BTIG Research Issues Positive Forecast for HealthEquity (NASDAQ:HQY) Stock Price

HealthEquity (NASDAQ:HQY) had its target price lifted by BTIG Research from $110.00 to $130.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also commented on the stock. Bank of America raised their target price on shares of HealthEquity from $100.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday. Barrington Research restated an “outperform” rating and set a $105.00 price objective on shares of HealthEquity in a research report on Friday, September 20th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $92.00 target price on shares of HealthEquity in a report on Wednesday, September 4th. JMP Securities reissued a “market outperform” rating and set a $105.00 price target on shares of HealthEquity in a report on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on HealthEquity from $102.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.23.

HealthEquity Trading Up 3.4 %

Shares of HQY stock opened at $98.98 on Thursday. The stock has a market cap of $8.64 billion, a P/E ratio of 82.48, a price-to-earnings-growth ratio of 1.55 and a beta of 0.52. HealthEquity has a 1 year low of $62.10 and a 1 year high of $101.17. The company has a current ratio of 4.10, a quick ratio of 4.10 and a debt-to-equity ratio of 0.51. The stock has a 50 day simple moving average of $85.02 and a 200 day simple moving average of $81.08.

HealthEquity (NASDAQ:HQY) last released its earnings results on Tuesday, September 3rd. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.16. HealthEquity had a return on equity of 9.01% and a net margin of 9.61%. The firm had revenue of $299.93 million during the quarter, compared to the consensus estimate of $284.48 million. On average, research analysts predict that HealthEquity will post 2.27 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Robert W. Selander sold 8,250 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $82.98, for a total value of $684,585.00. Following the transaction, the director now directly owns 54,719 shares of the company’s stock, valued at $4,540,582.62. The trade was a 13.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frank Corvino sold 1,039 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $96.10, for a total value of $99,847.90. Following the sale, the director now directly owns 3,784 shares of the company’s stock, valued at $363,642.40. This represents a 21.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,536 shares of company stock valued at $884,517. 2.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On HealthEquity

Several institutional investors have recently made changes to their positions in the stock. Wasatch Advisors LP grew its position in HealthEquity by 6.6% in the 3rd quarter. Wasatch Advisors LP now owns 7,758,890 shares of the company’s stock valued at $635,065,000 after purchasing an additional 483,269 shares during the period. Mackenzie Financial Corp lifted its stake in shares of HealthEquity by 16.0% in the second quarter. Mackenzie Financial Corp now owns 2,364,521 shares of the company’s stock valued at $203,822,000 after buying an additional 325,906 shares in the last quarter. Generate Investment Management Ltd bought a new stake in shares of HealthEquity during the second quarter worth about $24,184,000. Vaughan Nelson Investment Management L.P. increased its position in shares of HealthEquity by 36.7% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 843,423 shares of the company’s stock worth $69,034,000 after acquiring an additional 226,563 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in shares of HealthEquity by 924.2% in the 2nd quarter. Thrivent Financial for Lutherans now owns 220,220 shares of the company’s stock worth $18,983,000 after acquiring an additional 198,718 shares during the last quarter. Institutional investors and hedge funds own 99.55% of the company’s stock.

HealthEquity Company Profile

HealthEquity, Inc provides technology-enabled services platforms to consumers and employers in the United States. The company offers cloud-based platforms for individuals to make health saving and spending decisions, pay healthcare bills, receive personalized benefit information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts.