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A list of reasons why Benefytt Technologies Inc. is a company to follow and a stock to consider adding to your portfolio.
Benefytt Technologies Inc. is a Fortune 100 company. Insurtech company, Benefytt Technologies Inc., which pioneered the “Quote, Buy, and Print” model of Internet insurance sales, posted expectations-breaking earnings for its second quarter ended in June, up 16% year over year to $71.7 million.
In a review of Benefytt Technologies, Fortune combined the company’s revenue growth rate of 46%, EPS growth rate of 256% and annualized total return of 87% over the past three years to place HIIQ in the top spot for 2018. According to these criteria, Benefyttoutranks some of the world’s most recognizable companies including Facebook, Amazon, Netflix and more. View the full list of Fortune 100 companies here.
Benefytt Technologies Inc. is highly involved in helping the community. BFYT believes in funding research, supporting education and helping those in need, some of the companies BFYT regularly contributes to are Pepin Academies, Tommy's, Bliss, St. Joseph's Children Hospital and many more.
After Hurricane Michael, Benefytt Technologies Inc. showed the victims support by filling a 18 wheeler with essential supplies.
More recently, on April of 2019, Benefytt held a 50 mile bike charity ride from St. Pete to Brandon, FL in support of Bliss, which focus is on helping premature and sick babies and St. Joseph's Children's Hospital, which is a leading Tampa Bay children's hospital.
The Florida 50 Charity Bike Ride raised over $60K in donations.
To follow along with the Insurtech company's community involvement, visit the Health Insurance Innovations Organization.
In a recent Seeking Alpha HIIQ article, the analyst examines how the recent regulation changes position Benefytt Technologies for success.
"As of November, the individual mandate penalty was repealed for policyholders whose policies do not meet ACA requirements. Short-term medical policyholders will no longer have to pay a penalty fee for their coverage preference beginning in 2019. This will be a major revenue catalyst for the company; purchasing a short-term policy without supplementation will no longer come with a deal-breaking fee."
In a recent BFYT analysis by Zacks Equity Research, the company's stock was rated as a solid growth stock. A recent Seeking Alpha analysis also noted that HIIQ stock is "A Grossly Undervalued Fire Sale" . Benefytt stock is rated as outperform by 8 stock analytics.
Benefytt Stock has been under short attacks that mislead the investing public. These articles take a deep dive and debunk the short narrative:
Health Insurance Innovations: The Shorts Are Wrong, Get Long
Health Insurance Innovations, Inc: Debunking the Boiler Room Narrative
Keep up with company news here.
In its most recent Investor Presentation, BFYT talked about new product opportunities and initiatives. Some of the markets/products that the company is expanding into are:
Life Insurance, with a target of $100 million in 2019
The 65+ market, where 10,000 people age into Medicare each day
Spanish language products, which will reach the large untapped market of about 10 million uninsured Spanish speakers
In June 2019, Benefytt Technologies Inc. acquired TogetherHealth, a direct to consumer platform that connects insurance companies and consumers. This acquisition is expected to contribute at least $10 million of adjusted earnings for the remainder of the fiscal year 2019.
These initiatives paint an exciting and profitable future for BFYT.
