Canaccord Genuity Group Forecasts Strong Price Appreciation for HealthStream (NASDAQ:HSTM) Stock

HealthStream (NASDAQ:HSTM) had its target price boosted by Canaccord Genuity Group from $29.00 to $30.00 in a research report report published on Wednesday morning,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the technology company’s stock.

Several other equities research analysts have also issued reports on HSTM. JMP Securities restated a “market perform” rating on shares of HealthStream in a research note on Thursday, February 6th. William Blair restated an “outperform” rating on shares of HealthStream in a research note on Tuesday. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

HealthStream Stock Up 1.0 %

HealthStream stock opened at $32.68 on Wednesday. HealthStream has a 52 week low of $23.92 and a 52 week high of $34.24. The company’s 50 day moving average price is $32.43 and its two-hundred day moving average price is $30.79. The stock has a market cap of $993.96 million, a P/E ratio of 50.28, a P/E/G ratio of 4.37 and a beta of 0.39.

HealthStream (NASDAQ:HSTM) last posted its earnings results on Monday, February 24th. The technology company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. HealthStream had a net margin of 6.84% and a return on equity of 5.67%. The firm had revenue of $74.24 million for the quarter, compared to analysts’ expectations of $73.55 million. During the same quarter last year, the firm earned $0.14 EPS. On average, equities analysts anticipate that HealthStream will post 0.63 EPS for the current year.

HealthStream Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be paid a $0.031 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.38%. This is a positive change from HealthStream’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Monday, March 10th. HealthStream’s payout ratio is currently 18.18%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Polar Asset Management Partners Inc. grew its stake in HealthStream by 62.2% in the 4th quarter. Polar Asset Management Partners Inc. now owns 91,952 shares of the technology company’s stock valued at $2,924,000 after buying an additional 35,252 shares in the last quarter. Mackenzie Financial Corp purchased a new position in HealthStream in the 4th quarter valued at approximately $228,000. Squarepoint Ops LLC grew its stake in HealthStream by 13.2% in the 4th quarter. Squarepoint Ops LLC now owns 11,257 shares of the technology company’s stock valued at $358,000 after buying an additional 1,316 shares in the last quarter. ProShare Advisors LLC purchased a new position in HealthStream in the 4th quarter valued at approximately $233,000. Finally, Lazard Asset Management LLC grew its stake in HealthStream by 33.2% in the 4th quarter. Lazard Asset Management LLC now owns 32,478 shares of the technology company’s stock valued at $1,031,000 after buying an additional 8,090 shares in the last quarter. 69.58% of the stock is currently owned by hedge funds and other institutional investors.

HealthStream Company Profile

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.