HealthEquity’s (HQY) Buy Rating Reaffirmed at Bank of America

Bank of America reaffirmed their buy rating on shares of HealthEquity (NASDAQ:HQY) in a report released on Wednesday morning, Benzinga reports. They currently have a $105.00 price target on the stock.

A number of other research firms have also commented on HQY. KeyCorp upped their price objective on shares of HealthEquity from $95.00 to $100.00 and gave the company an overweight rating in a research note on Wednesday, June 5th. Raymond James lifted their price objective on shares of HealthEquity from $100.00 to $105.00 and gave the stock an outperform rating in a research report on Friday, June 7th. BTIG Research increased their target price on HealthEquity from $100.00 to $110.00 and gave the company a buy rating in a report on Wednesday, March 20th. JMP Securities lifted their price target on HealthEquity from $101.00 to $105.00 and gave the company a market outperform rating in a report on Tuesday, June 4th. Finally, Barrington Research increased their price objective on HealthEquity from $100.00 to $105.00 and gave the stock an outperform rating in a research note on Tuesday, June 4th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $101.67.

HealthEquity Trading Down 2.6 %

Shares of NASDAQ:HQY opened at $83.56 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 4.39 and a current ratio of 4.39. The stock has a market capitalization of $7.27 billion, a price-to-earnings ratio of 90.83, a PEG ratio of 1.45 and a beta of 0.57. HealthEquity has a 1-year low of $61.32 and a 1-year high of $88.26. The company has a 50 day moving average price of $81.34 and a 200 day moving average price of $78.52.

HealthEquity (NASDAQ:HQY) last released its quarterly earnings data on Monday, June 3rd. The company reported $0.55 earnings per share for the quarter, topping 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 business had revenue of $287.60 million during the quarter, compared to analyst estimates of $278.78 million. On average, research analysts anticipate that HealthEquity will post 2.12 EPS for the current fiscal year.

Insider Activity at HealthEquity

In other HealthEquity news, CEO Jon Kessler sold 32,326 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $82.83, for a total value of $2,677,562.58. Following the completion of the sale, the chief executive officer now directly owns 232,176 shares of the company’s stock, valued at $19,231,138.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Vice Chairman Stephen Neeleman sold 2,080 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 90,515 shares in the company, valued at approximately $7,694,680.15. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jon Kessler sold 32,326 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $82.83, for a total value of $2,677,562.58. Following the transaction, the chief executive officer now owns 232,176 shares in the company, valued at approximately $19,231,138.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,806 shares of company stock valued at $2,888,383. 2.20% of the stock is currently owned by corporate insiders.

Institutional Trading of HealthEquity

Several large investors have recently modified their holdings of HQY. Motley Fool Asset Management LLC lifted its position in HealthEquity by 3,001.0% during the 1st quarter. Motley Fool Asset Management LLC now owns 3,762,064 shares of the company’s stock worth $307,097,000 after acquiring an additional 3,640,748 shares during the last quarter. Mackenzie Financial Corp increased its position in HealthEquity by 58.2% during the fourth quarter. Mackenzie Financial Corp now owns 1,807,407 shares of the company’s stock worth $119,831,000 after acquiring an additional 664,979 shares during the period. Norges Bank bought a new stake in HealthEquity in the 4th quarter valued at $43,482,000. Vaughan Nelson Investment Management L.P. acquired a new stake in HealthEquity in the 1st quarter worth $49,443,000. Finally, Wasatch Advisors LP increased its stake in HealthEquity by 8.3% during the first quarter. Wasatch Advisors LP now owns 7,409,080 shares of the company’s stock valued at $604,803,000 after acquiring an additional 569,249 shares during the period. 99.55% of the stock is owned by institutional investors.

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.