HealthStream (NASDAQ:HSTM) Downgraded by StockNews.com to “Buy”

StockNews.com cut shares of HealthStream (NASDAQ:HSTM) from a strong-buy rating to a buy rating in a report issued on Wednesday morning.

Separately, Canaccord Genuity Group boosted their price target on shares of HealthStream from $27.00 to $28.00 and gave the company a hold rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, HealthStream has an average rating of Moderate Buy and an average target price of $30.00.

HealthStream Trading Up 2.0 %

Shares of HSTM stock opened at $29.34 on Wednesday. The firm has a fifty day moving average price of $28.07 and a 200 day moving average price of $27.02. The company has a market cap of $891.94 million, a P/E ratio of 50.59, a PEG ratio of 4.29 and a beta of 0.38. HealthStream has a 12 month low of $20.47 and a 12 month high of $31.15.

HealthStream (NASDAQ:HSTM) last issued its earnings results on Monday, July 22nd. The technology company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The firm had revenue of $71.56 million during the quarter, compared to the consensus estimate of $72.85 million. HealthStream had a net margin of 6.26% and a return on equity of 5.19%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.13 earnings per share. On average, equities analysts forecast that HealthStream will post 0.57 EPS for the current year.

HealthStream Dividend Announcement

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

Insider Activity

In related news, SVP Scott Fenstermacher sold 1,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $26.19, for a total transaction of $26,190.00. Following the completion of the transaction, the senior vice president now directly owns 13,008 shares of the company’s stock, valued at $340,679.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 20.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in HSTM. Woodmont Investment Counsel LLC acquired a new position in HealthStream during the fourth quarter worth about $364,000. New York State Teachers Retirement System grew its position in HealthStream by 16.1% during the fourth quarter. New York State Teachers Retirement System now owns 16,166 shares of the technology company’s stock worth $437,000 after buying an additional 2,239 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in HealthStream by 9.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 306,338 shares of the technology company’s stock worth $8,280,000 after buying an additional 27,274 shares during the period. Allspring Global Investments Holdings LLC grew its position in HealthStream by 90.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 18,710 shares of the technology company’s stock worth $506,000 after buying an additional 8,906 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new position in HealthStream during the fourth quarter worth about $324,000. 69.58% of the stock is currently owned by institutional investors and hedge funds.

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.