HealthStream (NASDAQ:HSTM) Hits New 12-Month High – Here’s Why

HealthStream, Inc. (NASDAQ:HSTM) reached a new 52-week high on Thursday . The stock traded as high as $33.78 and last traded at $32.95, with a volume of 7570 shares trading hands. The stock had previously closed at $33.39.

Analysts Set New Price Targets

Several equities analysts recently issued reports on HSTM shares. Canaccord Genuity Group boosted their price target on HealthStream from $28.00 to $29.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. Craig Hallum upgraded shares of HealthStream to a “strong-buy” rating in a research note on Thursday, October 17th. JMP Securities restated a “market perform” rating on shares of HealthStream in a research note on Thursday. Finally, Barclays lifted their price objective on HealthStream from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $31.50.

HealthStream Stock Performance

The stock has a 50-day moving average of $32.19 and a 200 day moving average of $30.35. The firm has a market capitalization of $1.01 billion, a P/E ratio of 51.05, a price-to-earnings-growth ratio of 4.30 and a beta of 0.39.

Institutional Trading of HealthStream

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its position in shares of HealthStream by 36.0% during the third quarter. GAMMA Investing LLC now owns 1,355 shares of the technology company’s stock worth $39,000 after purchasing an additional 359 shares in the last quarter. Rhumbline Advisers raised its holdings in HealthStream by 0.6% during the 4th quarter. Rhumbline Advisers now owns 74,468 shares of the technology company’s stock worth $2,368,000 after purchasing an additional 412 shares during the last quarter. Sanctuary Advisors LLC lifted its position in HealthStream by 4.8% during the 4th quarter. Sanctuary Advisors LLC now owns 15,445 shares of the technology company’s stock valued at $507,000 after purchasing an additional 708 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of HealthStream by 10.0% during the second quarter. The Manufacturers Life Insurance Company now owns 9,671 shares of the technology company’s stock worth $270,000 after buying an additional 876 shares during the last quarter. Finally, Quarry LP bought a new position in HealthStream in the third quarter valued at approximately $27,000. 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.