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 $48.45, close to its 52-week high of $49.70.
Halper wrote:
“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 100 analyst with an average return of 22.9% and a 76.1% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Tivity Health Inc, and Hms Holdings Corp.
Currently, the analyst consensus on Health Insurance Innovations is a Strong Buy with an average price target of $56.50, a 16.6% upside from current levels. In a report issued on August 1, Raymond James also maintained a Buy rating on the stock.
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The company has a one-year high of $49.70 and a one-year low of $12.65. Currently, Health Insurance Innovations has an average volume of 333.7K.
Based on the recent corporate insider activity of 45 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.
