HealthEquity (NASDAQ:HQY) Shares Down 3.4% – What’s Next?

HealthEquity, Inc. (NASDAQ:HQY) shares were down 3.4% during mid-day trading on Wednesday . The company traded as low as $95.95 and last traded at $96.75. Approximately 44,685 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 612,172 shares. The stock had previously closed at $100.20.

Wall Street Analysts Forecast Growth

Several analysts have commented on HQY shares. Bank of America lifted their price objective on shares of HealthEquity from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $92.00 target price on shares of HealthEquity in a research report on Wednesday, September 4th. Barrington Research reaffirmed an “outperform” rating and issued a $105.00 target price on shares of HealthEquity in a research note on Friday, September 20th. JMP Securities reiterated 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 boosted their price target on HealthEquity from $102.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $105.50.

HealthEquity Stock Performance

The company has a debt-to-equity ratio of 0.51, a quick ratio of 4.10 and a current ratio of 4.10. The company has a market capitalization of $8.36 billion, a PE ratio of 79.59, a P/E/G ratio of 1.57 and a beta of 0.52. The stock’s 50-day simple moving average is $84.00 and its 200 day simple moving average is $80.74.

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

Insiders Place Their Bets

In other news, Director Frank Corvino sold 1,039 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $96.10, for a total transaction of $99,847.90. Following the completion of the sale, the director now directly owns 3,784 shares of the company’s stock, valued at $363,642.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other HealthEquity news, Director Robert W. Selander sold 8,250 shares of the stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $82.98, for a total value of $684,585.00. Following the completion of the sale, the director now owns 54,719 shares in the company, valued at $4,540,582.62. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frank Corvino sold 1,039 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $96.10, for a total transaction of $99,847.90. Following the sale, the director now owns 3,784 shares in the company, valued at $363,642.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,536 shares of company stock worth $884,517. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On HealthEquity

A number of hedge funds have recently modified their holdings of HQY. Mackenzie Financial Corp lifted its stake in 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 purchasing an additional 325,906 shares during the last quarter. Generate Investment Management Ltd purchased a new position in HealthEquity in the 2nd quarter worth approximately $24,184,000. Vaughan Nelson Investment Management L.P. increased its stake in HealthEquity by 36.7% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 843,423 shares of the company’s stock valued at $69,034,000 after acquiring an additional 226,563 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of HealthEquity by 924.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 220,220 shares of the company’s stock valued at $18,983,000 after buying an additional 198,718 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of HealthEquity by 1.7% during the first quarter. Vanguard Group Inc. now owns 8,768,632 shares of the company’s stock worth $715,783,000 after acquiring an additional 149,133 shares in the last quarter. Institutional investors and hedge funds 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.