HealthEquity’s (HQY) Buy Rating Reiterated at Cantor Fitzgerald
HealthEquity, Inc. (NASDAQ:HQY)‘s stock had its “buy” rating restated by equities researchers at Cantor Fitzgerald in a research note issued on Monday. They currently have a $56.00 target price on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 18.27% from the company’s previous close.
The analysts wrote, “Remains confident that HSA language will be included in subsequent legislative action, even if current ACA legislation fails to advance.””
HQY has been the topic of a number of other reports. TheStreet raised shares of HealthEquity from a “c” rating to a “b” rating in a report on Monday, July 31st. Zacks Investment Research lowered shares of HealthEquity from a “buy” rating to a “hold” rating in a report on Friday, August 4th. BidaskClub raised shares of HealthEquity from a “strong sell” rating to a “sell” rating in a report on Friday, September 15th. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $61.00 target price on shares of HealthEquity in a report on Wednesday, September 6th. Finally, Chardan Capital boosted their target price on shares of HealthEquity from $53.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, June 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. HealthEquity has an average rating of “Buy” and an average price target of $56.50.
Shares of HealthEquity (NASDAQ:HQY) traded down 0.49% during trading on Monday, reaching $47.12. 548,599 shares of the company’s stock were exchanged. HealthEquity has a 52-week low of $30.34 and a 52-week high of $54.95. The stock’s 50 day moving average price is $44.62 and its 200-day moving average price is $46.01. The stock has a market cap of $2.85 billion, a PE ratio of 69.91 and a beta of 1.75.
HealthEquity (NASDAQ:HQY) last posted its earnings results on Tuesday, September 5th. The company reported $0.27 earnings per share 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 firm had revenue of $56.90 million for the quarter, compared to analyst estimates of $55.66 million. During the same period in the previous year, the firm posted $0.16 EPS. The company’s revenue for the quarter was up 28.7% compared to the same quarter last year. On average, equities research analysts forecast that HealthEquity will post $0.71 EPS for the current year.
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In other news, VP Darcy G. Mott sold 9,500 shares of the company’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $46.79, for a total value of $444,505.00. Following the sale, the vice president now directly owns 87,500 shares of the company’s stock, valued at approximately $4,094,125. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Frank Medici sold 537,102 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 6,381 shares in the company, valued at $326,962.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,574,500 shares of company stock worth $79,719,804. Insiders own 19.00% of the company’s stock.
Several large investors have recently bought and sold shares of HQY. BlackRock Inc. boosted its stake in shares of HealthEquity by 157,852.9% in the 1st quarter. BlackRock Inc. now owns 5,589,953 shares of the company’s stock valued at $237,293,000 after purchasing an additional 5,586,414 shares during the last quarter. Janus Henderson Group PLC boosted its stake in 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 acquiring an additional 1,822,732 shares in the last quarter. Peregrine Capital Management LLC bought a new position in HealthEquity during the third quarter worth $28,908,000. FMR LLC boosted its stake in 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 acquiring an additional 699,728 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in HealthEquity by 26.3% during the second quarter. Vanguard Group Inc. now owns 3,150,828 shares of the company’s stock worth $95,739,000 after acquiring an additional 656,849 shares in the last quarter. 90.97% of the stock is currently owned by institutional investors.
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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