HealthEquity (NASDAQ:HQY) Price Target Raised to $120.00

HealthEquity (NASDAQ:HQY) had its price objective increased by Bank of America from $100.00 to $120.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts also recently issued reports on HQY. Barrington Research reissued an “outperform” rating and set a $105.00 price target on shares of HealthEquity in a report on Friday, September 20th. Deutsche Bank Aktiengesellschaft increased their price target on shares of HealthEquity from $102.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Royal Bank of Canada reissued an “outperform” rating and set a $92.00 price target on shares of HealthEquity in a report on Wednesday, September 4th. Finally, JMP Securities reissued a “market outperform” rating and set a $105.00 price target on shares of HealthEquity in a report on Wednesday, September 4th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, HealthEquity currently has a consensus rating of “Moderate Buy” and an average price target of $107.23.

HealthEquity Trading Up 3.4 %

Shares of HealthEquity stock opened at $98.98 on Wednesday. The company has a current ratio of 4.10, a quick ratio of 4.10 and a debt-to-equity ratio of 0.51. HealthEquity has a 12-month low of $62.10 and a 12-month high of $101.17. The firm has a market capitalization of $8.64 billion, a price-to-earnings ratio of 82.48, a PEG ratio of 1.48 and a beta of 0.52. The firm’s 50 day simple moving average is $85.02 and its two-hundred day simple moving average is $81.07.

HealthEquity (NASDAQ:HQY) last released its quarterly earnings data on Tuesday, September 3rd. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.16. The firm had revenue of $299.93 million for the quarter, compared to analyst estimates of $284.48 million. HealthEquity had a net margin of 9.61% and a return on equity of 9.01%. Analysts predict that HealthEquity will post 2.27 EPS for the current year.

Insider Buying and Selling at HealthEquity

In other news, Director Robert W. Selander sold 8,250 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $82.98, for a total value of $684,585.00. Following the completion of the sale, the director now directly owns 54,719 shares in the company, valued at $4,540,582.62. This represents a 13.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frank Corvino sold 1,247 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $80.26, for a total transaction of $100,084.22. Following the completion of the sale, the director now owns 4,823 shares of the company’s stock, valued at $387,093.98. This trade represents a 20.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,536 shares of company stock valued at $884,517 over the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On HealthEquity

Hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Trust N.A. boosted its stake in shares of HealthEquity by 4.8% in the third quarter. Raymond James Trust N.A. now owns 2,905 shares of the company’s stock valued at $238,000 after purchasing an additional 132 shares during the period. Truist Financial Corp boosted its stake in shares of HealthEquity by 7.0% in the second quarter. Truist Financial Corp now owns 2,864 shares of the company’s stock valued at $247,000 after purchasing an additional 188 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in shares of HealthEquity by 3.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 5,219 shares of the company’s stock valued at $426,000 after purchasing an additional 197 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of HealthEquity by 7.5% in the second quarter. Nisa Investment Advisors LLC now owns 2,854 shares of the company’s stock valued at $246,000 after purchasing an additional 198 shares during the period. Finally, Elk River Wealth Management LLC boosted its stake in shares of HealthEquity by 0.3% in the third quarter. Elk River Wealth Management LLC now owns 66,181 shares of the company’s stock valued at $5,417,000 after purchasing an additional 217 shares during the period. 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.