HealthEquity (NASDAQ:HQY) Price Target Raised to $120.00 at Bank of America

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

Other analysts have also recently issued reports about the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $92.00 price objective on shares of HealthEquity in a research report on Wednesday, September 4th. Barrington Research reissued an “outperform” rating and issued a $105.00 target price on shares of HealthEquity in a research report on Friday, September 20th. JMP Securities restated a “market outperform” rating and issued a $105.00 price objective on shares of HealthEquity in a report on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of HealthEquity from $102.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $105.50.

HealthEquity Stock Performance

HQY stock traded up $0.71 during midday trading on Wednesday, hitting $95.51. 2,547 shares of the stock traded hands, compared to its average volume of 613,051. The firm has a market cap of $8.34 billion, a P/E ratio of 79.00, a PEG ratio of 1.57 and a beta of 0.52. The stock’s fifty day simple moving average is $84.24 and its 200-day simple moving average is $80.84. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.10 and a quick ratio of 4.10. HealthEquity has a 1-year low of $62.10 and a 1-year high of $101.17.

HealthEquity (NASDAQ:HQY) last released its quarterly earnings results 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. HealthEquity had a return on equity of 9.01% and a net margin of 9.61%. The business had revenue of $299.93 million during the quarter, compared to analysts’ expectations of $284.48 million. On average, analysts expect that HealthEquity will post 2.27 earnings per share for the current year.

Insider Activity at HealthEquity

In related news, Director Frank Corvino sold 1,039 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $96.10, for a total value of $99,847.90. Following the completion of the sale, the director now owns 3,784 shares of the company’s stock, valued at $363,642.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other HealthEquity news, Director Robert W. Selander sold 8,250 shares of the business’s stock in a transaction 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 sale, the director now directly owns 54,719 shares of the company’s stock, valued at $4,540,582.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank Corvino sold 1,039 shares of HealthEquity stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $96.10, for a total transaction of $99,847.90. Following the completion of the sale, the director now directly owns 3,784 shares of the company’s stock, valued at approximately $363,642.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,536 shares of company stock worth $884,517 in the last three months. 2.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of HealthEquity by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 8,768,632 shares of the company’s stock worth $715,783,000 after purchasing an additional 149,133 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of HealthEquity by 1.9% during the second quarter. Clearbridge Investments LLC now owns 2,377,204 shares of the company’s stock valued at $204,915,000 after acquiring an additional 43,491 shares during the period. Mackenzie Financial Corp boosted its stake 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 purchasing an additional 325,906 shares in the last quarter. Dimensional Fund Advisors LP increased 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 purchasing an additional 115,841 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its stake in HealthEquity by 2.2% during the third 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. 99.55% of the stock is owned by institutional investors.

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.