shareholder Michael W. Kosloske sold 41,393 shares of the firm’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 directly owns 320 shares in the company, valued at $8,188.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Michael W. Kosloske sold 51,160 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $26.32, for a total value of $1,346,531.20. Following the transaction, the insider now owns 320 shares of the company’s stock, valued at $8,422.40. The disclosure for this sale can be found here. Insiders sold 327,691 shares of company stock valued at $8,504,415 over the last quarter. Corporate insiders own 47.88% of the company’s stock.

Health Insurance Innovations Company Profile

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.

Further Reading: Outstanding Shares and The Effect on Share Price

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

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