JMP Securities Issues Positive Forecast for HealthEquity (NASDAQ:HQY) Stock Price

HealthEquity (NASDAQ:HQY) had its target price raised by JMP Securities from $110.00 to $117.00 in a report published on Wednesday, MarketBeat Ratings reports. The firm currently has a market outperform rating on the stock.

Several other brokerages have also recently commented on HQY. KeyCorp reduced their price target on shares of HealthEquity from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. The Goldman Sachs Group reduced their price target on shares of HealthEquity from $107.00 to $94.00 and set a “neutral” rating on the stock in a research report on Thursday, March 27th. Raymond James raised shares of HealthEquity from an “outperform” rating to a “strong-buy” rating and reduced their price target for the stock from $120.00 to $115.00 in a research report on Tuesday, March 25th. Wells Fargo & Company increased their price target on shares of HealthEquity from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Finally, Royal Bank of Canada began coverage on shares of HealthEquity in a research report on Thursday, May 22nd. They set an “outperform” rating and a $112.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $115.82.

HealthEquity Stock Up 9.0%

Shares of NASDAQ HQY opened at $113.06 on Wednesday. HealthEquity has a 12-month low of $65.01 and a 12-month high of $116.00. The company has a market cap of $9.78 billion, a P/E ratio of 103.72, a P/E/G ratio of 1.60 and a beta of 0.45. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.51. The stock has a fifty day moving average price of $90.51 and a 200 day moving average price of $97.67.

HealthEquity (NASDAQ:HQY) last posted its quarterly earnings data on Tuesday, June 3rd. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.16. The company had revenue of $330.80 million during the quarter, compared to analysts’ expectations of $322.25 million. HealthEquity had a net margin of 8.41% and a return on equity of 9.70%. During the same period in the prior year, the company posted $0.80 EPS. Research analysts anticipate that HealthEquity will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling at HealthEquity

In related news, Director Robert W. Selander sold 5,750 shares of the firm’s stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $77.65, for a total transaction of $446,487.50. Following the transaction, the director now owns 84,969 shares in the company, valued at $6,597,842.85. This trade represents a 6.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Henry Fiore sold 8,881 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $78.26, for a total transaction of $695,027.06. Following the transaction, the executive vice president now owns 56,655 shares in the company, valued at $4,433,820.30. This represents a 13.55% decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Janney Montgomery Scott LLC boosted its holdings in HealthEquity by 8.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 5,352 shares of the company’s stock worth $514,000 after buying an additional 420 shares in the last quarter. Greenleaf Trust bought a new stake in HealthEquity during the fourth quarter worth approximately $214,000. Choreo LLC boosted its holdings in HealthEquity by 7.2% during the fourth quarter. Choreo LLC now owns 22,879 shares of the company’s stock worth $2,204,000 after buying an additional 1,533 shares in the last quarter. Entropy Technologies LP bought a new stake in HealthEquity during the fourth quarter worth approximately $224,000. Finally, Peterson Wealth Services boosted its holdings in HealthEquity by 5.1% during the fourth quarter. Peterson Wealth Services now owns 10,507 shares of the company’s stock worth $1,008,000 after buying an additional 509 shares in the last quarter. Institutional investors and hedge funds own 99.55% of the company’s stock.

HealthEquity Company Profile

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.