Stock Worth Watching: What’s Next for Health Insurance Innovations Inc After Reaching 52-Week High?

Stock Worth Watching: What's Next for Health Insurance Innovations Inc After Reaching 52 Week High?

The stock of Health Insurance Innovations Inc (NASDAQ:HIIQ) hit a new 52-week high and has $22.04 target or 149.00% above today’s $8.85 share price. The 5 months bullish chart indicates low risk for the $150.10M company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $22.04 price target is reached, the company will be worth $223.65M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 913,903 shares traded hands or 387.58% up from the average. Health Insurance Innovations Inc (NASDAQ:HIIQ) has risen 32.28% since April 11, 2016 and is uptrending. It has outperformed by 26.13% the S&P500.

Analysts await Health Insurance Innovations Inc (NASDAQ:HIIQ) to report earnings on November, 14. They expect $0.11 EPS, up 37.50% or $0.03 from last year’s $0.08 per share. HIIQ’s profit will be $1.87 million for 20.11 P/E if the $0.11 EPS becomes a reality. After $0.27 actual EPS reported by Health Insurance Innovations Inc for the previous quarter, Wall Street now forecasts -59.26% negative EPS growth.

Health Insurance Innovations Inc (NASDAQ:HIIQ) Ratings Coverage

Out of 2 analysts covering Health Insurance Innovations Inc (NASDAQ:HIIQ), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Health Insurance Innovations Inc has been the topic of 3 analyst reports since August 13, 2015 according to StockzIntelligence Inc. As per Thursday, June 9, the company rating was downgraded by Raymond James. The stock has “Buy” rating given by Lake Street on Thursday, September 15.

According to Zacks Investment Research, “Health Insurance Innovations, Inc. operates as a developer and administrator of web-based individual health insurance plans and ancillary products. Its product portfolio consists of short-term medical plans, accident, sickness & hospital medical plans, ancillary insurance, life insurance, lifestyle and discount services. Health Insurance Innovations, Inc. is based in Tampa, Florida.”

Insitutional Activity: The institutional sentiment increased to 1.55 in Q2 2016. Its up 0.55, from 1 in 2016Q1. The ratio increased, as 4 funds sold all Health Insurance Innovations Inc shares owned while 7 reduced positions. 13 funds bought stakes while 4 increased positions. They now own 4.10 million shares or 3.53% less from 4.25 million shares in 2016Q1.
The Illinois-based Cna Financial Corp has invested 0.01% in Health Insurance Innovations Inc (NASDAQ:HIIQ). Manufacturers Life Ins Com The last reported 0% of its portfolio in the stock. Suntrust Banks has 26,971 shares for 0% of their US portfolio. Morgan Stanley has 2,100 shares for 0% of their US portfolio. Royal National Bank Of Canada holds 0% of its portfolio in Health Insurance Innovations Inc (NASDAQ:HIIQ) for 32,266 shares. Walleye Trading Ltd Company has 0% invested in the company for 12,900 shares. Art Advsrs Lc accumulated 0% or 13,804 shares. Products Partners Limited Com reported 15,200 shares or 0% of all its holdings. Northern Trust has invested 0% of its portfolio in Health Insurance Innovations Inc (NASDAQ:HIIQ). Prescott Group Incorporated Mngmt Ltd Liability Company holds 0.05% or 55,828 shares in its portfolio. Oxford Asset Mngmt holds 0.01% or 68,788 shares in its portfolio. Commercial Bank Of America De last reported 0% of its portfolio in the stock. California Pub Employees Retirement holds 121,600 shares or 0% of its portfolio. Huber Capital Limited Liability has 735,478 shares for 0.12% of their US portfolio. Jacobs Levy Equity accumulated 0% or 30,526 shares.

Insider Transactions: Since May 18, 2016, the stock had 7 buys, and 0 selling transactions for $289,580 net activity. Another trade for 45,000 shares valued at $180,435 was bought by CANNELL CAPITAL LLC. McNamee Patrick also bought $67,760 worth of Health Insurance Innovations Inc (NASDAQ:HIIQ) on Wednesday, August 10. The insider Denother Josef A. bought 1,000 shares worth $4,600. $4,490 worth of Health Insurance Innovations Inc (NASDAQ:HIIQ) was bought by Hershberger Michael D.

More notable recent Health Insurance Innovations Inc (NASDAQ:HIIQ) news were published by: Marketwatch.com which released: “Health Insurance Innovations Inc. Cl A” on March 04, 2013, also Globenewswire.com with their article: “Health Insurance Innovations, Inc. Reports Record Third Quarter 2016 Financial …” published on November 02, 2016, Marketwatch.com published: “Health Insurance Innovations drops 20% after downgrade” on June 09, 2016. More interesting news about Health Insurance Innovations Inc (NASDAQ:HIIQ) were released by: Investorplace.com and their article: “Health Insurance Innovations Inc (HIIQ): Micro-Cap Roars on Earnings Beat” published on August 09, 2016 as well as Globenewswire.com‘s news article titled: “Health Insurance Innovations, Inc. To Announce Second Quarter 2016 Financial …” with publication date: July 11, 2016.

HIIQ Company Profile

Health Insurance Innovations, Inc., incorporated on October 26, 2012, is a developer, distributor and virtual administrator of individual and family health insurance plans and supplemental products. The Firm sells individual and family insurance plans (IFP) that include short-term medical (STM) insurance plans and hospital indemnity plans. The Firm operates through Insurance Plan Development and Distribution (IPD) segment. The Company’s products include STM, hospital indemnity plans and supplemental products. The Company’s STM plans cover individuals for over 360 days with a range of co-pay and deductible options. Individual major medical (IMM) plans cover prescription drugs, pre-existing conditions and preventive care, while STM plans provide optional coverage for prescription drugs. The Company’s hospital indemnity plans provide a daily cash benefit for hospital treatment and doctor office visits, as well as accidental injury and death or dismemberment benefits.

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