eHealth Inc (NASDAQ: EHTH) was one of the big gainers at the close of the week. The stock gapped up in Friday’s session to close the day with gains of 26.90%. This came after the company released stronger than expected Q4 and financial year 2019 results.
While announcing the results, CEO Scott Flanders stated that, the company was happy with its achievements in 2019. He added that, the company beat its financial and operational targets, due to marketing and business developments that pushed up consumer demand at the company. He also added that, the company was optimistic that it would share the outlook for the year 2020 and the final Q4 result in February.
In announcing its Q4 results, the company highlighted that, its revenues will be in the $257.5 million to $259.5 million range. The company also expects the Medicare segment to generate revenues in the $239 to $240.5 million range. On top of that, the company expects GAAP net income in Q4 to be anywhere between $98.5 million and $100.5 million.
As for the entire year’s results, the company announced that, it expected revenues for the year to range between $462 and $464 million. This is higher than the company’s prior guidance which was projected to be between $365 and $385 million. It further announced that, revenues from its Medicare business will be in the range of $318 million and $333 million. As for the whole year GAAP net income is expected to be in the $31 and $33 million range. This is significantly higher than its guidance for the year of $20.9 million and $25.9 million.
From its price action, the stock gapped up and opened the day at $115.44. It then traded between a low of $110.92 and a high of $130 before closing the day at $123.26. Volumes in the day stood at 4.84 million.
About eHealth Inc
eHealth Inc is a provider of private health insurance services. It is based in Santa Clara, California.