Health Insurance Innovations Received its Third Buy in a Row


After Cantor Fitzgerald and Canaccord Genuity gave Health Insurance Innovations (NASDAQ: HIIQ) a Buy rating last month, the company received another Buy, this time from B.Riley FBR. Analyst Randy Binner maintained a Buy rating on Health Insurance Innovations today and set a price target of $45. The company’s shares opened today at $31.70.

Binner wrote:

“We recently hosted meetings with Health Insurance Innovations (HIIQ) management and institutional investors and came away with several takeaways regarding the resolution of the multi-state regulatory review, the new Federal short-term health insurance rule relaxation, and the operating outlook. We believe all of these items are potential positive catalysts. Coupled with a recent sell-off, we reaffirm our Buy rating with a price target of $45 which is based on a 16.4x multiple of 2019E EPS compared to peers, who trade at 17.4x.”

According to TipRanks.com, Binner is a 5-star analyst with an average return of 13.3% and a 66.8% success rate. Binner covers the Financial sector, focusing on stocks such as American Equity Investment Life, American International Group, and National General Holdings.

Currently, the analyst consensus on Health Insurance Innovations is Strong Buy and the average price target is $48.14, representing a 51.9% upside.

In a report issued on May 28, Canaccord Genuity also assigned a Buy rating to the stock with a $55 price target.

See today’s analyst top recommended stocks >>

The company has a one-year high of $37.38 and a one-year low of $12.65. Currently, Health Insurance Innovations has an average volume of 411.2K.

Based on the recent corporate insider activity of 58 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.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts