Canaccord Genuity Group Lowers HealthStream (NASDAQ:HSTM) Price Target to $29.00

HealthStream (NASDAQ:HSTM) had its price target cut by research analysts at Canaccord Genuity Group from $30.00 to $29.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “hold” rating on the technology company’s stock. Canaccord Genuity Group’s price target would indicate a potential upside of 1.79% from the company’s current price.

A number of other equities research analysts also recently issued reports on the company. William Blair reissued an “outperform” rating on shares of HealthStream in a research report on Tuesday, February 25th. JMP Securities restated a “market perform” rating on shares of HealthStream in a report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.

HealthStream Stock Performance

Shares of NASDAQ:HSTM opened at $28.49 on Thursday. The stock has a fifty day moving average of $31.29 and a 200-day moving average of $31.93. The company has a market capitalization of $869.66 million, a PE ratio of 43.83, a price-to-earnings-growth ratio of 4.37 and a beta of 0.50. HealthStream has a one year low of $25.84 and a one year high of $34.24.

HealthStream (NASDAQ:HSTM) last posted its earnings results on Monday, May 5th. The technology company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The firm had revenue of $73.49 million during the quarter, compared to analyst estimates of $74.93 million. HealthStream had a net margin of 6.84% and a return on equity of 5.67%. During the same quarter in the previous year, the business posted $0.17 earnings per share. As a group, research analysts forecast that HealthStream will post 0.63 EPS for the current fiscal year.

HealthStream announced that its Board of Directors has initiated a stock buyback plan on Thursday, May 8th that permits the company to repurchase $25.00 million in shares. This repurchase authorization permits the technology company to reacquire up to 3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of HealthStream

Several large investors have recently bought and sold shares of HSTM. Copeland Capital Management LLC grew its position in shares of HealthStream by 101.3% during the first quarter. Copeland Capital Management LLC now owns 763,690 shares of the technology company’s stock worth $24,576,000 after buying an additional 384,384 shares in the last quarter. Cerity Partners LLC grew its position in shares of HealthStream by 3,889.2% during the fourth quarter. Cerity Partners LLC now owns 300,070 shares of the technology company’s stock worth $9,534,000 after buying an additional 292,548 shares in the last quarter. Norges Bank acquired a new stake in shares of HealthStream during the fourth quarter worth approximately $3,649,000. Bridgeway Capital Management LLC acquired a new stake in shares of HealthStream during the first quarter worth approximately $3,228,000. Finally, Vanguard Group Inc. grew its position in shares of HealthStream by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 3,055,060 shares of the technology company’s stock worth $97,151,000 after buying an additional 92,067 shares in the last quarter. Institutional investors and hedge funds 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.