The Goldman Sachs Group Initiates Coverage on HealthEquity (NASDAQ:HQY)

Equities research analysts at The Goldman Sachs Group began coverage on shares of HealthEquity (NASDAQ:HQY) in a report released on Friday, Marketbeat Ratings reports. The brokerage set a “neutral” rating and a $108.00 price target on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 9.11% from the company’s previous close.

Several other brokerages have also recently issued reports on HQY. Royal Bank of Canada restated an “outperform” rating and issued a $92.00 target price on shares of HealthEquity in a report on Wednesday, September 4th. BTIG Research upped their price objective on shares of HealthEquity from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday. Bank of America lifted their target price on HealthEquity from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday. JMP Securities reissued a “market outperform” rating and issued a $105.00 target price on shares of HealthEquity in a report on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft raised 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. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $107.23.

HealthEquity Stock Performance

Shares of HealthEquity stock opened at $98.98 on Friday. HealthEquity has a one year low of $62.10 and a one year high of $101.17. The business has a 50-day simple moving average of $85.02 and a 200-day simple moving average of $81.08. 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 $8.64 billion, a PE ratio of 82.48, a P/E/G ratio of 1.55 and a beta of 0.52.

HealthEquity (NASDAQ:HQY) last released its quarterly earnings data on Tuesday, September 3rd. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.16. The business 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%. On average, equities research analysts forecast that HealthEquity will post 2.27 EPS for the current fiscal year.

Insider Activity

In related news, Director Robert W. Selander sold 8,250 shares of the firm’s stock in a transaction dated 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 13.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frank Corvino sold 1,039 shares of the business’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 transaction, the director now owns 3,784 shares in the company, valued at $363,642.40. The trade was a 21.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,536 shares of company stock valued at $884,517. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of HealthEquity by 1.7% in the first quarter. Vanguard Group Inc. now owns 8,768,632 shares of the company’s stock valued at $715,783,000 after purchasing an additional 149,133 shares during the period. Wasatch Advisors LP grew its holdings in shares of HealthEquity by 6.6% in the 3rd quarter. Wasatch Advisors LP now owns 7,758,890 shares of the company’s stock worth $635,065,000 after acquiring an additional 483,269 shares during the period. State Street Corp grew its holdings in HealthEquity by 0.8% in the third quarter. State Street Corp now owns 3,131,900 shares of the company’s stock valued at $256,346,000 after purchasing an additional 23,613 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of HealthEquity by 1.9% in the second quarter. Clearbridge Investments LLC now owns 2,377,204 shares of the company’s stock valued at $204,915,000 after buying an additional 43,491 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of HealthEquity by 16.0% during the 2nd quarter. Mackenzie Financial Corp now owns 2,364,521 shares of the company’s stock worth $203,822,000 after buying an additional 325,906 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.