HealthStream (NASDAQ:HSTM) Price Target Increased to $28.00 by Analysts at Canaccord Genuity Group

HealthStream (NASDAQ:HSTM) had its price target raised by Canaccord Genuity Group from $27.00 to $28.00 in a report released on Wednesday, Benzinga reports. Canaccord Genuity Group currently has a hold rating on the technology company’s stock.

Separately, StockNews.com raised HealthStream from a buy rating to a strong-buy rating in a research note on Saturday, July 6th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $30.00.

HealthStream Trading Up 2.0 %

Shares of NASDAQ:HSTM opened at $29.34 on Wednesday. HealthStream has a 1-year low of $20.47 and a 1-year high of $31.15. The firm has a market capitalization of $891.88 million, a PE ratio of 50.59, a PEG ratio of 4.21 and a beta of 0.38. The business’s 50 day moving average is $28.07 and its 200-day moving average is $27.02.

HealthStream (NASDAQ:HSTM) last announced its quarterly earnings results on Monday, July 22nd. The technology company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $71.56 million for the quarter, compared to analyst estimates of $72.85 million. HealthStream had a return on equity of 5.19% and a net margin of 6.26%. HealthStream’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.13 EPS. On average, sell-side analysts predict that HealthStream will post 0.57 EPS for the current year.

HealthStream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Monday, August 5th will be paid a $0.028 dividend. This represents a $0.11 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date is Monday, August 5th. HealthStream’s dividend payout ratio is currently 18.97%.

Insiders Place Their Bets

In other HealthStream news, SVP Scott Fenstermacher sold 1,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $26.19, for a total value of $26,190.00. Following the transaction, the senior vice president now owns 13,008 shares of the company’s stock, valued at $340,679.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 20.60% of the company’s stock.

Hedge Funds Weigh In On HealthStream

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Illinois Municipal Retirement Fund raised its position in shares of HealthStream by 3.7% during the fourth quarter. Illinois Municipal Retirement Fund now owns 13,658 shares of the technology company’s stock worth $369,000 after acquiring an additional 493 shares during the last quarter. Parallel Advisors LLC raised its position in shares of HealthStream by 79.4% during the fourth quarter. Parallel Advisors LLC now owns 1,132 shares of the technology company’s stock worth $31,000 after acquiring an additional 501 shares during the last quarter. GAMMA Investing LLC raised its position in shares of HealthStream by 172.1% during the second quarter. GAMMA Investing LLC now owns 996 shares of the technology company’s stock worth $28,000 after acquiring an additional 630 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in HealthStream by 6.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 16,178 shares of the technology company’s stock valued at $432,000 after purchasing an additional 918 shares during the last quarter. Finally, New York State Common Retirement Fund increased its holdings in HealthStream by 11.6% in the fourth quarter. New York State Common Retirement Fund now owns 9,214 shares of the technology company’s stock valued at $249,000 after purchasing an additional 955 shares during the last quarter. Institutional investors and hedge funds own 69.58% of the company’s stock.

About HealthStream

HealthStream, Inc provides Software-as-a-Service (SaaS) based applications for healthcare organizations in the United States. The company's solutions help healthcare organizations in meeting their ongoing clinical development, talent management, training, education, assessment, competency management, safety and compliance, and scheduling, as well as provider credentialing, privileging, and enrollment needs.