Cantor Fitzgerald analyst Steven Halper reiterated a Buy rating on Health Insurance Innovations (NASDAQ: HIIQ) today and set a price target of $65. The company’s shares opened today at $52.30, close to its 52-week high of $57.03.
Halper noted:
“We reiterate our OW rating on Health Insurance Innovations, Inc. (HIIQ), which is a web-based developer and distributor of short-term medical plans targeted at the individual and family plan (IFP) market. The company also develops and distributes supplemental insurance products, including pharmacy benefit cards, dental plans, vision plans, cancer/critical illness plans, deductible and gap protection plans, and life insurance policies. Given the increasing premiums of individual exchange-based products, demand for short-term medical and limited indemnity products continues to grow.”
According to TipRanks.com, Halper is a top 25 analyst with an average return of 25.4% and a 77.3% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Tivity Health Inc, and Hms Holdings Corp.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Health Insurance Innovations with a $57.67 average price target.
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Health Insurance Innovations’ market cap is currently $713.5M and has a P/E ratio of 45.26. The company has a Price to Book ratio of 7.
Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is neutral on the stock.
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Health Insurance Innovations, Inc. engages in the distribtuion of individual and family health insurance plans. It offers short-term medical; accident, sickness, and hospital; ancillary; lifestyle and discount services; and dental insurance plans. The company was founded by Michael W. Kosloske in 2008 and is headquartered in Tampa, FL.
