HEALTHSTREAM INC
HSTM · Services-Computer Programming, Data Processing, Etc. · 29.2M shares · -1%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $5M (gross $9M, SBC $4M)
Reference price $25.00 · est. market cap ~$730M — last insider sale, 2026-06-01 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C66Healthcare-workforce SaaS, profitable with strong FCF margin, but slow growth and thin liquidity.
Strengths
- Strong FCF margin — 19.6%, FCF $59.6M
- Profitable, recurring revenue — operating margin 6.7%, net margin 6.0%
Risks
- Slow growth — revenue +4.3% (27th)
- Thin liquidity — current ratio 0.96 (14th)
- Earnings dip — -8.3%
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Weak liquidityCurrent ratio 0.96 (<1)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Notable holderHeld by 5 notable fund(s): STATE STREET CORP, RENAISSANCE TECHNOLOGIES LLC, GOLDMAN SACHS GROUP INC +2 more (as of 2026-03-31)
- Insider sellingInsider selling — 3 open-market sale(s) by 2 insider(s) (cluster of 2 insiders, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
6.7%
Net margin
6.0%
Return on equity
5.2%
Return on assets
3.5%
Revenue growth (QoQ)
1.9%
Net-income growth
-8.3%
Current ratio
1.0×
Free cash flow
$60M
EBITDA
$64M
Tangible book value
$72M
Cash & investments
$57M
Stock comp / revenue
2.7%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-08 | DENT THOMPSON | Option exercise | 3.1K | — |
| 2026-06-08 | Jahangir Amir Alex | Option exercise | 3.1K | — |
| 2026-06-08 | Beard Charles Jr. | Option exercise | 1.2K | — |
| 2026-06-08 | MCLAREN JEFFREY L | Option exercise | 3.1K | — |
| 2026-06-08 | RAPPUHN TERRY ALLISON | Option exercise | 3.1K | — |
| 2026-06-08 | REBROVICK LINDA | Grant | 3.1K | — |
| 2026-06-08 | Taylor Tate Deborah | Option exercise | 3.1K | — |
| 2026-06-08 | GORDON FRANK | Option exercise | 3.1K | — |
| 2026-06-01 | REBROVICK LINDA | Sell | 2.0K | $25.00 |
| 2026-05-28 | GORDON FRANK | Grant | 1.5K | $24.63 |
| 2026-05-28 | REBROVICK LINDA | Sell | 2.0K | $25.00 |
| 2026-05-20 | O'Hara Kevin P | Sell | 3.0K | $24.08 |
| 2026-03-30 | Coady Trisha L | Option exercise | 5.7K | — |
| 2026-03-30 | Coady Trisha L | Tax withheld | 1.4K | $21.25 |
| 2026-03-30 | Collier Michael Manning | Option exercise | 7.3K | — |
| 2026-03-30 | Collier Michael Manning | Tax withheld | 1.8K | $21.25 |
| 2026-03-30 | Roberts Scott Alexander | Option exercise | 5.6K | — |
| 2026-03-30 | Roberts Scott Alexander | Tax withheld | 1.4K | $21.25 |
| 2026-03-30 | O'Hara Kevin P | Option exercise | 5.7K | — |
| 2026-03-30 | O'Hara Kevin P | Tax withheld | 1.4K | $21.25 |
| 2026-03-30 | McQuigg Michael Scott | Option exercise | 5.6K | — |
| 2026-03-30 | McQuigg Michael Scott | Tax withheld | 1.4K | $21.25 |
| 2026-03-30 | LoPresto Jennifer Hayes | Option exercise | 803 | — |
| 2026-03-30 | LoPresto Jennifer Hayes | Tax withheld | 274 | $21.25 |
