The Goldman Sachs Group Begins Coverage on HealthEquity (NASDAQ:HQY)

The Goldman Sachs Group initiated coverage on shares of HealthEquity (NASDAQ:HQY) in a research note issued on Friday, MarketBeat reports. The brokerage set a “neutral” rating and a $108.00 price target on the stock. The Goldman Sachs Group’s price target points to a potential upside of 9.11% from the company’s current price.

Several other analysts have also commented on HQY. Barrington Research reiterated an “outperform” rating and set a $105.00 price objective on shares of HealthEquity in a report on Friday, September 20th. Bank of America boosted their price objective on shares of HealthEquity from $100.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft raised their target price on HealthEquity from $102.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. JMP Securities reiterated a “market outperform” rating and set a $105.00 price target on shares of HealthEquity in a research note on Wednesday, September 4th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $92.00 price objective on shares of HealthEquity in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $107.23.

HealthEquity Stock Up 3.4 %

Shares of NASDAQ HQY opened at $98.98 on Friday. HealthEquity has a 12-month low of $62.10 and a 12-month high of $101.17. The stock’s fifty day simple moving average is $85.02 and its two-hundred day simple moving average is $81.08. The stock has a market capitalization of $8.64 billion, a PE ratio of 82.48, a price-to-earnings-growth ratio of 1.55 and a beta of 0.52. 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 (NASDAQ:HQY) last released its quarterly earnings results on Tuesday, September 3rd. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.50 by $0.16. HealthEquity had a net margin of 9.61% and a return on equity of 9.01%. The business had revenue of $299.93 million during the quarter, compared to analyst estimates of $284.48 million. As a group, analysts expect that HealthEquity will post 2.27 EPS for the current fiscal year.

Insider Activity at HealthEquity

In other news, Director Frank Corvino sold 1,039 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $96.10, for a total value of $99,847.90. Following the transaction, the director now owns 3,784 shares in the company, valued at $363,642.40. This trade represents a 21.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert W. Selander sold 8,250 shares of HealthEquity stock in a transaction that occurred on Wednesday, October 9th. The stock was 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 10,536 shares of company stock valued at $884,517. 2.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Wasatch Advisors LP grew its holdings in shares of HealthEquity by 6.6% during the third quarter. Wasatch Advisors LP now owns 7,758,890 shares of the company’s stock worth $635,065,000 after buying an additional 483,269 shares in the last quarter. Mackenzie Financial Corp grew its holdings in HealthEquity by 16.0% in the 2nd quarter. Mackenzie Financial Corp now owns 2,364,521 shares of the company’s stock valued at $203,822,000 after buying an additional 325,906 shares in the last quarter. Generate Investment Management Ltd acquired a new stake in HealthEquity during the second quarter worth about $24,184,000. Vaughan Nelson Investment Management L.P. raised its position in shares of HealthEquity by 36.7% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 843,423 shares of the company’s stock valued at $69,034,000 after buying an additional 226,563 shares during the period. Finally, Thrivent Financial for Lutherans increased its position in shares of HealthEquity by 924.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 220,220 shares of the company’s stock worth $18,983,000 after purchasing an additional 198,718 shares during the last quarter. 99.55% of the stock is owned by institutional investors and hedge funds.

HealthEquity Company Profile

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.