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

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

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

HealthEquity Stock Performance

Shares of HQY stock opened at $98.98 on Wednesday. The stock has a market capitalization of $8.64 billion, a PE ratio of 82.48, a PEG ratio of 1.48 and a beta of 0.52. The business’s 50 day simple moving average is $85.02 and its 200 day simple moving average is $81.08. 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 one year low of $62.10 and a one year high of $101.17.

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

Insider Activity

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 transaction, the director now directly owns 54,719 shares of the company’s stock, valued at approximately $4,540,582.62. The trade was a 13.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank Corvino sold 1,247 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was 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 directly owns 4,823 shares of the company’s stock, valued at approximately $387,093.98. This represents a 20.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,536 shares of company stock valued at $884,517. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC bought a new position in HealthEquity in the second quarter worth $35,000. Paladin Wealth LLC bought a new position in shares of HealthEquity in the 3rd quarter worth about $39,000. GAMMA Investing LLC lifted its position in HealthEquity by 114.8% during the 2nd quarter. GAMMA Investing LLC now owns 595 shares of the company’s stock valued at $51,000 after acquiring an additional 318 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in HealthEquity during the second quarter worth about $73,000. Finally, Quarry LP grew its holdings in HealthEquity by 418.8% in the third quarter. Quarry LP now owns 1,349 shares of the company’s stock worth $110,000 after purchasing an additional 1,089 shares during the period. 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.