HealthEquity, Inc. (HQY) Rating Increased to Sell at BidaskClub
HealthEquity, Inc. (NASDAQ:HQY) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Friday.
A number of other equities analysts also recently issued reports on the stock. Cantor Fitzgerald reissued a “buy” rating and issued a $56.00 price target on shares of HealthEquity in a research note on Tuesday, August 29th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $61.00 price target (up from $57.00) on shares of HealthEquity in a research note on Monday, June 12th. Chardan Capital increased their price target 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. Zacks Investment Research raised shares of HealthEquity from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research note on Wednesday, July 12th. Finally, TheStreet raised shares of HealthEquity from a “c” rating to a “b” rating in a research note on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $56.50.
Shares of HealthEquity (NASDAQ HQY) traded down 1.53% during mid-day trading on Friday, hitting $45.12. The stock had a trading volume of 1,500,491 shares. The stock’s 50-day moving average is $44.62 and its 200 day moving average is $45.93. HealthEquity has a 1-year low of $30.34 and a 1-year high of $54.95. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 84.81 and a beta of 1.75.
HealthEquity (NASDAQ:HQY) last released its quarterly earnings results on Tuesday, September 5th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.13. HealthEquity had a net margin of 20.27% and a return on equity of 13.93%. The company had revenue of $56.90 million during the quarter, compared to the consensus estimate of $55.66 million. During the same period in the prior year, the firm earned $0.16 earnings per share. HealthEquity’s revenue was up 28.7% on a year-over-year basis. Equities research analysts predict that HealthEquity will post $0.71 EPS for the current fiscal year.
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In other news, Director Frank Medici sold 537,102 shares of the stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $51.24, for a total transaction of $27,521,106.48. Following the sale, the director now owns 6,381 shares in the company, valued at $326,962.44. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Jon Soldan sold 25,000 shares of the stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $40.68, for a total transaction of $1,017,000.00. Following the sale, the vice president now owns 30,652 shares in the company, valued at approximately $1,246,923.36. The disclosure for this sale can be found here. Insiders have sold 1,976,064 shares of company stock valued at $100,665,521 in the last ninety days. Insiders own 29.00% of the company’s stock.
Several large investors have recently bought and sold shares of HQY. BlackRock Inc. grew its holdings 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 valued at $237,293,000 after buying an additional 5,586,414 shares during the last quarter. Janus Henderson Group PLC grew its holdings 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 valued at $105,292,000 after buying an additional 1,822,732 shares during the last quarter. FMR LLC grew its holdings in shares of HealthEquity by 45.6% during the second quarter. FMR LLC now owns 2,235,150 shares of the company’s stock valued at $111,378,000 after buying an additional 699,728 shares during the last quarter. TimesSquare Capital Management LLC purchased a new stake in shares of HealthEquity during the second quarter valued at approximately $25,822,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of HealthEquity by 47.9% during the first quarter. Bank of New York Mellon Corp now owns 816,504 shares of the company’s stock valued at $34,661,000 after buying an additional 264,604 shares during the last quarter. Hedge funds and other institutional investors own 91.86% 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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