HealthEquity (NASDAQ:HQY) Trading Down 3.4% – Here’s What Happened

HealthEquity, Inc. (NASDAQ:HQY) traded down 3.4% on Wednesday . The company traded as low as $95.95 and last traded at $96.75. 44,685 shares traded hands during trading, a decline of 93% from the average session volume of 612,172 shares. The stock had previously closed at $100.20.

Wall Street Analysts Forecast Growth

Several research analysts have commented on HQY shares. JMP Securities reissued a “market outperform” rating and set a $105.00 price target on shares of HealthEquity in a research note on Wednesday, September 4th. Bank of America boosted their price target on shares of HealthEquity from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price objective on HealthEquity from $102.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Barrington Research restated an “outperform” rating and set a $105.00 target price on shares of HealthEquity in a report on Friday, September 20th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $92.00 price target on shares of HealthEquity in a research report on Wednesday, September 4th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $105.50.

HealthEquity Stock Down 4.4 %

The company’s 50 day moving average is $84.00 and its 200 day moving average is $80.74. The company has a market cap of $8.36 billion, a PE ratio of 79.59, a P/E/G ratio of 1.57 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 posted 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. The business had revenue of $299.93 million during 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%. As a group, analysts predict that HealthEquity, Inc. will post 2.27 earnings per share for the current fiscal year.

Insider Activity at HealthEquity

In other HealthEquity 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 transaction of $684,585.00. Following the completion of the transaction, the director now owns 54,719 shares of the company’s stock, valued at $4,540,582.62. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Frank Corvino sold 1,039 shares of HealthEquity 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 sale, the director now directly owns 3,784 shares in the company, valued at $363,642.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert W. Selander sold 8,250 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $82.98, for a total transaction of $684,585.00. Following the completion of the sale, the director now owns 54,719 shares of the company’s stock, valued at approximately $4,540,582.62. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,536 shares of company stock worth $884,517. Insiders own 2.20% of the company’s stock.

Institutional Trading of HealthEquity

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in HealthEquity by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 8,768,632 shares of the company’s stock valued at $715,783,000 after buying an additional 149,133 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of HealthEquity by 1.9% in the 2nd quarter. Clearbridge Investments LLC now owns 2,377,204 shares of the company’s stock valued at $204,915,000 after buying an additional 43,491 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of 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. Dimensional Fund Advisors LP boosted its position in shares of HealthEquity by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,547,402 shares of the company’s stock worth $133,377,000 after acquiring an additional 115,841 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its position in shares of HealthEquity by 2.2% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,126,645 shares of the company’s stock worth $92,216,000 after buying an additional 24,665 shares during the last quarter. Institutional investors own 99.55% of the company’s stock.

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.