| 2026-03-30 | FRIST ROBERT A JR | Option exercise | 4.0K | — |
| 2026-03-30 | FRIST ROBERT A JR | Tax withheld | 984 | $21.25 |
| 2026-03-30 | Cunningham Jeff | Option exercise | 5.6K | — |
| 2026-03-30 | Cunningham Jeff | Tax withheld | 1.4K | $21.25 |
| 2026-02-27 | Cunningham Jeff | Tax withheld | 754 | $22.09 |
| 2026-02-27 | Coady Trisha L | Option exercise | 3.8K | — |
| 2026-02-27 | Coady Trisha L | Tax withheld | 1.1K | $22.09 |
| 2026-02-27 | Collier Michael Manning | Option exercise | 5.4K | — |
| 2026-02-27 | Collier Michael Manning | Tax withheld | 1.6K | $22.09 |
| 2026-02-27 | Cunningham Jeff | Option exercise | 2.5K | — |
| 2026-02-27 | McQuigg Michael Scott | Option exercise | 2.5K | — |
| 2026-02-27 | McQuigg Michael Scott | Tax withheld | 754 | $22.09 |
| 2026-02-27 | O'Hara Kevin P | Option exercise | 4.7K | — |
| 2026-02-27 | O'Hara Kevin P | Tax withheld | 1.4K | $22.09 |
| 2026-02-27 | Roberts Scott Alexander | Option exercise | 2.5K | — |
| 2026-02-27 | Roberts Scott Alexander | Tax withheld | 754 | $22.09 |
| 2025-12-15 | FRIST ROBERT A JR | Gift | 528K | — |
| 2025-12-15 | FRIST ROBERT A JR | Gift | 400K | — |
| 2025-12-15 | FRIST ROBERT A JR | Gift | 528K | — |
| 2025-12-15 | FRIST ROBERT A JR | Gift | 528K | — |
| 2025-12-10 | Cunningham Jeff | Sell | 2.1K | $24.09 |
| 2025-12-09 | FRIST ROBERT A JR | Disposition | 158K | — |
| 2025-12-08 | O'Hara Kevin P | Sell | 2.0K | $24.26 |
| 2025-12-08 | FRIST ROBERT A JR | Gift | 6.8K | — |
| 2025-12-02 | Taylor Tate Deborah | Gift | 394 | — |
| 2025-12-01 | Taylor Tate Deborah | Gift | 40 | — |
| 2025-11-28 | Taylor Tate Deborah | Gift | 1.1K | — |
| 2025-11-26 | Taylor Tate Deborah | Sell | 1.6K | $25.46 |
| 2025-10-30 | O'Hara Kevin P | Tax withheld | 187 | $25.83 |
| 2025-10-30 | Roberts Scott Alexander | Option exercise | 766 | — |
| 2025-10-30 | Roberts Scott Alexander | Tax withheld | 187 | $25.83 |
| 2025-10-30 | FRIST ROBERT A JR | Tax withheld | 234 | $25.83 |
| 2025-10-30 | FRIST ROBERT A JR | Option exercise | 958 | — |
| 2025-10-30 | Coady Trisha L | Option exercise | 2.6K | — |
| 2025-10-30 | Coady Trisha L | Tax withheld | 625 | $25.83 |
| 2025-10-30 | Collier Michael Manning | Option exercise | 895 | — |
| 2025-10-30 | Collier Michael Manning | Tax withheld | 218 | $25.83 |
| 2025-10-30 | Cunningham Jeff | Option exercise | 766 | — |
| 2025-10-30 | Cunningham Jeff | Tax withheld | 187 | $25.83 |
| 2025-10-30 | Fenstermacher Scott | Option exercise | 575 | — |
| 2025-10-30 | Fenstermacher Scott | Tax withheld | 195 | $25.83 |
| 2025-10-30 | McQuigg Michael Scott | Option exercise | 766 | — |
| 2025-10-30 | McQuigg Michael Scott | Tax withheld | 187 | $25.83 |
| 2025-10-30 | O'Hara Kevin P | Option exercise | 766 | — |
| 2025-09-29 | Collier Michael Manning | Option exercise | 1.1K | — |
