HealthStream (NASDAQ:HSTM) Sets New 52-Week High – Here’s Why

HealthStream, Inc. (NASDAQ:HSTM) shares hit a new 52-week high on Wednesday . The stock traded as high as $31.17 and last traded at $31.06, with a volume of 6733 shares trading hands. The stock had previously closed at $29.85.

Wall Street Analysts Forecast Growth

Several analysts recently commented on HSTM shares. StockNews.com downgraded shares of HealthStream from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 24th. Barclays boosted their price objective on HealthStream from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Craig Hallum upgraded HealthStream to a “strong-buy” rating in a research note on Thursday, October 17th. Finally, Canaccord Genuity Group boosted their price target on HealthStream from $28.00 to $29.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Two research 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $31.50.

HealthStream Stock Up 5.2 %

The business’s 50 day simple moving average is $28.82 and its 200-day simple moving average is $28.18. The stock has a market capitalization of $954.88 million, a price-to-earnings ratio of 45.92, a P/E/G ratio of 3.90 and a beta of 0.35.

HealthStream (NASDAQ:HSTM) last issued its earnings results on Monday, October 21st. 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 return on equity of 5.67% and a net margin of 6.84%. The firm had revenue of $73.10 million for the quarter, compared to the consensus estimate of $73.53 million. During the same quarter last year, the business posted $0.13 EPS. The company’s revenue was up 4.0% compared to the same quarter last year. On average, analysts expect that HealthStream, Inc. will post 0.63 earnings per share for the current year.

HealthStream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Monday, November 4th will be paid a dividend of $0.028 per share. This represents a $0.11 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend is Monday, November 4th. HealthStream’s payout ratio is 16.92%.

Insider Activity at HealthStream

In related news, Director Tate Deborah Taylor sold 1,400 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 22,326 shares of the company’s stock, 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 at this link. 20.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in HealthStream by 172.1% in the second quarter. GAMMA Investing LLC now owns 996 shares of the technology company’s stock valued at $28,000 after purchasing an additional 630 shares during the period. Point72 DIFC Ltd acquired a new stake in HealthStream during the 2nd quarter valued at approximately $38,000. Copeland Capital Management LLC bought a new position in HealthStream during the third quarter worth $63,000. CWM LLC lifted its stake in HealthStream by 405.4% in the second quarter. CWM LLC now owns 2,709 shares of the technology company’s stock valued at $76,000 after buying an additional 2,173 shares during the period. Finally, EntryPoint Capital LLC grew its holdings in HealthStream by 80.4% in the first quarter. EntryPoint Capital LLC now owns 8,045 shares of the technology company’s stock worth $214,000 after purchasing an additional 3,586 shares during the period. Institutional investors and hedge funds own 69.58% of the company’s stock.

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.