Bank of America Corp DE Buys New Position in HealthStream, Inc. $HSTM

Key Points

• Bank of America purchased 122,914 HealthStream shares worth approximately $3.35 million, while several other institutions also initiated positions. Institutional investors now own about 69.58% of the company.
• HealthStream exceeded quarterly expectations, reporting $0.23 EPS versus the $0.17 consensus and revenue of $83.73 million versus $80.82 million expected.
• The stock opened at $29.74, near its 52-week high, while analysts maintained a consensus “Hold” rating with an average price target of $27.00. The company pays a $0.14 annualized dividend yielding approximately 0.5%.

Bank of America Corp DE purchased a new stake in shares of HealthStream, Inc. (NASDAQ:HSTM - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 122,914 shares of the technology company's stock, valued at approximately $3,349,000. Bank of America Corp DE owned approximately 0.42% of HealthStream at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Man Group plc acquired a new stake in HealthStream in the 2nd quarter valued at about $3,894,000. Jupiter Topco LLC acquired a new position in shares of HealthStream during the second quarter worth approximately $298,000. Legal & General Group Plc bought a new stake in shares of HealthStream during the second quarter valued at approximately $1,588,000. Sanctuary Advisors LLC bought a new stake in shares of HealthStream during the second quarter valued at approximately $334,000. Finally, Globeflex Capital L P acquired a new stake in shares of HealthStream in the second quarter valued at approximately $1,989,000. Institutional investors own 69.58% of the company's stock.

HealthStream Stock Performance

Shares of HealthStream stock opened at $29.74 on Wednesday. The firm has a fifty day moving average of $28.80 and a two-hundred day moving average of $25.61. The stock has a market capitalization of $869.00 million, a price-to-earnings ratio of 41.31, a PEG ratio of 3.37 and a beta of 0.44. HealthStream, Inc. has a 52 week low of $19.50 and a 52 week high of $31.11.

HealthStream (NASDAQ:HSTM - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The technology company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.06. HealthStream had a return on equity of 6.81% and a net margin of 6.60%.The company had revenue of $83.73 million for the quarter, compared to the consensus estimate of $80.82 million. As a group, research analysts forecast that HealthStream, Inc. will post 0.72 EPS for the current fiscal year.

HealthStream Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, August 17th were paid a $0.0350 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $0.14 annualized dividend and a yield of 0.5%. HealthStream's dividend payout ratio is presently 19.44%.

Analyst Upgrades and Downgrades

HSTM has been the subject of several research analyst reports. Wall Street Zen upgraded shares of HealthStream from a "hold" rating to a "buy" rating in a research report on Sunday, August 30th. Weiss Ratings upgraded HealthStream from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, August 28th. Finally, Canaccord Genuity Group upped their price target on HealthStream from $24.00 to $27.00 and gave the company a "hold" rating in a research note on Tuesday, July 21st. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, HealthStream currently has a consensus rating of "Hold" and an average price target of $27.00.

Insider Transactions at HealthStream

In other HealthStream news, Director Linda Rebrovick sold 6,000 shares of the firm's stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $29.00, for a total transaction of $174,000.00. Following the transaction, the director owned 51,329 shares in the company, valued at approximately $1,488,541. This trade represents a 10.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Robert Frist, Jr. sold 144,068 shares of the business's stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $29.50, for a total value of $4,250,006.00. Following the transaction, the chief executive officer owned 3,907,038 shares of the company's stock, valued at $115,257,621. The trade was a 3.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 20.40% of the stock is currently owned by company insiders.

HealthStream Profile

HealthStream, Inc provides workforce and provider solutions designed for healthcare organizations. Its cloud-based offerings help hospitals, health systems and other healthcare providers manage employee training, education, credentialing, compliance and professional development.

The company's products and services include learning and talent-management tools, provider credentialing and enrollment solutions, performance assessment, clinical development resources, and patient-experience measurement services.

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