BidaskClub cut shares of HealthEquity, Inc. (NASDAQ:HQY) from a buy rating to a hold rating in a research note published on Monday, July 24th.
A number of other research analysts have also weighed in on HQY. Zacks Investment Research raised shares of HealthEquity from a hold rating to a buy rating and set a $54.00 price target on the stock in a research note on Wednesday, July 12th. Chardan Capital raised their target price on shares of HealthEquity from $53.00 to $57.00 and gave the stock a buy rating in a research note on Wednesday, June 7th. Oppenheimer Holdings, Inc. reissued an outperform rating and issued a $61.00 target price (up from $57.00) on shares of HealthEquity in a research note on Monday, June 12th. Finally, Cantor Fitzgerald raised their target price on shares of HealthEquity from $55.00 to $56.00 and gave the stock an overweight rating in a research note on Wednesday, July 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $50.22.
Shares of HealthEquity (HQY) traded down 2.62% on Monday, reaching $44.93. The company’s stock had a trading volume of 579,253 shares. The stock has a 50-day moving average of $48.74 and a 200 day moving average of $46.12. HealthEquity has a 52-week low of $28.39 and a 52-week high of $54.95. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 84.45 and a beta of 1.73.
HealthEquity (NASDAQ:HQY) last posted its earnings results on Tuesday, June 6th. The company reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.03. HealthEquity had a return on equity of 11.61% and a net margin of 17.04%. The firm had revenue of $55.40 million for the quarter, compared to analysts’ expectations of $54.77 million. During the same period last year, the firm earned $0.15 EPS. The company’s quarterly revenue was up 25.9% on a year-over-year basis. On average, equities research analysts forecast that HealthEquity will post $0.58 earnings per share for the current year.
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In related news, Director Frank Medici sold 210,906 shares of HealthEquity stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $52.03, for a total value of $10,973,439.18. Following the completion of the sale, the director now owns 6,381 shares in the company, valued at approximately $332,003.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Neeleman sold 8,500 shares of HealthEquity stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $50.83, for a total transaction of $432,055.00. Following the completion of the sale, the insider now owns 1,000 shares of the company’s stock, valued at approximately $50,830. The disclosure for this sale can be found here. Insiders sold a total of 2,440,821 shares of company stock valued at $125,325,268 in the last quarter. 29.00% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. Alps Advisors Inc. increased its position in HealthEquity by 0.3% in the second quarter. Alps Advisors Inc. now owns 10,729 shares of the company’s stock valued at $535,000 after buying an additional 28 shares during the period. Neuburgh Advisers LLC increased its position in HealthEquity by 0.4% in the first quarter. Neuburgh Advisers LLC now owns 31,968 shares of the company’s stock valued at $1,357,000 after buying an additional 112 shares during the period. Glen Harbor Capital Management LLC increased its position in HealthEquity by 0.4% in the first quarter. Glen Harbor Capital Management LLC now owns 43,956 shares of the company’s stock valued at $1,866,000 after buying an additional 154 shares during the period. Oppenheimer Asset Management Inc. increased its position in HealthEquity by 7.7% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,686 shares of the company’s stock valued at $134,000 after buying an additional 191 shares during the period. Finally, Elkfork Partners LLC increased its position in HealthEquity by 0.4% in the first quarter. Elkfork Partners LLC now owns 55,944 shares of the company’s stock valued at $2,375,000 after buying an additional 196 shares during the period. Institutional investors and hedge funds own 90.26% of the company’s stock.
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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