Bank of New York Mellon Corp Buys New Position in HealthStream, Inc. $HSTM

Key Points

• Bank of New York Mellon initiated a HealthStream position, purchasing 227,493 shares valued at approximately $6.2 million, or 0.78% of the company. Institutional investors and hedge funds collectively own 69.58% of HSTM.
• HealthStream exceeded quarterly expectations, reporting earnings of $0.23 per share versus the $0.17 consensus and revenue of $83.73 million versus estimates of $80.82 million. Analysts project full-year earnings of $0.72 per share.
• The stock opened at $29.20, near its 52-week high of $31.11, while its average analyst rating remains “Hold” with a $27.00 price target. HealthStream also pays a $0.14 annualized dividend, yielding approximately 0.5%.

Bank of New York Mellon Corp acquired a new stake in shares of HealthStream, Inc. (NASDAQ:HSTM - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 227,493 shares of the technology company's stock, valued at approximately $6,199,000. Bank of New York Mellon Corp owned 0.78% of HealthStream as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in HSTM. Dimensional Fund Advisors LP increased its stake in HealthStream by 6.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,456,043 shares of the technology company's stock worth $30,156,000 after acquiring an additional 87,177 shares during the last quarter. Copeland Capital Management LLC boosted its position in HealthStream by 43.8% in the 1st quarter. Copeland Capital Management LLC now owns 1,276,739 shares of the technology company's stock valued at $26,441,000 after buying an additional 389,186 shares during the last quarter. Renaissance Technologies LLC grew its holdings in HealthStream by 0.5% in the 1st quarter. Renaissance Technologies LLC now owns 477,848 shares of the technology company's stock worth $9,896,000 after buying an additional 2,380 shares in the last quarter. JPMorgan Chase & Co. increased its position in HealthStream by 4.6% in the 4th quarter. JPMorgan Chase & Co. now owns 452,897 shares of the technology company's stock valued at $10,448,000 after acquiring an additional 20,075 shares during the period. Finally, First Eagle Investment Management LLC raised its stake in HealthStream by 1.1% during the 4th quarter. First Eagle Investment Management LLC now owns 413,698 shares of the technology company's stock valued at $9,544,000 after acquiring an additional 4,300 shares in the last quarter. 69.58% of the stock is owned by institutional investors and hedge funds.

HealthStream Stock Performance

Shares of NASDAQ HSTM opened at $29.20 on Friday. The stock has a market cap of $853.22 million, a PE ratio of 40.56, a PEG ratio of 3.44 and a beta of 0.44. HealthStream, Inc. has a 52-week low of $19.50 and a 52-week high of $31.11. The business has a fifty day moving average of $28.50 and a two-hundred day moving average of $24.64.

HealthStream (NASDAQ:HSTM - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The technology company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.06. HealthStream had a net margin of 6.60% and a return on equity of 6.81%. The company had revenue of $83.73 million during the quarter, compared to analyst estimates of $80.82 million. Analysts predict that HealthStream, Inc. will post 0.72 earnings per share for the current year.

HealthStream Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, August 17th were given a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, August 17th. HealthStream's dividend payout ratio (DPR) is presently 19.44%.

Insiders Place Their Bets

In related news, Director Linda Rebrovick sold 6,000 shares of the business's stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $29.00, for a total value of $174,000.00. Following the completion of the transaction, the director owned 51,329 shares in the company, valued at $1,488,541. The trade was a 10.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 20.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

HealthStream Profile

HealthStream, Inc is a Nashville, Tennessee–based provider of workforce development and learning management solutions for healthcare organizations. Since its founding in 1990, the company has focused on helping hospitals, clinics and other care providers streamline staff training, ensure regulatory compliance and monitor employee performance. HealthStream's platform integrates online courses, skill competency assessments and credential management tools to support workforce readiness across the healthcare continuum.

The company's core offerings include a learning management system (LMS) designed specifically for clinical and nonclinical personnel, a competency management suite that tracks skill acquisition and validation, and a content library featuring evidence-based clinical and compliance training modules.

Want to see what other hedge funds are holding HSTM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HealthStream, Inc. (NASDAQ:HSTM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.