| 2025-09-29 | Coady Trisha L | Option exercise | 869 | — |
| 2025-09-29 | Coady Trisha L | Tax withheld | 212 | $29.08 |
| 2025-09-29 | Collier Michael Manning | Tax withheld | 265 | $29.08 |
| 2025-09-29 | Cunningham Jeff | Option exercise | 869 | — |
| 2025-09-29 | Cunningham Jeff | Tax withheld | 212 | $29.08 |
| 2025-09-29 | Fenstermacher Scott | Option exercise | 652 | — |
| 2025-09-29 | Fenstermacher Scott | Tax withheld | 221 | $29.08 |
| 2025-09-29 | McQuigg Michael Scott | Option exercise | 869 | — |
| 2025-09-29 | McQuigg Michael Scott | Tax withheld | 212 | $29.08 |
| 2025-09-29 | O'Hara Kevin P | Option exercise | 869 | — |
| 2025-09-29 | O'Hara Kevin P | Tax withheld | 212 | $29.08 |
| 2025-09-29 | Roberts Scott Alexander | Option exercise | 869 | — |
| 2025-09-29 | Roberts Scott Alexander | Tax withheld | 212 | $29.08 |
| 2025-09-29 | FRIST ROBERT A JR | Option exercise | 1.1K | — |
| 2025-09-29 | FRIST ROBERT A JR | Tax withheld | 265 | $29.08 |
| 2025-08-27 | O'Hara Kevin P | Sell | 2.0K | $27.97 |
| 2025-06-09 | DENT THOMPSON | Option exercise | 2.1K | — |
| 2025-06-09 | GORDON FRANK | Option exercise | 2.1K | — |
| 2025-06-09 | Jahangir Amir Alex | Option exercise | 2.1K | — |
| 2025-06-09 | RAPPUHN TERRY ALLISON | Option exercise | 2.1K | — |
| 2025-06-09 | REBROVICK LINDA | Option exercise | 2.1K | — |
| 2025-06-09 | Taylor Tate Deborah | Option exercise | 2.1K | — |
| 2025-06-09 | MCLAREN JEFFREY L | Option exercise | 2.1K | — |
| 2025-05-29 | STEAD WILLIAM | Grant | 5.3K | — |
| 2025-05-29 | GORDON FRANK | Grant | 1.2K | $27.89 |
| 2025-03-28 | Sousa Michael | Option exercise | 4.9K | — |
| 2025-03-28 | Sousa Michael | Tax withheld | 1.4K | $31.90 |
| 2025-03-28 | Roberts Scott Alexander | Option exercise | 6.6K | — |
| 2025-03-28 | Roberts Scott Alexander | Tax withheld | 1.6K | — |
| 2025-03-28 | O'Hara Kevin P | Option exercise | 6.6K | — |
| 2025-03-28 | O'Hara Kevin P | Tax withheld | 1.6K | $31.90 |
| 2025-03-28 | McQuigg Michael Scott | Option exercise | 6.6K | — |
| 2025-03-28 | McQuigg Michael Scott | Tax withheld | 1.6K | $31.90 |
| 2025-03-28 | FRIST ROBERT A JR | Option exercise | 4.9K | — |
| 2025-03-28 | FRIST ROBERT A JR | Tax withheld | 1.2K | $31.90 |
| 2025-03-28 | Fenstermacher Scott | Option exercise | 5.5K | — |
| 2025-03-28 | Fenstermacher Scott | Tax withheld | 1.8K | $31.90 |
| 2025-03-28 | Cunningham Jeff | Option exercise | 6.6K | — |
| 2025-03-28 | Cunningham Jeff | Tax withheld | 1.6K | $31.90 |
| 2025-03-28 | Collier Michael Manning | Option exercise | 8.0K | — |
| 2025-03-28 | Collier Michael Manning | Tax withheld | 2.0K | $31.90 |
| 2025-03-28 | Coady Trisha L | Option exercise | 6.6K | — |
| 2025-03-28 | Coady Trisha L | Tax withheld | 1.6K | $31.90 |
| 2025-03-28 | STEAD WILLIAM | Option exercise | 1.1K | — |
| 2025-03-28 | Taylor Tate Deborah | Option exercise | 1.1K | — |
