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

HealthStream (NASDAQ:HSTM) had its price target boosted by research analysts at Canaccord Genuity Group from $28.00 to $29.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the technology company’s stock. Canaccord Genuity Group’s target price would suggest a potential downside of 3.56% from the company’s previous close.

A number of other research firms also recently weighed in on HSTM. StockNews.com downgraded HealthStream from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 24th. Craig Hallum upgraded HealthStream to a “strong-buy” rating in a research note on Thursday, October 17th. Finally, Barclays upped their price objective on HealthStream from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.

HealthStream Stock Performance

Shares of HSTM opened at $30.07 on Wednesday. The stock has a 50 day simple moving average of $28.68 and a 200 day simple moving average of $27.88. HealthStream has a 52-week low of $21.92 and a 52-week high of $31.15. The firm has a market capitalization of $914.07 million, a PE ratio of 51.84, a P/E/G ratio of 4.25 and a beta of 0.36.

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

Insider Transactions at HealthStream

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

Institutional Trading of HealthStream

Several large investors have recently bought and sold shares of HSTM. Harbor Capital Advisors Inc. boosted its stake in HealthStream by 197.8% in the second quarter. Harbor Capital Advisors Inc. now owns 165,885 shares of the technology company’s stock valued at $4,628,000 after buying an additional 110,189 shares in the last quarter. First Eagle Investment Management LLC raised its position in HealthStream by 21.5% in the first quarter. First Eagle Investment Management LLC now owns 494,828 shares of the technology company’s stock valued at $13,192,000 after purchasing an additional 87,400 shares during the last quarter. Assenagon Asset Management S.A. raised its position in HealthStream by 58.6% in the second quarter. Assenagon Asset Management S.A. now owns 146,826 shares of the technology company’s stock valued at $4,096,000 after purchasing an additional 54,227 shares during the last quarter. Wakefield Asset Management LLLP bought a new position in HealthStream in the first quarter valued at about $909,000. Finally, Allspring Global Investments Holdings LLC raised its position in HealthStream by 97.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 67,296 shares of the technology company’s stock valued at $1,878,000 after purchasing an additional 33,161 shares during the last quarter. 69.58% of the stock is owned by institutional investors and hedge funds.

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.