HealthEquity Inc. (HQY) Receives Average Recommendation of “Buy” from Analysts
HealthEquity Inc. (NASDAQ:HQY) has received a consensus recommendation of “Buy” from the nine brokerages that are covering the firm. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $34.60.
HQY has been the subject of a number of analyst reports. Raymond James Financial Inc. increased their price target on HealthEquity from $32.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, September 12th. SunTrust Banks Inc. restated a “buy” rating on shares of HealthEquity in a research note on Thursday, September 8th. Zacks Investment Research downgraded HealthEquity from a “buy” rating to a “hold” rating in a research note on Friday, September 9th. Wells Fargo & Co. restated a “buy” rating on shares of HealthEquity in a research note on Wednesday, June 22nd. Finally, Barrington Research upped their price objective on HealthEquity from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, September 8th.
In other HealthEquity news, Director Ian Sacks sold 100,000 shares of the firm’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $30.27, for a total value of $3,027,000.00. Following the sale, the director now owns 223,417 shares of the company’s stock, valued at approximately $6,762,832.59. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Darcy G. Mott sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $29.13, for a total value of $291,300.00. Following the completion of the sale, the chief financial officer now directly owns 80,000 shares in the company, valued at approximately $2,330,400. The disclosure for this sale can be found here. 29.00% of the stock is owned by company insiders.
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Several hedge funds have recently added to or reduced their stakes in HQY. BlackRock Inc. boosted its stake in HealthEquity by 56.5% in the second quarter. BlackRock Inc. now owns 3,594 shares of the company’s stock valued at $109,000 after buying an additional 1,297 shares during the last quarter. PineBridge Investments L.P. boosted its stake in HealthEquity by 4.3% in the second quarter. PineBridge Investments L.P. now owns 4,482 shares of the company’s stock valued at $137,000 after buying an additional 186 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in HealthEquity by 43.9% in the second quarter. Teacher Retirement System of Texas now owns 6,061 shares of the company’s stock valued at $184,000 after buying an additional 1,850 shares during the last quarter. Denver Investment Advisors LLC acquired a new stake in HealthEquity during the second quarter valued at $203,000. Finally, Mason Street Advisors LLC acquired a new stake in HealthEquity during the second quarter valued at $210,000. 90.54% of the stock is currently owned by hedge funds and other institutional investors.
HealthEquity (NASDAQ:HQY) traded down 2.47% on Thursday, reaching $36.31. The company had a trading volume of 304,363 shares. The stock’s 50-day moving average price is $35.24 and its 200-day moving average price is $29.33. HealthEquity has a 12-month low of $15.80 and a 12-month high of $38.80. The stock has a market capitalization of $2.13 billion, a P/E ratio of 93.10 and a beta of 1.62.
HealthEquity (NASDAQ:HQY) last released its quarterly earnings results on Tuesday, September 6th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. The business earned $44.20 million during the quarter. HealthEquity had a return on equity of 10.89% and a net margin of 15.21%. The company’s quarterly revenue was up 44.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.08 earnings per share. On average, equities research analysts anticipate that HealthEquity will post $0.51 EPS for the current fiscal year.
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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