Healthequity’s (HQY) Buy Rating Reaffirmed at Cantor Fitzgerald
Healthequity (NASDAQ:HQY)‘s stock had its “buy” rating restated by research analysts at Cantor Fitzgerald in a report issued on Tuesday. They currently have a $56.00 price target on the stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 15.49% from the stock’s current price.
A number of other equities research analysts also recently issued reports on HQY. Zacks Investment Research raised shares of Healthequity from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Wednesday, October 11th. BidaskClub downgraded shares of Healthequity from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. Oppenheimer reissued a “buy” rating and issued a $61.00 price target on shares of Healthequity in a research note on Wednesday, September 6th. Robert W. Baird reissued a “hold” rating on shares of Healthequity in a research note on Thursday, September 21st. Finally, Chardan Capital boosted their price target on shares of Healthequity from $58.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Healthequity currently has a consensus rating of “Buy” and a consensus target price of $58.33.
Shares of Healthequity (NASDAQ HQY) traded down $0.37 during midday trading on Tuesday, hitting $48.49. 516,400 shares of the stock traded hands, compared to its average volume of 522,736. Healthequity has a 1-year low of $37.62 and a 1-year high of $55.31. The firm has a market capitalization of $2,955.48, a price-to-earnings ratio of 77.56, a price-to-earnings-growth ratio of 2.14 and a beta of 1.74.
In related news, Director Frank Medici sold 316,644 shares of Healthequity stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $51.96, for a total value of $16,452,822.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Berkley Capital, Llc sold 373,500 shares of Healthequity stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $53.21, for a total transaction of $19,873,935.00. The disclosure for this sale can be found here. Insiders sold 1,743,212 shares of company stock valued at $91,145,351 in the last 90 days. Company insiders own 19.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of HQY. Zions Bancorporation acquired a new position in Healthequity during the 3rd quarter worth approximately $119,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Healthequity by 105.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,544 shares of the company’s stock worth $127,000 after acquiring an additional 1,308 shares in the last quarter. Riverhead Capital Management LLC grew its holdings in Healthequity by 75.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,629 shares of the company’s stock worth $131,000 after acquiring an additional 1,129 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Healthequity by 7.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,686 shares of the company’s stock worth $134,000 after acquiring an additional 191 shares in the last quarter. Finally, Fortaleza Asset Management Inc. acquired a new position in Healthequity during the 2nd quarter worth approximately $138,000. Institutional investors own 98.60% of the company’s stock.
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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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