In a report released today, Steven Halper from Cantor Fitzgerald reiterated a Buy rating on Health Insurance Innovations (NASDAQ: HIIQ), with a price target of $60. The company’s shares opened today at $27.65.
Halper observed:
“Solid 1Q18 results. Revenue of $67.8 million (+21.3% y/y) was in line with FactSet consensus of $67.8 million and slightly below our estimate of $70.2 million. Revenue growth was primarily driven by an increase in policies in force as well as favorable commission margins. Adjusted EBITDA increased to $11.9 million from $9.65 million in 1Q17, reflecting inherent leverage in the model. Adjusted EPS were $0.52 vs. FactSet consensus of $0.50 and our estimate of $0.57. Management indicated that it expects to settle its multi-state review within the next few months. We don’t expect a material impact.”
According to TipRanks.com, Halper is a 5-star analyst with an average return of 15.7% and a 64.8% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Tivity Health Inc, and Hms Holdings Corp.
Health Insurance Innovations has an analyst consensus of Strong Buy, with a price target consensus of $48.14.
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Health Insurance Innovations’ market cap is currently $348.9M and has a P/E ratio of 18.07. The company has a book value ratio of 4.0556.
Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of HIIQ in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Health Insurance Innovations, Inc. is a developer, distributor and virtual administrator of affordable individual and family health insurance plans and supplemental products. The company sells individual and family insurance plans that include short-term medical insurance plans and hospital indemnity plans.
