HealthStream (NASDAQ:HSTM) Price Target Raised to $27.00 at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group raised HealthStream’s price target from $24 to $27, while keeping a hold rating on the stock. The new target still implies a slight downside from the current share price.
• HealthStream’s recent quarterly results beat expectations, with EPS of $0.20 versus the $0.16 consensus and revenue of $81.2 million versus estimates of $79.68 million.
• Despite mixed analyst views and some insider selling, the stock has seen continued institutional interest, and MarketBeat reports a consensus hold rating with an average target price of $27.00.

HealthStream (NASDAQ:HSTM - Get Free Report) had its price target upped by research analysts at Canaccord Genuity Group from $24.00 to $27.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "hold" rating on the technology company's stock. Canaccord Genuity Group's target price indicates a potential downside of 4.69% from the company's current price.

A number of other research analysts have also recently weighed in on the stock. Wall Street Zen raised shares of HealthStream from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Weiss Ratings upgraded HealthStream from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, June 23rd. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, HealthStream has a consensus rating of "Hold" and an average target price of $27.00.

HealthStream Trading Down 0.5%

HSTM stock opened at $28.33 on Tuesday. The company's 50-day moving average price is $26.01 and its 200 day moving average price is $22.99. HealthStream has a 52 week low of $19.50 and a 52 week high of $30.00. The company has a market cap of $827.80 million, a P/E ratio of 42.28, a P/E/G ratio of 3.23 and a beta of 0.45.

HealthStream (NASDAQ:HSTM - Get Free Report) last issued its earnings results on Monday, May 4th. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.04. HealthStream had a net margin of 6.39% and a return on equity of 6.47%. The company had revenue of $81.20 million during the quarter, compared to analysts' expectations of $79.68 million. On average, equities research analysts expect that HealthStream will post 0.74 earnings per share for the current year.

Insider Activity at HealthStream

In related news, EVP Kevin P. O'hara sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $24.08, for a total transaction of $72,240.00. Following the sale, the executive vice president owned 20,982 shares in the company, valued at approximately $505,246.56. This trade represents a 12.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Linda Rebrovick sold 6,000 shares of the business's stock in a transaction 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 of the company's stock, valued at $1,488,541. This trade represents a 10.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 11,000 shares of company stock worth $296,240 in the last three months. Insiders own 20.40% of the company's stock.

Institutional Trading of HealthStream

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in shares of HealthStream by 22.7% during the 2nd quarter. GAMMA Investing LLC now owns 20,610 shares of the technology company's stock valued at $562,000 after acquiring an additional 3,809 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in HealthStream by 76.4% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,025 shares of the technology company's stock valued at $28,000 after purchasing an additional 444 shares during the period. Versant Capital Management Inc grew its holdings in HealthStream by 462.8% in the second quarter. Versant Capital Management Inc now owns 4,401 shares of the technology company's stock valued at $120,000 after purchasing an additional 3,619 shares during the period. Essential Partners LLC purchased a new stake in HealthStream in the first quarter valued at approximately $25,000. Finally, Bank of America Corp DE increased its position in HealthStream by 2.0% during the first quarter. Bank of America Corp DE now owns 131,563 shares of the technology company's stock worth $2,725,000 after purchasing an additional 2,608 shares during the last quarter. Hedge funds and other institutional investors own 69.58% of the company's stock.

HealthStream Company 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.

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