HealthEquity, Inc. (HQY) Cut to “Hold” at Zacks Investment Research
HealthEquity, Inc. (NASDAQ:HQY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
According to Zacks, “HealthEquity, Inc. is a technology-enabled services platforms that empower consumers to make healthcare saving and spending decisions. The Company’s platform provides an ecosystem where consumers can access their tax-advantaged healthcare savings, compare treatment options and pricing, evaluate and pay healthcare bills, receive personalized benefit and clinical information, earn wellness incentives, and make educated investment choices to grow their tax-advantaged healthcare savings. HealthEquity, Inc. is headquartered in Draper, Utah. “
HQY has been the topic of a number of other reports. BidaskClub lowered HealthEquity from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. Robert W. Baird reiterated a “hold” rating on shares of HealthEquity in a report on Thursday, September 21st. Cantor Fitzgerald reiterated a “buy” rating and set a $56.00 price target on shares of HealthEquity in a report on Monday, September 25th. TheStreet upgraded HealthEquity from a “c” rating to a “b” rating in a report on Monday, July 31st. Finally, Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $61.00 price target on shares of HealthEquity in a report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. HealthEquity currently has an average rating of “Buy” and an average target price of $57.17.
HealthEquity (NASDAQ HQY) traded up $0.26 during mid-day trading on Friday, hitting $50.71. The stock had a trading volume of 71,342 shares, compared to its average volume of 308,457. The company has a market cap of $3.06 billion, a P/E ratio of 80.19, a price-to-earnings-growth ratio of 2.21 and a beta of 1.77.
HealthEquity (NASDAQ:HQY) last posted its earnings results on Tuesday, September 5th. The company reported $0.27 earnings per share for the quarter, beating the Zacks’ 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 for the quarter, compared to analyst estimates of $55.66 million. During the same quarter last year, the company earned $0.16 earnings per share. The company’s revenue for the quarter was up 28.7% on a year-over-year basis. research analysts predict that HealthEquity will post 0.7 EPS for the current year.
In other HealthEquity news, VP Ashley Dreier sold 10,000 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $45.50, for a total value of $455,000.00. Following the sale, the vice president now directly owns 15,652 shares in the company, valued at $712,166. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Stephen Neeleman sold 8,500 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $46.65, for a total value of $396,525.00. Following the completion of the sale, the insider now owns 1,000 shares in the company, valued at $46,650. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 733,083 shares of company stock worth $37,471,827. Corporate insiders own 29.00% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Monashee Investment Management purchased a new position in shares of HealthEquity in the third quarter valued at $738,750. Principal Financial Group Inc. grew its position in shares of HealthEquity by 9.3% in the fourth quarter. Principal Financial Group Inc. now owns 238,025 shares of the company’s stock valued at $5,967,000 after purchasing an additional 20,169 shares in the last quarter. Tiverton Asset Management LLC grew its position in shares of HealthEquity by 919.0% in the third quarter. Tiverton Asset Management LLC now owns 233,800 shares of the company’s stock valued at $8,850,000 after purchasing an additional 210,855 shares in the last quarter. AGF Investments Inc. purchased a new position in shares of HealthEquity in the fourth quarter valued at $2,732,000. Finally, Comerica Bank grew its position in shares of HealthEquity by 5.7% in the fourth quarter. Comerica Bank now owns 45,732 shares of the company’s stock valued at $2,187,000 after purchasing an additional 2,474 shares in the last quarter. Institutional investors own 91.18% 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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