HealthStream (NASDAQ:HSTM) Price Target Cut to $28.00 by Analysts at Canaccord Genuity Group

Key Points

• Analysts at Canaccord Genuity Group have lowered HealthStream's price target from $29.00 to $28.00, maintaining a "hold" rating on the stock.
• The company's stock experienced a slight decline, trading at $25.94 with a market capitalization of approximately $791.69 million.
• HealthStream announced a stock buyback program, allowing repurchase of up to $25 million worth of shares, signaling confidence in its stock valuation.

HealthStream (NASDAQ:HSTM - Get Free Report) had its price objective dropped by stock analysts at Canaccord Genuity Group from $29.00 to $28.00 in a report released on Thursday,Benzinga reports. The firm currently has a "hold" rating on the technology company's stock. Canaccord Genuity Group's price target points to a potential upside of 7.94% from the stock's current price.

HealthStream Price Performance

HSTM traded down $0.15 during trading on Thursday, reaching $25.94. 171,231 shares of the stock were exchanged, compared to its average volume of 179,764. The company has a market capitalization of $791.69 million, a price-to-earnings ratio of 38.72, a P/E/G ratio of 3.33 and a beta of 0.43. HealthStream has a 1 year low of $25.36 and a 1 year high of $34.24. The business's 50 day moving average price is $27.24 and its two-hundred day moving average price is $30.14.

HealthStream (NASDAQ:HSTM - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The technology company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. HealthStream had a net margin of 6.89% and a return on equity of 5.70%. The business had revenue of $74.40 million for the quarter, compared to analyst estimates of $74.39 million. On average, analysts anticipate that HealthStream will post 0.63 EPS for the current year.

HealthStream declared that its Board of Directors has initiated a stock buyback program on Thursday, May 8th that authorizes the company to buyback $25.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. First Horizon Advisors Inc. raised its holdings in HealthStream by 99.6% in the 1st quarter. First Horizon Advisors Inc. now owns 1,056 shares of the technology company's stock valued at $34,000 after acquiring an additional 527 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of HealthStream by 30.8% during the 1st quarter. GAMMA Investing LLC now owns 2,082 shares of the technology company's stock valued at $67,000 after buying an additional 490 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of HealthStream by 62.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,625 shares of the technology company's stock valued at $84,000 after buying an additional 1,010 shares during the period. Bessemer Group Inc. boosted its position in HealthStream by 1,074.6% during the 4th quarter. Bessemer Group Inc. now owns 3,747 shares of the technology company's stock worth $119,000 after purchasing an additional 3,428 shares during the period. Finally, Virtus Advisers LLC purchased a new stake in HealthStream during the 1st quarter worth $161,000. 69.58% of the stock is currently owned by institutional investors and hedge funds.

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.

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