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

HealthStream (NASDAQ:HSTM - Free Report) had its price target increased by Canaccord Genuity Group from $29.00 to $30.00 in a report published on Wednesday,Benzinga reports. The firm currently has a hold rating on the technology company's stock.

Several other research analysts have also issued reports on HSTM. William Blair reaffirmed an "outperform" rating on shares of HealthStream in a research report on Tuesday, February 25th. JMP Securities reaffirmed a "market perform" rating on shares of HealthStream in a research report on Thursday, February 6th. Two investment 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 stock. According to data from MarketBeat, HealthStream presently has an average rating of "Moderate Buy" and a consensus price target of $32.00.

HealthStream Stock Performance

Shares of HSTM traded up $0.50 during trading hours on Wednesday, reaching $33.77. The stock had a trading volume of 197,709 shares, compared to its average volume of 125,369. HealthStream has a 12 month low of $23.92 and a 12 month high of $34.24. The stock has a market capitalization of $1.03 billion, a PE ratio of 51.95, a PEG ratio of 4.37 and a beta of 0.39. The company's 50-day moving average is $32.52 and its two-hundred day moving average is $30.85.

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HealthStream (NASDAQ:HSTM - Get Free Report) last announced its quarterly earnings results on Monday, February 24th. The technology company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. HealthStream had a return on equity of 5.67% and a net margin of 6.84%. The company had revenue of $74.24 million during the quarter, compared to analysts' expectations of $73.55 million. During the same period in the prior year, the company earned $0.14 EPS. Equities analysts anticipate that HealthStream will post 0.63 earnings per share for the current fiscal year.

HealthStream Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be issued a dividend of $0.031 per share. This is an increase from HealthStream's previous quarterly dividend of $0.03. This represents a $0.12 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date is Monday, March 10th. HealthStream's dividend payout ratio (DPR) is presently 18.18%.

Institutional Trading of HealthStream

Large investors have recently bought and sold shares of the business. Quarry LP acquired a new stake in HealthStream during the 3rd quarter worth about $27,000. New Age Alpha Advisors LLC acquired a new stake in HealthStream during the 4th quarter worth about $80,000. Meeder Asset Management Inc. acquired a new stake in HealthStream during the 4th quarter worth about $114,000. Bessemer Group Inc. grew its holdings in HealthStream by 1,074.6% during the 4th quarter. Bessemer Group Inc. now owns 3,747 shares of the technology company's stock worth $119,000 after acquiring an additional 3,428 shares during the period. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of HealthStream in the 4th quarter valued at about $183,000. 69.58% of the stock is currently 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.