HealthEquity (NASDAQ:HQY) Price Target Raised to $120.00

HealthEquity (NASDAQ:HQY) had its price target increased by Bank of America from $100.00 to $120.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently weighed in on HQY. 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. JMP Securities reaffirmed a “market outperform” rating and issued a $105.00 target price on shares of HealthEquity in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of HealthEquity from $102.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, 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. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, HealthEquity presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.23.

HealthEquity Stock Up 3.4 %

Shares of HealthEquity stock opened at $98.98 on Wednesday. HealthEquity has a 52-week low of $62.10 and a 52-week high of $101.17. The company has a 50 day moving average of $85.02 and a 200 day moving average of $81.07. The company has a quick ratio of 4.10, a current ratio of 4.10 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $8.64 billion, a P/E ratio of 82.48, a P/E/G ratio of 1.48 and a beta of 0.52.

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

Insiders Place Their Bets

In related news, Director Frank Corvino sold 1,247 shares of the business’s 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 sale, the director now directly owns 4,823 shares in the company, valued at $387,093.98. The trade was a 20.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert W. Selander sold 8,250 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $82.98, for a total transaction of $684,585.00. Following the completion of the transaction, the director now owns 54,719 shares in the company, valued at approximately $4,540,582.62. This trade represents a 13.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,536 shares of company stock worth $884,517. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HQY. International Assets Investment Management LLC acquired a new position in shares of HealthEquity during the 2nd quarter valued at about $35,000. Paladin Wealth LLC acquired a new position in shares of HealthEquity during the 3rd quarter valued at about $39,000. GAMMA Investing LLC increased its stake in shares of HealthEquity by 114.8% during the 2nd quarter. GAMMA Investing LLC now owns 595 shares of the company’s stock valued at $51,000 after acquiring an additional 318 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of HealthEquity during the 2nd quarter valued at about $73,000. Finally, Quarry LP increased its stake in shares of HealthEquity by 418.8% during the 3rd quarter. Quarry LP now owns 1,349 shares of the company’s stock valued at $110,000 after acquiring an additional 1,089 shares during the last quarter. 99.55% of the stock is currently owned by hedge funds and other 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.