BTIG Research Increases HealthEquity (NASDAQ:HQY) Price Target to $130.00

HealthEquity (NASDAQ:HQY) had its price target hoisted by research analysts at BTIG Research from $110.00 to $130.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price target would indicate a potential upside of 31.34% from the company’s current price.

Several other brokerages also recently weighed in on HQY. Barrington Research restated an “outperform” rating and set a $105.00 target price on shares of HealthEquity in a research note on Friday, September 20th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of HealthEquity from $102.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Bank of America lifted their target price on shares of HealthEquity from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday. JMP Securities restated a “market outperform” rating and set a $105.00 price target on shares of HealthEquity in a research note on Wednesday, September 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $92.00 price objective on shares of HealthEquity in a research note on Wednesday, September 4th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, HealthEquity has an average rating of “Moderate Buy” and a consensus target price of $107.23.

HealthEquity Price Performance

HQY opened at $98.98 on Thursday. The firm has a market capitalization of $8.64 billion, a PE ratio of 82.48, a price-to-earnings-growth ratio of 1.48 and a beta of 0.52. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.10 and a quick ratio of 4.10. The business’s 50-day moving average is $85.02 and its two-hundred day moving average is $81.07. HealthEquity has a 1 year low of $62.10 and a 1 year high of $101.17.

HealthEquity (NASDAQ:HQY) last posted its earnings results on Tuesday, September 3rd. The company reported $0.66 EPS for the quarter, beating 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 analysts’ expectations of $284.48 million. Research analysts anticipate that HealthEquity will post 2.27 earnings per share for the current fiscal year.

Insider Buying and Selling at HealthEquity

In related news, Director Robert W. Selander sold 8,250 shares of the business’s 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 transaction, the director now directly owns 54,719 shares in the company, valued at $4,540,582.62. The trade was a 13.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Frank Corvino sold 1,247 shares of HealthEquity 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 $387,093.98. The trade was a 20.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,536 shares of company stock valued at $884,517. 2.20% of the stock is owned by insiders.

Institutional Investors Weigh In On HealthEquity

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