Zacks Investment Research downgraded shares of Healthequity (NASDAQ:HQY) from a buy rating to a hold rating in a report published on Wednesday.
According to Zacks, “HealthEquity, Inc. is a technology-enabled services platforms that empower consumers to make healthcare saving and spending decisions. The Company’s platform provides an ecosystem where consumers can access their tax-advantaged healthcare savings, compare treatment options and pricing, evaluate and pay healthcare bills, receive personalized benefit and clinical information, earn wellness incentives, and make educated investment choices to grow their tax-advantaged healthcare savings. HealthEquity, Inc. is headquartered in Draper, Utah. “
Other equities analysts have also recently issued research reports about the company. Cantor Fitzgerald reaffirmed a buy rating and set a $65.00 target price on shares of Healthequity in a research note on Friday, March 23rd. Oppenheimer lifted their target price on Healthequity from $58.00 to $68.00 and gave the company an outperform rating in a research note on Tuesday, March 20th. Barrington Research lifted their target price on Healthequity to $65.00 and gave the company an outperform rating in a research note on Tuesday, March 20th. ValuEngine raised Healthequity from a hold rating to a buy rating in a research note on Monday, April 2nd. Finally, Chardan Capital lifted their target price on Healthequity from $62.00 to $77.00 and gave the company a buy rating in a research note on Tuesday, March 20th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Healthequity presently has a consensus rating of Buy and a consensus target price of $66.50.
Shares of HQY opened at $62.82 on Wednesday. The stock has a market capitalization of $3,877.77, a P/E ratio of 116.33, a P/E/G ratio of 2.55 and a beta of 1.39. Healthequity has a 1-year low of $40.21 and a 1-year high of $68.75.
Healthequity (NASDAQ:HQY) last issued its quarterly earnings results on Monday, March 19th. The company reported $0.06 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.06. The firm had revenue of $60.44 million for the quarter, compared to analysts’ expectations of $58.46 million. Healthequity had a return on equity of 13.47% and a net margin of 20.64%. analysts expect that Healthequity will post 0.77 earnings per share for the current fiscal year.
In related news, VP Ashley Dreier sold 71,157 shares of the business’s stock in a transaction that occurred on Thursday, March 22nd. The stock was sold at an average price of $65.48, for a total value of $4,659,360.36. Following the completion of the sale, the vice president now owns 21,059 shares of the company’s stock, valued at approximately $1,378,943.32. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jon Kessler sold 1,332 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $55.00, for a total value of $73,260.00. Following the completion of the sale, the chief executive officer now directly owns 446,332 shares of the company’s stock, valued at approximately $24,548,260. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 735,081 shares of company stock worth $39,413,118. Company insiders own 29.00% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in HQY. Zions Bancorporation bought a new stake in shares of Healthequity in the 3rd quarter valued at approximately $119,000. Catalyst Capital Advisors LLC bought a new stake in shares of Healthequity in the 4th quarter valued at approximately $149,000. Two Sigma Securities LLC bought a new stake in shares of Healthequity in the 4th quarter valued at approximately $208,000. Exane Derivatives grew its stake in shares of Healthequity by 78.6% in the 4th quarter. Exane Derivatives now owns 4,682 shares of the company’s stock valued at $218,000 after buying an additional 2,060 shares in the last quarter. Finally, Xact Kapitalforvaltning AB bought a new stake in shares of Healthequity in the 4th quarter valued at approximately $220,000. 99.38% of the stock is owned by institutional investors and hedge funds.
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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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