Franklin Resources Inc. Trims Stake in HealthStream, Inc. (NASDAQ:HSTM)

Franklin Resources Inc. cut its position in shares of HealthStream, Inc. (NASDAQ:HSTM) by 0.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 44,259 shares of the technology company’s stock after selling 407 shares during the period. Franklin Resources Inc. owned approximately 0.15% of HealthStream worth $1,253,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in HealthStream by 36.0% in 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 during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of HealthStream by 10.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,671 shares of the technology company’s stock worth $270,000 after acquiring an additional 876 shares during the last quarter. Quarry LP bought a new stake in shares of HealthStream during the 3rd quarter worth approximately $27,000. Ellsworth Advisors LLC boosted its holdings in HealthStream by 5.1% during the 3rd quarter. Ellsworth Advisors LLC now owns 20,035 shares of the technology company’s stock valued at $578,000 after acquiring an additional 972 shares during the period. Finally, Point72 DIFC Ltd bought a new position in HealthStream in the 2nd quarter valued at $38,000. 69.58% of the stock is owned by hedge funds and other institutional investors.

HealthStream Price Performance

HSTM stock opened at $31.75 on Friday. HealthStream, Inc. has a 1-year low of $23.92 and a 1-year high of $33.52. The business has a 50-day moving average price of $31.37 and a 200 day moving average price of $29.52. The company has a market capitalization of $965.68 million, a P/E ratio of 48.85, a PEG ratio of 4.36 and a beta of 0.38.

HealthStream (NASDAQ:HSTM) last posted its quarterly earnings results on Monday, October 21st. The technology company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.13 by $0.06. HealthStream had a net margin of 6.84% and a return on equity of 5.67%. The business had revenue of $73.10 million during the quarter, compared to analyst estimates of $73.53 million. During the same quarter in the previous year, the business posted $0.13 EPS. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, analysts anticipate that HealthStream, Inc. will post 0.63 earnings per share for the current fiscal year.

HealthStream Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Monday, November 4th were given a dividend of $0.028 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.11 annualized dividend and a yield of 0.35%. HealthStream’s dividend payout ratio (DPR) is presently 16.92%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HSTM. Craig Hallum raised shares of HealthStream to a “strong-buy” rating in a research note on Thursday, October 17th. Barclays boosted their price objective on shares of HealthStream from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Canaccord Genuity Group raised their target price on shares of HealthStream from $28.00 to $29.00 and gave the stock a “hold” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $31.50.

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.