HealthEquity, Inc. (HQY) Cut to “Sell” at BidaskClub
HealthEquity, Inc. (NASDAQ:HQY) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
Several other equities research analysts have also weighed in on HQY. Zacks Investment Research raised HealthEquity from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Wednesday, October 11th. TheStreet raised HealthEquity from a “c” rating to a “b” rating in a report on Monday, July 31st. Robert W. Baird reissued a “hold” rating on shares of HealthEquity in a report on Thursday, September 21st. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $61.00 price objective on shares of HealthEquity in a report on Wednesday, September 6th. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $56.00 price objective on shares of HealthEquity in a report on Tuesday, September 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $57.17.
Shares of HealthEquity (NASDAQ HQY) traded up 0.60% during midday trading on Wednesday, hitting $50.13. 279,290 shares of the stock were exchanged. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of 74.38 and a beta of 1.80. The stock’s 50-day moving average price is $47.93 and its 200-day moving average price is $47.08. HealthEquity has a 1-year low of $30.34 and a 1-year high of $54.95.
HealthEquity (NASDAQ:HQY) last announced its quarterly earnings data on Tuesday, September 5th. The company reported $0.27 earnings per share for the quarter, topping the 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 company had revenue of $56.90 million during the quarter, compared to analyst estimates of $55.66 million. During the same quarter last year, the firm posted $0.16 EPS. The firm’s revenue for the quarter was up 28.7% on a year-over-year basis. On average, analysts forecast that HealthEquity will post $0.71 EPS for the current year.
In other HealthEquity news, major shareholder Berkley Capital, Llc sold 29,032 shares of HealthEquity stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $51.97, for a total transaction of $1,508,793.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Darcy G. Mott sold 9,500 shares of HealthEquity stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $42.00, for a total value of $399,000.00. Following the sale, the vice president now owns 84,500 shares of the company’s stock, valued at approximately $3,549,000. The disclosure for this sale can be found here. Insiders have sold a total of 715,683 shares of company stock valued at $36,594,008 in the last ninety days. Insiders own 19.00% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Wasatch Advisors Inc. boosted its position in shares of HealthEquity by 2.2% during the 2nd quarter. Wasatch Advisors Inc. now owns 2,442,180 shares of the company’s stock valued at $121,694,000 after acquiring an additional 52,885 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of HealthEquity by 5.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 113,534 shares of the company’s stock valued at $5,657,000 after acquiring an additional 6,095 shares during the last quarter. Amussen Hunsaker & Associates LLC bought a new stake in shares of HealthEquity during the 2nd quarter valued at about $11,598,000. 1st Global Advisors Inc. bought a new stake in shares of HealthEquity during the 2nd quarter valued at about $213,000. Finally, Piedmont Investment Advisors LLC bought a new stake in shares of HealthEquity during the 2nd quarter valued at about $478,000. Hedge funds and other institutional investors own 90.97% of the company’s stock.
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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