Zacks Investment Research upgraded shares of HealthEquity, Inc. (NASDAQ:HQY) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning. They currently have $60.00 target price on the stock.
According to Zacks, “HealthEquity, Inc. is a technology-enabled services platforms that empower consumers to make healthcare saving and spending decisions. The Company’s platform provides an ecosystem where consumers can access their tax-advantaged healthcare savings, compare treatment options and pricing, evaluate and pay healthcare bills, receive personalized benefit and clinical information, earn wellness incentives, and make educated investment choices to grow their tax-advantaged healthcare savings. HealthEquity, Inc. is headquartered in Draper, Utah. “
Other equities research analysts have also recently issued reports about the company. BidaskClub raised HealthEquity from a sell rating to a hold rating in a research note on Thursday, September 28th. TheStreet raised HealthEquity from a c rating to a b rating in a research note on Monday, July 31st. Cantor Fitzgerald reissued a buy rating and set a $56.00 price objective on shares of HealthEquity in a research note on Tuesday, August 29th. Robert W. Baird reissued a hold rating on shares of HealthEquity in a research note on Thursday, September 21st. Finally, Oppenheimer Holdings, Inc. reissued a buy rating and set a $61.00 price objective on shares of HealthEquity in a research note on Wednesday, September 6th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. HealthEquity presently has an average rating of Buy and an average price target of $57.50.
Shares of HealthEquity (NASDAQ HQY) opened at $49.74 on Wednesday. HealthEquity has a twelve month low of $37.62 and a twelve month high of $55.31. The stock has a market capitalization of $3,008.72, a PE ratio of 78.95, a PEG ratio of 2.18 and a beta of 1.77.
HealthEquity (NASDAQ:HQY) last issued its earnings results on Tuesday, September 5th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.13. HealthEquity had a return on equity of 13.93% and a net margin of 20.27%. The firm had revenue of $56.90 million for the quarter, compared to analysts’ expectations of $55.66 million. During the same period in the previous year, the firm posted $0.16 earnings per share. The business’s revenue was up 28.7% compared to the same quarter last year. equities analysts predict that HealthEquity will post 0.7 EPS for the current fiscal year.
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In other news, major shareholder Berkley Capital, Llc sold 1,100 shares of the company’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $51.95, for a total transaction of $57,145.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frank Medici sold 316,644 shares of the company’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $51.96, for a total value of $16,452,822.24. The disclosure for this sale can be found here. Insiders have sold 1,572,091 shares of company stock worth $81,916,281 over the last three months. 29.00% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. bought a new position in shares of HealthEquity during the first quarter valued at approximately $106,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of HealthEquity by 105.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,544 shares of the company’s stock valued at $127,000 after buying an additional 1,308 shares during the last quarter. Riverhead Capital Management LLC grew its stake in shares of HealthEquity by 75.3% during the second quarter. Riverhead Capital Management LLC now owns 2,629 shares of the company’s stock valued at $131,000 after buying an additional 1,129 shares during the last quarter. Exane Derivatives purchased a new stake in shares of HealthEquity in the second quarter valued at approximately $132,000. Finally, Fortaleza Asset Management Inc. purchased a new stake in shares of HealthEquity in the second quarter valued at approximately $138,000. 91.40% of the stock is currently owned by hedge funds and other institutional investors.
HealthEquity, Inc provides a range of solutions for managing healthcare accounts (Health Savings Accounts (HSAs), Health Reimbursement Arrangements (HRAs) and Flexible Spending Accounts (FSAs)) for health plans, insurance companies and third-party administrators. The Company is engaged in technology-enabled services platforms that allow consumers to make healthcare saving and spending decisions.
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