HealthEquity, Inc. (HQY) Raised to Buy at Zacks Investment Research

HealthEquity, Inc. (NASDAQ:HQY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, November 8th. The firm presently has a $60.00 target price on the stock. Zacks Investment Research‘s price target indicates a potential upside of 18.11% from the stock’s current price.

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. “

A number of other research analysts have also recently commented on HQY. BidaskClub cut HealthEquity from a “buy” rating to a “hold” rating in a report on Monday, July 24th. TheStreet upgraded HealthEquity from a “c” rating to a “b” rating in a report on Monday, July 31st. Cantor Fitzgerald reiterated a “buy” rating and issued a $56.00 price objective on shares of HealthEquity in a report on Tuesday, August 29th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $61.00 price objective on shares of HealthEquity in a report on Wednesday, September 6th. Finally, Robert W. Baird reiterated a “hold” rating on shares of HealthEquity in a report on Thursday, September 21st. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $57.50.

Shares of HealthEquity (NASDAQ HQY) traded down $0.70 during trading on Wednesday, hitting $50.80. The stock had a trading volume of 239,610 shares, compared to its average volume of 526,256. The firm has a market cap of $3,115.18, a PE ratio of 81.75, a P/E/G ratio of 2.26 and a beta of 1.77. HealthEquity has a fifty-two week low of $37.62 and a fifty-two week high of $55.31.

HealthEquity (NASDAQ:HQY) last issued its earnings results on Tuesday, September 5th. The company reported $0.27 earnings per share 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 business 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 EPS. The business’s revenue for the quarter was up 28.7% compared to the same quarter last year. equities research analysts expect that HealthEquity will post 0.7 earnings per share for the current year.

In other news, major shareholder Berkley Capital, Llc sold 77,221 shares of the company’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $51.31, for a total transaction of $3,962,209.51. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Ashley Dreier sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $45.50, for a total value of $455,000.00. Following the sale, the vice president now directly owns 15,652 shares in the company, valued at approximately $712,166. The disclosure for this sale can be found here. In the last three months, insiders sold 1,717,212 shares of company stock worth $89,735,074. 29.00% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of HQY. BlackRock Inc. increased its position in shares of HealthEquity by 157,852.9% during the first quarter. BlackRock Inc. now owns 5,589,953 shares of the company’s stock worth $237,293,000 after acquiring an additional 5,586,414 shares during the period. Janus Henderson Group PLC grew its stake in shares of HealthEquity by 627.9% during the second quarter. Janus Henderson Group PLC now owns 2,113,030 shares of the company’s stock worth $105,292,000 after purchasing an additional 1,822,732 shares in the last quarter. Eagle Asset Management Inc. acquired a new position in shares of HealthEquity during the third quarter worth $36,875,000. FMR LLC grew its stake in shares of HealthEquity by 45.6% during the second quarter. FMR LLC now owns 2,235,150 shares of the company’s stock worth $111,378,000 after purchasing an additional 699,728 shares in the last quarter. Finally, TimesSquare Capital Management LLC acquired a new position in shares of HealthEquity during the second quarter worth $25,822,000. 93.19% of the stock is currently owned by institutional investors and hedge funds.

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HealthEquity Company Profile

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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