HealthStream (NASDAQ:HSTM) Trading Up 7.5% on Better-Than-Expected Earnings (2024)

Posted by Defense World Staff on Apr 24th, 2024

Shares of HealthStream, Inc. (NASDAQ:HSTM – Get Free Report) shot up 7.5% during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as high as $26.72 and last traded at $25.91. 56,462 shares were traded during trading, a decline of 44% from the average session volume of 100,298 shares. The stock had previously closed at $24.11.

The technology company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.07. The firm had revenue of $72.80 million for the quarter, compared to analyst estimates of $71.88 million. HealthStream had a net margin of 5.45% and a return on equity of 4.71%. HealthStream’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the company posted $0.12 EPS.

HealthStream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 11th were paid a $0.028 dividend. The ex-dividend date of this dividend was Friday, March 8th. This is a positive change from HealthStream’s previous quarterly dividend of $0.03. This represents a $0.11 dividend on an annualized basis and a yield of 0.42%. HealthStream’s dividend payout ratio (DPR) is currently 22.00%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. William Blair reaffirmed an “outperform” rating on shares of HealthStream in a research note on Tuesday, February 20th. Barclays assumed coverage on shares of HealthStream in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $32.00 price target on the stock. Finally, StockNews.com raised shares of HealthStream from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 11th. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $32.00.

Read Our Latest Research Report on HSTM

Insider Transactions at HealthStream

In other news, EVP Michael Sousa sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $27.25, for a total transaction of $408,750.00. Following the completion of the sale, the executive vice president now owns 42,525 shares in the company, valued at approximately $1,158,806.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Michael Sousa sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $27.25, for a total transaction of $408,750.00. Following the completion of the sale, the executive vice president now owns 42,525 shares in the company, valued at approximately $1,158,806.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Trisha L. Coady sold 7,000 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $26.34, for a total transaction of $184,380.00. Following the transaction, the senior vice president now directly owns 14,693 shares of the company’s stock, valued at approximately $387,013.62. The disclosure for this sale can be found here. Insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On HealthStream

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC boosted its position in HealthStream by 0.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 58,816 shares of the technology company’s stock valued at $1,590,000 after buying an additional 463 shares during the period. Illinois Municipal Retirement Fund lifted its position in shares of HealthStream by 3.7% during the 4th quarter. Illinois Municipal Retirement Fund now owns 13,658 shares of the technology company’s stock worth $369,000 after purchasing an additional 493 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of HealthStream by 79.4% in the fourth quarter. Parallel Advisors LLC now owns 1,132 shares of the technology company’s stock valued at $31,000 after acquiring an additional 501 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of HealthStream by 11.6% in the fourth quarter. New York State Common Retirement Fund now owns 9,214 shares of the technology company’s stock valued at $249,000 after acquiring an additional 955 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of HealthStream by 568.2% in the third quarter. Signaturefd LLC now owns 1,156 shares of the technology company’s stock valued at $25,000 after acquiring an additional 983 shares in the last quarter. Hedge funds and other institutional investors own 69.58% of the company’s stock.

HealthStream Stock Up 9.5 %

The firm has a market cap of $802.81 million, a PE ratio of 52.82, a P/E/G ratio of 4.06 and a beta of 0.36. The company’s fifty day moving average price is $26.17 and its two-hundred day moving average price is $25.85.

About HealthStream

(Get Free Report)

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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