In a report released today, Steven Halper from Cantor Fitzgerald reiterated a Buy rating on Health Insurance Innovations (HIIQ), with a price target of $65. The company’s shares closed yesterday at $33.88.
Halper said:
“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. We expect demand for short-term medical and limited indemnity products to continue to grow given the recent regulatory changes.”
According to TipRanks.com, Halper is a top 25 analyst with an average return of 19.5% and a 67.8% 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 $69.17 average price target, a 104.2% upside from current levels. In a report issued on November 28, B.Riley FBR also maintained a Buy rating on the stock with a $60 price target.
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Based on Health Insurance Innovations’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $3.04 million. In comparison, last year the company had a net profit of $3.89 million.
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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.
