HealthStream (NASDAQ:HSTM) Price Target Raised to $29.00 at Canaccord Genuity Group

HealthStream (NASDAQ:HSTM) had its target price hoisted by Canaccord Genuity Group from $28.00 to $29.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a hold rating on the technology company’s stock.

A number of other research analysts have also issued reports on the stock. Craig Hallum upgraded shares of HealthStream to a “strong-buy” rating in a research report on Thursday, October 17th. StockNews.com lowered shares of HealthStream from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 24th. Finally, Barclays increased their target price on shares of HealthStream from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, HealthStream presently has a consensus rating of “Moderate Buy” and an average target price of $31.50.

HealthStream Stock Down 4.8 %

HealthStream stock opened at $28.63 on Wednesday. The stock has a market cap of $870.29 million, a P/E ratio of 49.36, a P/E/G ratio of 4.25 and a beta of 0.36. HealthStream has a twelve month low of $22.84 and a twelve month high of $31.15. The company’s 50-day moving average price is $28.70 and its two-hundred day moving average price is $27.88.

HealthStream (NASDAQ:HSTM) last announced its earnings results on Monday, October 21st. The technology company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. HealthStream had a net margin of 6.26% and a return on equity of 5.19%. The firm had revenue of $73.10 million for the quarter, compared to analyst estimates of $73.53 million. During the same quarter in the prior year, the business posted $0.13 EPS. The business’s revenue was up 4.0% compared to the same quarter last year. Equities analysts anticipate that HealthStream will post 0.56 earnings per share for the current fiscal year.

HealthStream Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Monday, November 4th will be given a dividend of $0.028 per share. The ex-dividend date is Monday, November 4th. This represents a $0.11 annualized dividend and a dividend yield of 0.39%. HealthStream’s dividend payout ratio is 18.97%.

Insider Buying and Selling

In related news, Director Tate Deborah Taylor sold 1,400 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $28.53, for a total transaction of $39,942.00. Following the sale, the director now owns 22,326 shares in the company, valued at approximately $636,960.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Tate Deborah Taylor sold 1,400 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $28.53, for a total transaction of $39,942.00. Following the sale, the director now owns 22,326 shares in the company, valued at approximately $636,960.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kevin P. O’hara sold 3,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $28.03, for a total transaction of $84,090.00. Following the sale, the senior vice president now owns 9,527 shares in the company, valued at $267,041.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 20.60% of the stock is currently owned by company insiders.

Institutional Trading of HealthStream

A number of hedge funds have recently added to or reduced their stakes in HSTM. Quadrature Capital Ltd acquired a new stake in HealthStream in the fourth quarter valued at approximately $311,000. Diversified Trust Co acquired a new stake in HealthStream in the first quarter valued at approximately $213,000. Allspring Global Investments Holdings LLC boosted its position in HealthStream by 82.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 34,135 shares of the technology company’s stock valued at $910,000 after buying an additional 15,425 shares in the last quarter. Wakefield Asset Management LLLP acquired a new stake in HealthStream in the first quarter valued at approximately $909,000. Finally, Sei Investments Co. boosted its position in HealthStream by 2.3% in the first quarter. Sei Investments Co. now owns 171,427 shares of the technology company’s stock valued at $4,570,000 after buying an additional 3,926 shares in 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.