HealthEquity (NASDAQ:HQY) Price Target Raised to $125.00 at Bank of America

HealthEquity (NASDAQ:HQY) had its target price raised by equities research analysts at Bank of America from $110.00 to $125.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price objective would indicate a potential upside of 9.51% from the stock’s previous close.

Several other equities research analysts also recently issued reports on HQY. Royal Bank of Canada started coverage on shares of HealthEquity in a research report on Thursday, May 22nd. They set an “outperform” rating and a $112.00 price objective for the company. Wells Fargo & Company boosted their target price on shares of HealthEquity from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Barrington Research reaffirmed an “outperform” rating and set a $112.00 target price on shares of HealthEquity in a research note on Friday, April 11th. Raymond James raised shares of HealthEquity from an “outperform” rating to a “strong-buy” rating and reduced their price objective for the stock from $120.00 to $115.00 in a research note on Tuesday, March 25th. Finally, KeyCorp reduced their price objective on shares of HealthEquity from $110.00 to $100.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $113.58.

HealthEquity Stock Performance

HQY traded up $10.39 on Wednesday, hitting $114.15. 410,742 shares of the stock traded hands, compared to its average volume of 814,026. HealthEquity has a 52 week low of $65.01 and a 52 week high of $115.84. The firm has a market capitalization of $9.87 billion, a PE ratio of 104.70, a P/E/G ratio of 1.60 and a beta of 0.45. The business has a fifty day moving average price of $89.98 and a two-hundred day moving average price of $97.56. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.51.

HealthEquity (NASDAQ:HQY) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.16. The firm had revenue of $330.80 million for the quarter, compared to analyst estimates of $322.25 million. HealthEquity had a return on equity of 9.70% and a net margin of 8.41%. During the same period last year, the company earned $0.80 EPS. On average, research analysts predict that HealthEquity will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling at HealthEquity

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

Institutional Investors Weigh In On HealthEquity

Several hedge funds and other institutional investors have recently bought and sold shares of HQY. Arcadia Investment Management Corp MI purchased a new stake in HealthEquity during the fourth quarter worth about $26,000. Versant Capital Management Inc purchased a new stake in shares of HealthEquity in the first quarter valued at about $28,000. WPG Advisers LLC purchased a new stake in shares of HealthEquity in the first quarter valued at about $28,000. Transce3nd LLC purchased a new stake in shares of HealthEquity in the fourth quarter valued at about $29,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of HealthEquity by 34.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 384 shares of the company’s stock valued at $37,000 after purchasing an additional 98 shares in the last quarter. 99.55% of the stock is currently owned by institutional investors and hedge funds.

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.