HealthEquity (NASDAQ:HQY) Price Target Raised to $117.00

HealthEquity (NASDAQ:HQY) had its price target hoisted by Royal Bank of Canada from $112.00 to $117.00 in a research report released on Wednesday, MarketBeat reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other research analysts also recently issued reports on the company. The Goldman Sachs Group dropped their price target on HealthEquity from $107.00 to $94.00 and set a “neutral” rating on the stock in a research note on Thursday, March 27th. KeyCorp lowered their target price on shares of HealthEquity from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. JMP Securities lifted their target price on shares of HealthEquity from $110.00 to $117.00 and gave the company a “market outperform” rating in a report on Wednesday. Barrington Research reiterated an “outperform” rating and set a $112.00 price target on shares of HealthEquity in a research note on Friday, April 11th. Finally, Bank of America raised their price objective on shares of HealthEquity from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, HealthEquity currently has an average rating of “Buy” and a consensus target price of $118.09.

HealthEquity Trading Down 1.0%

NASDAQ HQY opened at $111.55 on Wednesday. The firm’s fifty day moving average price is $91.48 and its 200 day moving average price is $97.80. HealthEquity has a 12 month low of $65.01 and a 12 month high of $116.65. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.20 and a quick ratio of 3.20. The company has a market capitalization of $9.65 billion, a price-to-earnings ratio of 102.34, a price-to-earnings-growth ratio of 1.60 and a beta of 0.45.

HealthEquity (NASDAQ:HQY) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.16. HealthEquity had a return on equity of 9.70% and a net margin of 8.41%. The company had revenue of $330.80 million for the quarter, compared to analyst estimates of $322.25 million. During the same quarter last year, the company posted $0.80 earnings per share. On average, sell-side analysts expect that HealthEquity will post 2.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other HealthEquity news, Director Robert W. Selander sold 5,750 shares of the business’s stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $77.65, for a total transaction of $446,487.50. Following the transaction, the director now owns 84,969 shares in the company, valued at approximately $6,597,842.85. The trade was a 6.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Michael Henry Fiore sold 8,881 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $78.26, for a total value of $695,027.06. Following the completion of the sale, the executive vice president now directly owns 56,655 shares of the company’s stock, valued at $4,433,820.30. This represents a 13.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.

Institutional Investors Weigh In On HealthEquity

Hedge funds and other institutional investors have recently bought and sold shares of the business. Arcadia Investment Management Corp MI acquired a new position in shares of HealthEquity during the 4th quarter worth $26,000. Versant Capital Management Inc purchased a new stake in HealthEquity during the first quarter worth about $28,000. WPG Advisers LLC purchased a new stake in HealthEquity during the first quarter worth about $28,000. Transce3nd LLC acquired a new position in HealthEquity during the fourth quarter worth about $29,000. Finally, Smartleaf Asset Management LLC increased its holdings in HealthEquity by 34.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 384 shares of the company’s stock valued at $37,000 after buying an additional 98 shares in the last quarter. Institutional investors and hedge funds 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.