HealthEquity (NASDAQ:HQY) Price Target Raised to $104.00

HealthEquity (NASDAQ:HQY) had its target price increased by The Goldman Sachs Group from $94.00 to $104.00 in a research report released on Wednesday morning, MarketBeat reports. The brokerage currently has a neutral rating on the stock.

Other equities analysts also recently issued reports about the stock. KeyCorp dropped their price target 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. JMP Securities raised their price target on HealthEquity from $110.00 to $117.00 and gave the stock a “market outperform” rating in a research note on Wednesday. Bank of America lifted their price target on HealthEquity from $110.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday. Raymond James upgraded HealthEquity from an “outperform” rating to a “strong-buy” rating and dropped their price objective for the stock from $120.00 to $115.00 in a report on Tuesday, March 25th. Finally, Wells Fargo & Company raised their price objective on shares of HealthEquity from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, HealthEquity presently has an average rating of “Buy” and an average price target of $118.09.

HealthEquity Price Performance

Shares of HQY opened at $111.55 on Wednesday. The company has a market capitalization of $9.65 billion, a price-to-earnings ratio of 102.34, a P/E/G ratio of 1.60 and a beta of 0.45. HealthEquity has a fifty-two week low of $65.01 and a fifty-two week high of $116.65. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.20 and a quick ratio of 3.20. The business’s 50-day moving average is $91.48 and its 200-day moving average is $97.80.

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 the consensus estimate 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 previous year, the firm posted $0.80 earnings per share. Equities research analysts expect that HealthEquity will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling at HealthEquity

In related news, EVP Michael Henry Fiore sold 8,881 shares of the stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $78.26, for a total value of $695,027.06. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert W. Selander sold 5,750 shares of the firm’s stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $77.65, for a total value of $446,487.50. Following the completion of the sale, the director now owns 84,969 shares of the company’s stock, valued at $6,597,842.85. This represents a 6.34% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On HealthEquity

A number of hedge funds have recently made changes to their positions in HQY. Arcadia Investment Management Corp MI bought a new stake in HealthEquity in the fourth quarter valued at about $26,000. Versant Capital Management Inc acquired a new position in HealthEquity during the first quarter worth $28,000. WPG Advisers LLC bought a new position in shares of HealthEquity during the first quarter valued at $28,000. Transce3nd LLC acquired a new stake in shares of HealthEquity in the 4th quarter valued at $29,000. Finally, Smartleaf Asset Management LLC boosted its stake in shares of HealthEquity by 34.3% in the 4th 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. Institutional investors and hedge funds 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.