HealthEquity (NASDAQ:HQY) Stock Price Expected to Rise, Bank of America Analyst Says

HealthEquity (NASDAQ:HQY) had its price target boosted by Bank of America from $100.00 to $120.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also commented on the company. Deutsche Bank Aktiengesellschaft upped their price objective on HealthEquity from $102.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Barrington Research restated an “outperform” rating and issued a $105.00 price objective on shares of HealthEquity in a report on Friday, September 20th. Royal Bank of Canada restated an “outperform” rating and set a $92.00 target price on shares of HealthEquity in a research report on Wednesday, September 4th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $105.00 price target on shares of HealthEquity in a research note on Wednesday, September 4th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $105.50.

HealthEquity Trading Up 0.7 %

HQY stock traded up $0.71 during midday trading on Wednesday, hitting $95.51. 2,547 shares of the company’s stock were exchanged, compared to its average volume of 613,051. HealthEquity has a one year low of $62.10 and a one year high of $101.17. 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 cap of $8.34 billion, a PE ratio of 79.00, a price-to-earnings-growth ratio of 1.57 and a beta of 0.52. The stock’s fifty day moving average price is $84.24 and its 200-day moving average price is $80.84.

HealthEquity (NASDAQ:HQY) last announced its earnings results on Tuesday, September 3rd. The company reported $0.66 earnings per share (EPS) 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 business had revenue of $299.93 million for the quarter, compared to analyst estimates of $284.48 million. Research analysts predict that HealthEquity will post 2.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Frank Corvino sold 1,247 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $80.26, for a total transaction of $100,084.22. Following the completion of the transaction, the director now directly owns 4,823 shares of the company’s stock, valued at approximately $387,093.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Frank Corvino sold 1,247 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $80.26, for a total value of $100,084.22. Following the completion of the transaction, the director now owns 4,823 shares of the company’s stock, valued at approximately $387,093.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert W. Selander sold 8,250 shares of HealthEquity stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $82.98, for a total value of $684,585.00. Following the completion of the transaction, the director now owns 54,719 shares of the company’s stock, valued at approximately $4,540,582.62. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,536 shares of company stock worth $884,517 over the last quarter. 2.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On HealthEquity

A number of institutional investors and hedge funds have recently modified their holdings of HQY. Janney Montgomery Scott LLC lifted its position in shares of HealthEquity by 27.4% during the first quarter. Janney Montgomery Scott LLC now owns 3,970 shares of the company’s stock worth $324,000 after purchasing an additional 855 shares during the last quarter. Swiss National Bank boosted its position in HealthEquity by 0.4% in the 1st quarter. Swiss National Bank now owns 169,300 shares of the company’s stock valued at $13,820,000 after buying an additional 600 shares during the period. Headlands Technologies LLC bought a new position in HealthEquity in the 1st quarter worth about $130,000. US Bancorp DE increased its position in shares of HealthEquity by 4.8% during the first quarter. US Bancorp DE now owns 11,489 shares of the company’s stock worth $938,000 after acquiring an additional 521 shares during the period. Finally, ProShare Advisors LLC raised its stake in shares of HealthEquity by 5.7% during the first quarter. ProShare Advisors LLC now owns 19,477 shares of the company’s stock valued at $1,590,000 after acquiring an additional 1,053 shares in the last quarter. 99.55% of the stock is owned by institutional investors.

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.