Healthequity (NASDAQ:HQY) had its price target reduced by equities research analysts at Wells Fargo & Co from $100.00 to $90.00 in a research note issued on Friday. The brokerage presently has an “outperform” rating on the stock. Wells Fargo & Co’s price target indicates a potential upside of 25.63% from the stock’s previous close.
A number of other equities research analysts also recently weighed in on the company. Raymond James lifted their target price on Healthequity from $85.00 to $105.00 and gave the stock an “outperform” rating in a report on Monday, September 10th. Bank of America downgraded Healthequity from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $84.00 to $105.00 in a report on Thursday, September 6th. They noted that the move was a valuation call. SunTrust Banks raised their price objective on Healthequity to $105.00 and gave the company a “buy” rating in a research note on Wednesday, September 5th. BidaskClub raised Healthequity from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 1st. Finally, Cantor Fitzgerald raised their price objective on Healthequity from $68.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, September 5th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Healthequity has a consensus rating of “Buy” and a consensus price target of $90.92.
HQY stock traded down $2.39 during mid-day trading on Friday, reaching $71.64. The company’s stock had a trading volume of 10,574 shares, compared to its average volume of 672,181. The company has a market cap of $5.19 billion, a P/E ratio of 132.02, a PEG ratio of 2.90 and a beta of 1.37. Healthequity has a 12 month low of $42.92 and a 12 month high of $101.58.
Healthequity (NASDAQ:HQY) last issued its earnings results on Tuesday, December 4th. The company reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.02. The business had revenue of $70.50 million during the quarter, compared to the consensus estimate of $69.60 million. Healthequity had a return on equity of 12.42% and a net margin of 24.52%. The firm’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.17 earnings per share. On average, research analysts predict that Healthequity will post 0.87 EPS for the current year.
In other Healthequity news, VP Darcy G. Mott sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, October 22nd. The stock was sold at an average price of $87.01, for a total value of $348,040.00. Following the completion of the sale, the vice president now owns 92,500 shares of the company’s stock, valued at $8,048,425. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 12,000 shares of company stock valued at $1,027,400 in the last three months. Insiders own 4.00% of the company’s stock.
Several large investors have recently made changes to their positions in HQY. BlackRock Inc. boosted its position in shares of Healthequity by 11.3% during the second quarter. BlackRock Inc. now owns 7,688,768 shares of the company’s stock valued at $577,427,000 after buying an additional 777,915 shares during the last quarter. FMR LLC boosted its position in shares of Healthequity by 26.5% during the second quarter. FMR LLC now owns 3,410,542 shares of the company’s stock valued at $256,132,000 after buying an additional 715,441 shares during the last quarter. Carillon Tower Advisers Inc. boosted its position in shares of Healthequity by 751.9% during the second quarter. Carillon Tower Advisers Inc. now owns 752,482 shares of the company’s stock valued at $56,511,000 after buying an additional 664,157 shares during the last quarter. Morgan Stanley boosted its position in shares of Healthequity by 15.5% during the third quarter. Morgan Stanley now owns 4,001,425 shares of the company’s stock valued at $377,775,000 after buying an additional 536,366 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of Healthequity by 976,643.6% during the third quarter. Clearbridge Investments LLC now owns 380,930 shares of the company’s stock valued at $35,964,000 after buying an additional 380,891 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.
HealthEquity, Inc provides various solutions for managing health care accounts, health reimbursement arrangements, and flexible spending accounts for health plans, insurance companies, and third-party administrators in the United States. The company offers healthcare saving and spending platform, a cloud-based platform for individuals to make health saving and spending decisions, pay healthcare bills, compare treatment options and prices, receive personalized benefit and clinical information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts.
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