HealthStream (NASDAQ:HSTM) Trading 3.4% Higher on Earnings Beat

HealthStream, Inc. (NASDAQ:HSTM)’s share price traded up 3.4% during trading on Tuesday following a better than expected earnings announcement. 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 return on equity of 5.19% and a net margin of 6.26%. The company had revenue of $73.10 million during the quarter, compared to analysts’ expectations of $73.53 million. During the same quarter in the previous year, the business earned $0.13 earnings per share. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Craig Hallum upgraded HealthStream to a “strong-buy” rating in a research note on Thursday, October 17th. Canaccord Genuity Group boosted their price objective on HealthStream from $27.00 to $28.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Finally, StockNews.com cut HealthStream from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 24th. Two equities 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 stock. According to data from MarketBeat, HealthStream has a consensus rating of “Moderate Buy” and an average target price of $30.00.

Insider Activity

In other news, Director Tate Deborah Taylor sold 1,400 shares of the business’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 owns 22,326 shares of the company’s stock, valued at approximately $636,960.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Tate Deborah Taylor sold 1,400 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $28.53, for a total transaction of $39,942.00. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Kevin P. O’hara sold 3,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $28.03, for a total value of $84,090.00. Following the transaction, the senior vice president now directly owns 9,527 shares in the company, valued at $267,041.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 20.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of HSTM. Harbor Capital Advisors Inc. grew its holdings in HealthStream by 197.8% during the second quarter. Harbor Capital Advisors Inc. now owns 165,885 shares of the technology company’s stock worth $4,628,000 after acquiring an additional 110,189 shares during the period. First Eagle Investment Management LLC grew its holdings in HealthStream by 21.5% in the first quarter. First Eagle Investment Management LLC now owns 494,828 shares of the technology company’s stock valued at $13,192,000 after purchasing an additional 87,400 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in HealthStream by 58.6% in 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 purchasing an additional 54,227 shares during the last quarter. Wakefield Asset Management LLLP acquired a new stake in HealthStream in the first quarter valued at $909,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in HealthStream by 97.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 67,296 shares of the technology company’s stock valued at $1,878,000 after purchasing an additional 33,161 shares during the last quarter. Institutional investors and hedge funds own 69.58% of the company’s stock.

HealthStream Stock Up 5.7 %

The company has a market cap of $914.07 million, a price-to-earnings ratio of 51.84, a price-to-earnings-growth ratio of 4.25 and a beta of 0.36. The company has a fifty day simple moving average of $28.68 and a two-hundred day simple moving average of $27.88.

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.