HealthEquity (NASDAQ:HQY) Price Target Raised to $107.00

HealthEquity (NASDAQ:HQY) had its target price hoisted by JMP Securities from $105.00 to $107.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

A number of other equities analysts have also commented on HQY. Barrington Research increased their price target on shares of HealthEquity from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Mizuho initiated coverage on HealthEquity in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $126.00 target price for the company. Royal Bank of Canada raised their price target on HealthEquity from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday. Bank of America boosted their price objective on HealthEquity from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, The Goldman Sachs Group assumed coverage on HealthEquity in a research note on Friday, November 15th. They set a “neutral” rating and a $108.00 price objective for the company. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, HealthEquity has a consensus rating of “Moderate Buy” and an average target price of $110.71.

HealthEquity Stock Performance

Shares of HQY opened at $95.00 on Tuesday. The company has a current ratio of 3.20, a quick ratio of 4.10 and a debt-to-equity ratio of 0.51. The stock has a 50-day moving average price of $93.81 and a 200-day moving average price of $84.07. The company has a market cap of $8.23 billion, a PE ratio of 87.16, a price-to-earnings-growth ratio of 1.10 and a beta of 0.55. HealthEquity has a 12-month low of $62.10 and a 12-month high of $105.82.

Insider Transactions at HealthEquity

In other news, Director Robert W. Selander sold 8,250 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $101.56, for a total value of $837,870.00. Following the sale, the director now directly owns 66,469 shares of the company’s stock, valued at $6,750,591.64. The trade was a 11.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Frank Corvino sold 1,247 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $80.26, for a total value of $100,084.22. Following the completion of the sale, the director now directly owns 4,823 shares in the company, valued at $387,093.98. This trade represents a 20.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,786 shares of company stock valued at $1,722,387. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On HealthEquity

Large investors have recently modified their holdings of the stock. Wasatch Advisors LP increased its stake in HealthEquity by 6.6% during 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 in the last quarter. State Street Corp grew its holdings in shares of HealthEquity by 0.8% during the third quarter. State Street Corp now owns 3,131,900 shares of the company’s stock valued at $256,346,000 after buying an additional 23,613 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of HealthEquity by 1.9% during the second quarter. Clearbridge Investments LLC now owns 2,377,204 shares of the company’s stock valued at $204,915,000 after acquiring an additional 43,491 shares in the last quarter. Mackenzie Financial Corp raised its holdings in HealthEquity by 16.0% in the 2nd quarter. Mackenzie Financial Corp now owns 2,364,521 shares of the company’s stock worth $203,822,000 after acquiring an additional 325,906 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in HealthEquity by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,078,977 shares of the company’s stock valued at $170,197,000 after acquiring an additional 15,145 shares in the last quarter. Hedge funds and other institutional investors own 99.55% of the company’s stock.

About HealthEquity

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.