| 2025-03-28 | REBROVICK LINDA | Option exercise | 1.1K | — |
| 2025-03-28 | RAPPUHN TERRY ALLISON | Option exercise | 1.3K | — |
| 2025-03-28 | MCLAREN JEFFREY L | Option exercise | 1.1K | — |
| 2025-03-28 | GORDON FRANK | Option exercise | 1.1K | — |
| 2025-03-28 | DENT THOMPSON | Option exercise | 1.1K | — |
| 2025-02-27 | Fenstermacher Scott | Sell | 2.0K | $33.15 |
| 2025-02-27 | Coady Trisha L | Option exercise | 2.0K | — |
| 2025-02-27 | Coady Trisha L | Tax withheld | 593 | $32.37 |
| 2025-02-27 | Collier Michael Manning | Option exercise | 3.6K | — |
| 2025-02-27 | Collier Michael Manning | Tax withheld | 1.0K | $32.37 |
| 2025-02-27 | Cunningham Jeff | Option exercise | 2.0K | — |
| 2025-02-27 | Cunningham Jeff | Tax withheld | 593 | $32.37 |
| 2025-02-27 | Fenstermacher Scott | Option exercise | 2.0K | — |
| 2025-02-27 | Fenstermacher Scott | Tax withheld | 659 | $32.37 |
| 2025-02-27 | McQuigg Michael Scott | Option exercise | 2.0K | — |
| 2025-02-27 | McQuigg Michael Scott | Tax withheld | 593 | $32.37 |
| 2025-02-27 | O'Hara Kevin P | Option exercise | 2.6K | — |
| 2025-02-27 | O'Hara Kevin P | Tax withheld | 665 | $32.37 |
| 2025-02-27 | Roberts Scott Alexander | Option exercise | 2.0K | — |
| 2025-02-27 | Roberts Scott Alexander | Tax withheld | 593 | $32.37 |
| 2025-02-27 | Sousa Michael | Option exercise | 12K | — |
| 2025-02-27 | Sousa Michael | Tax withheld | 3.6K | $32.37 |
| 2025-01-30 | Fenstermacher Scott | Option exercise | 830 | — |
| 2025-01-30 | Fenstermacher Scott | Tax withheld | 319 | $32.62 |
| 2025-01-14 | O'Hara Kevin P | Option exercise | 2.8K | — |
| 2025-01-14 | O'Hara Kevin P | Tax withheld | 844 | $31.38 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-29 | Shareholder voteExhibits | filing ↗ |
| 2026-05-08 | Exec/director change | filing ↗ |
| 2026-05-04 | ResultsReg FDOtherExhibits | filing ↗ |
| 2026-03-13 | Material agreementOtherExhibits | filing ↗ |
| 2026-02-23 | ResultsReg FDOtherExhibits | filing ↗ |
| 2025-12-15 | OtherExhibits | filing ↗ |
| 2025-12-09 | OtherExhibits | filing ↗ |
| 2025-11-12 | OtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-29 | 2026-05-28 | 0001437749-26-018888 ↗ |
| 8-K | 2026-05-08 | 2026-05-04 | 0001437749-26-015956 ↗ |
| 10-Q | 2026-05-06 | 2026-03-31 | 0001437749-26-015213 ↗ |
| 8-K | 2026-05-04 | 2026-05-04 | 0001437749-26-014670 ↗ |
| 8-K | 2026-03-13 | 2026-03-13 | 0001437749-26-008226 ↗ |
| 10-K | 2026-02-27 | 2025-12-31 | 0001437749-26-005916 ↗ |
| 8-K | 2026-02-23 | 2026-02-23 | 0001437749-26-005117 ↗ |
| 8-K | 2025-12-15 | 2025-12-15 | 0001437749-25-037858 ↗ |
| 8-K | 2025-12-09 | 2025-12-09 | 0001437749-25-037279 ↗ |
| 8-K | 2025-11-12 | 2025-11-11 | 0001437749-25-034261 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0001437749-25-033632 ↗ |
| 8-K | 2025-11-03 | 2025-11-03 | 0001437749-25-032791 ↗ |