HealthEquity (NASDAQ:HQY) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of HealthEquity (NASDAQ:HQY) from a buy rating to a hold rating in a research report released on Saturday morning.

HQY has been the subject of several other reports. Citigroup restated an “outperform” rating on shares of HealthEquity in a research note on Thursday, December 4th. Jefferies Financial Group set a $108.00 price target on HealthEquity in a research note on Thursday, February 19th. Weiss Ratings reissued a “hold (c+)” rating on shares of HealthEquity in a report on Thursday, January 22nd. KeyCorp raised their price objective on HealthEquity from $120.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, January 8th. Finally, Royal Bank Of Canada dropped their price objective on HealthEquity from $110.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, March 18th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $110.36.

HealthEquity Price Performance

Shares of HQY stock opened at $81.48 on Friday. The company has a market capitalization of $6.88 billion, a PE ratio of 33.12, a price-to-earnings-growth ratio of 1.50 and a beta of 0.26. The firm has a fifty day simple moving average of $79.96 and a 200-day simple moving average of $89.59. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.45. HealthEquity has a twelve month low of $72.76 and a twelve month high of $116.65.

HealthEquity (NASDAQ:HQY) last released its quarterly earnings results on Tuesday, March 17th. The company reported $0.95 earnings per share for the quarter, beating 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 business had revenue of $334.59 million during the quarter, compared to analyst estimates of $332.48 million. HealthEquity’s revenue was up 7.3% on a year-over-year basis. Equities research analysts anticipate that HealthEquity will post 2.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On HealthEquity

Hedge funds and other institutional investors have recently modified their holdings of the stock. Simplify Asset Management Inc. bought a new stake in HealthEquity in the third quarter valued at $1,498,000. 12th Street Asset Management Company LLC boosted its stake in HealthEquity by 114.4% during the 3rd quarter. 12th Street Asset Management Company LLC now owns 272,068 shares of the company’s stock valued at $25,784,000 after purchasing an additional 145,151 shares during the period. Oppenheimer Asset Management Inc. grew its position in HealthEquity by 45.5% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 155,543 shares of the company’s stock worth $14,741,000 after purchasing an additional 48,621 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of HealthEquity by 21.3% in the third quarter. Bessemer Group Inc. now owns 349,342 shares of the company’s stock valued at $33,108,000 after purchasing an additional 61,317 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of HealthEquity by 11.5% during the third quarter. JPMorgan Chase & Co. now owns 1,205,077 shares of the company’s stock valued at $114,205,000 after buying an additional 124,283 shares during the last quarter. 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.