HealthEquity (NASDAQ:HQY) Given New $100.00 Price Target at Bank of America

HealthEquity (NASDAQ:HQY) had its price target lowered by Bank of America from $105.00 to $100.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

HQY has been the subject of a number of other reports. Barrington Research restated an outperform rating and issued a $105.00 target price on shares of HealthEquity in a research note on Friday, August 30th. Royal Bank of Canada reaffirmed an outperform rating and set a $92.00 price objective on shares of HealthEquity in a report on Tuesday, June 4th. JMP Securities upped their target price on shares of HealthEquity from $101.00 to $105.00 and gave the company a market outperform rating in a research note on Tuesday, June 4th. Wells Fargo & Company raised their price target on shares of HealthEquity from $107.00 to $110.00 and gave the stock an overweight rating in a research note on Thursday, June 20th. Finally, Raymond James lifted their price objective on HealthEquity from $100.00 to $105.00 and gave the company an outperform rating in a report on Friday, June 7th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $103.83.

HealthEquity Stock Performance

NASDAQ:HQY opened at $82.66 on Wednesday. The firm’s 50-day moving average is $77.32 and its 200-day moving average is $79.70. The company has a market cap of $7.19 billion, a price-to-earnings ratio of 89.85, a PEG ratio of 1.34 and a beta of 0.52. The company has a debt-to-equity ratio of 0.44, a quick ratio of 4.39 and a current ratio of 4.39. HealthEquity has a 52-week low of $61.81 and a 52-week high of $88.26.

HealthEquity (NASDAQ:HQY) last posted its quarterly earnings results on Monday, June 3rd. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.47 by $0.08. HealthEquity had a return on equity of 7.77% and a net margin of 7.71%. The firm had revenue of $287.60 million during the quarter, compared to analysts’ expectations of $278.78 million. Equities research analysts anticipate that HealthEquity will post 2.12 earnings per share for the current year.

Insider Activity

In other HealthEquity news, Vice Chairman Stephen Neeleman sold 2,080 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $85.01, for a total value of $176,820.80. Following the completion of the transaction, the insider now directly owns 90,515 shares of the company’s stock, valued at $7,694,680.15. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other HealthEquity news, Vice Chairman Stephen Neeleman sold 2,080 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $85.01, for a total value of $176,820.80. Following the transaction, the insider now directly owns 90,515 shares in the company, valued at approximately $7,694,680.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jon Kessler sold 32,326 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $82.83, for a total value of $2,677,562.58. Following the sale, the chief executive officer now owns 232,176 shares of the company’s stock, valued at approximately $19,231,138.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,111 shares of company stock worth $6,280,446. 2.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Rise Advisors LLC acquired a new position in shares of HealthEquity in the 1st quarter valued at $28,000. Cape Investment Advisory Inc. acquired a new position in HealthEquity in the fourth quarter valued at about $27,000. International Assets Investment Management LLC bought a new position in HealthEquity during the second quarter worth about $35,000. YHB Investment Advisors Inc. acquired a new position in shares of HealthEquity during the 1st quarter worth about $40,000. Finally, Fidelis Capital Partners LLC bought a new stake in shares of HealthEquity in the 1st quarter valued at about $42,000. Institutional investors own 99.55% of the company’s stock.

About HealthEquity

HealthEquity, Inc provides technology-enabled services platforms to consumers and employers in the United States. The company offers cloud-based platforms for individuals to make health saving and spending decisions, pay healthcare bills, receive personalized benefit information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts.