JPMorgan Chase & Co. Cuts HealthEquity (NASDAQ:HQY) Price Target to $123.00

HealthEquity (NASDAQ:HQY) had its target price reduced by JPMorgan Chase & Co. from $129.00 to $123.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages also recently commented on HQY. BMO Capital Markets set a $85.00 price objective on shares of HealthEquity in a research report on Tuesday, February 24th. Barclays dropped their target price on shares of HealthEquity from $118.00 to $110.00 and set an “overweight” rating for the company in a report on Wednesday, February 18th. Weiss Ratings reissued a “hold (c+)” rating on shares of HealthEquity in a report on Thursday, January 22nd. Wall Street Zen upgraded HealthEquity from a “hold” rating to a “buy” rating in a research report on Monday, January 19th. Finally, UBS Group set a $110.00 price objective on HealthEquity in a research note on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $110.36.

HealthEquity Trading Down 0.2%

Shares of NASDAQ:HQY opened at $80.96 on Wednesday. The stock has a 50 day moving average of $80.32 and a 200 day moving average of $90.08. The company has a market cap of $6.84 billion, a PE ratio of 32.91, a price-to-earnings-growth ratio of 1.48 and a beta of 0.26. HealthEquity has a 12-month low of $72.76 and a 12-month high of $116.65. The company has a current ratio of 3.27, a quick ratio of 4.13 and a debt-to-equity ratio of 0.45.

HealthEquity (NASDAQ:HQY) last released its earnings results on Tuesday, March 17th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. HealthEquity had a net margin of 16.39% and a return on equity of 13.86%. The company had revenue of $334.59 million for the quarter, compared to analysts’ expectations of $332.48 million. The business’s revenue was up 7.3% on a year-over-year basis. As a group, equities research analysts expect that HealthEquity will post 2.32 EPS for the current year.

Institutional Investors Weigh In On HealthEquity

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in HealthEquity by 2.9% during the third quarter. Vanguard Group Inc. now owns 8,746,255 shares of the company’s stock valued at $828,883,000 after purchasing an additional 243,549 shares during the last quarter. Wasatch Advisors LP grew its stake in shares of HealthEquity by 4.5% in the 4th quarter. Wasatch Advisors LP now owns 6,589,646 shares of the company’s stock worth $603,677,000 after buying an additional 281,971 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of HealthEquity by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 2,201,232 shares of the company’s stock worth $201,685,000 after buying an additional 5,671 shares during the last quarter. Westfield Capital Management Co. LP raised its position in shares of HealthEquity by 13.7% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,952,452 shares of the company’s stock valued at $178,864,000 after buying an additional 235,794 shares in the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in shares of HealthEquity during the 4th quarter valued at about $169,956,000. Hedge funds and other institutional investors own 99.55% of the company’s stock.

HealthEquity Company Profile

HealthEquity, Inc (NASDAQ: HQY) is a leading administrator of consumer-directed health accounts and related benefit solutions in the United States. Founded in 2002 and headquartered in Draper, Utah, the company specializes in health savings accounts (HSAs) and offers complementary services such as flexible spending accounts (FSAs), health reimbursement arrangements (HRAs), COBRA administration and commuter benefits. Through its technology-driven platform, HealthEquity enables employers, health plans and individuals to streamline account management, improve cost transparency and encourage more informed healthcare spending.

Serving millions of members across all 50 states, HealthEquity leverages an open-architecture ecosystem that integrates with health plans, payroll providers and financial institutions.