HealthStream (NASDAQ:HSTM) Stock Price Up 3.4% After Strong Earnings

HealthStream, Inc. (NASDAQ:HSTM - Get Free Report)'s stock price shot up 3.4% during mid-day trading on Tuesday following a stronger than expected earnings report. The company traded as high as $29.59 and last traded at $29.43. 22,478 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 111,556 shares. The stock had previously closed at $28.45.

The technology company reported $0.19 earnings per share for the quarter, beating 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 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 business earned $0.13 EPS. The company's quarterly revenue was up 4.0% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on HSTM shares. Craig Hallum raised HealthStream to a "strong-buy" rating in a report on Thursday, October 17th. StockNews.com cut HealthStream from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, July 24th. Finally, 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 report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.00.

Insider Buying and Selling

In related news, Director Tate Deborah Taylor sold 1,400 shares of the company's stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $28.53, for a total value of $39,942.00. Following the transaction, the director now directly owns 22,326 shares in the company, valued at approximately $636,960.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other HealthStream news, Director Tate Deborah Taylor sold 1,400 shares of the company's stock in a transaction dated 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 owns 22,326 shares in the company, valued at $636,960.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $28.03, for a total transaction of $84,090.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 20.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On HealthStream

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wakefield Asset Management LLLP purchased a new position in HealthStream in the 1st quarter valued at about $909,000. Vanguard Group Inc. grew its stake in shares of HealthStream by 1.1% in the first quarter. Vanguard Group Inc. now owns 2,938,685 shares of the technology company's stock valued at $78,345,000 after buying an additional 31,943 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in HealthStream by 1.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 78,749 shares of the technology company's stock worth $2,134,000 after buying an additional 1,131 shares during the period. Deerfield Management Company L.P. Series C bought a new stake in shares of HealthStream in the 2nd quarter worth about $626,000. Finally, Assenagon Asset Management S.A. raised its stake in HealthStream by 58.6% during 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 buying an additional 54,227 shares in the last quarter. Institutional investors and hedge funds own 69.58% of the company's stock.

HealthStream Trading Up 3.4 %

The company has a 50-day moving average of $28.63 and a 200-day moving average of $27.84. The firm has a market capitalization of $894.61 million, a price-to-earnings ratio of 49.41, a price-to-earnings-growth ratio of 4.25 and a beta of 0.36.

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.

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