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 closed yesterday at $54.73.
Halper observed:
“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 24.9% and a 74.4% 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 $64.17, implying a 17.2% upside from current levels. In a report issued on September 27, B.Riley FBR also maintained a Buy rating on the stock with a $60 price target.
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The company has a one-year high of $63.13 and a one-year low of $16.70. Currently, Health Insurance Innovations has an average volume of 391.1K.
Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative 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.
