HealthStream (NASDAQ:HSTM) Price Target Raised to $30.00

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

HSTM has been the subject of a number of other research reports. JMP Securities reiterated a “market perform” rating on shares of HealthStream in a research report on Thursday, February 6th. William Blair reiterated an “outperform” rating on shares of HealthStream in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, HealthStream has an average rating of “Moderate Buy” and an average price target of $32.00.

HealthStream Stock Performance

Shares of HSTM stock opened at $33.77 on Wednesday. HealthStream has a 52-week low of $23.92 and a 52-week high of $34.24. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 51.95, a P/E/G ratio of 4.37 and a beta of 0.39. The firm has a fifty day moving average of $32.47 and a 200-day moving average of $30.81.

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

HealthStream Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.12 dividend on an annualized basis and a yield of 0.37%. This is a positive change from HealthStream’s previous quarterly dividend of $0.03. HealthStream’s dividend payout ratio is currently 18.18%.

Institutional Investors Weigh In On HealthStream

A number of hedge funds have recently added to or reduced their stakes in HSTM. Quarry LP bought a new stake in HealthStream during the 3rd quarter worth about $27,000. New Age Alpha Advisors LLC bought a new stake in HealthStream during the 4th quarter worth about $80,000. Meeder Asset Management Inc. bought a new stake in HealthStream during the 4th quarter worth about $114,000. Bessemer Group Inc. boosted its stake in shares of HealthStream by 1,074.6% in the 4th quarter. Bessemer Group Inc. now owns 3,747 shares of the technology company’s stock valued at $119,000 after purchasing an additional 3,428 shares during the last quarter. Finally, Lee Danner & Bass Inc. bought a new position in shares of HealthStream in the 4th quarter valued at about $183,000. Institutional investors own 69.58% of the company’s stock.

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.