Shares of Healthequity Inc (NASDAQ:HQY) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $56.49 and last traded at $54.86, with a volume of 557200 shares trading hands. The stock had previously closed at $54.86.
Several analysts recently issued reports on HQY shares. Zacks Investment Research raised shares of Healthequity from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Saturday, February 10th. Citigroup started coverage on shares of Healthequity in a report on Thursday, January 4th. They issued a “buy” rating on the stock. Chardan Capital upped their price target on shares of Healthequity from $58.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, December 6th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $56.00 price target on shares of Healthequity in a report on Tuesday, December 5th. Finally, BidaskClub raised shares of Healthequity from a “hold” rating to a “buy” rating in a report on Friday, February 16th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $56.67.
The company has a market capitalization of $3,440.00, a price-to-earnings ratio of 76.64, a price-to-earnings-growth ratio of 2.09 and a beta of 1.70.
Healthequity (NASDAQ:HQY) last issued its earnings results on Tuesday, December 5th. The company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.04. The company had revenue of $56.80 million for the quarter, compared to analysts’ expectations of $55.27 million. Healthequity had a net margin of 21.08% and a return on equity of 14.47%. The firm’s revenue was up 31.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.10 earnings per share. equities analysts expect that Healthequity Inc will post 0.73 earnings per share for the current fiscal year.
In other news, major shareholder Berkley Capital, Llc sold 77,221 shares of the company’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $51.31, for a total transaction of $3,962,209.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frank Medici sold 49,900 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $52.01, for a total transaction of $2,595,299.00. Following the transaction, the director now owns 6,381 shares of the company’s stock, valued at approximately $331,875.81. The disclosure for this sale can be found here. Insiders have sold 739,840 shares of company stock worth $38,033,281 over the last three months. 19.00% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in HQY. Carillon Tower Advisers Inc. bought a new position in shares of Healthequity during the fourth quarter worth about $34,100,000. Eagle Asset Management Inc. bought a new position in shares of Healthequity during the third quarter worth about $36,875,000. Victory Capital Management Inc. grew its position in shares of Healthequity by 116.4% during the fourth quarter. Victory Capital Management Inc. now owns 1,031,711 shares of the company’s stock worth $48,139,000 after acquiring an additional 555,027 shares during the last quarter. Wells Fargo & Company MN grew its position in Healthequity by 49.5% in the 3rd quarter. Wells Fargo & Company MN now owns 1,108,410 shares of the company’s stock valued at $56,063,000 after buying an additional 366,925 shares in the last quarter. Finally, BlackRock Inc. grew its position in Healthequity by 3.8% in the 4th quarter. BlackRock Inc. now owns 6,751,491 shares of the company’s stock valued at $315,026,000 after buying an additional 244,819 shares in the last quarter. Institutional investors and hedge funds own 99.47% of the company’s stock.
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HealthEquity, Inc provides a range of solutions for managing healthcare accounts (Health Savings Accounts (HSAs), Health Reimbursement Arrangements (HRAs) and Flexible Spending Accounts (FSAs)) for health plans, insurance companies and third-party administrators. The Company is engaged in technology-enabled services platforms that allow consumers to make healthcare saving and spending decisions.
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