HealthEquity, Inc. (NASDAQ:HQY)‘s stock had its “buy” rating restated by equities researchers at Cantor Fitzgerald in a research report issued to clients and investors on Monday. They presently have a $56.00 price objective on the stock. Cantor Fitzgerald’s price target points to a potential upside of 18.27% from the stock’s current price.
The analysts wrote, “Remains confident that HSA language will be included in subsequent legislative action, even if current ACA legislation fails to advance.””
Several other research analysts have also weighed in on the company. Robert W. Baird reiterated a “hold” rating on shares of HealthEquity in a research report on Thursday. BidaskClub upgraded HealthEquity from a “strong sell” rating to a “sell” rating in a research report on Friday, September 15th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $61.00 price objective on shares of HealthEquity in a research report on Wednesday, September 6th. Zacks Investment Research lowered HealthEquity from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Finally, TheStreet upgraded HealthEquity from a “c” rating to a “b” rating in a research report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $56.50.
Shares of HealthEquity (NASDAQ:HQY) traded down 0.49% during midday trading on Monday, hitting $47.12. The company had a trading volume of 548,599 shares. The company has a 50-day moving average of $44.62 and a 200-day moving average of $46.01. The company has a market capitalization of $2.85 billion, a PE ratio of 69.91 and a beta of 1.75. HealthEquity has a 12 month low of $30.34 and a 12 month high of $54.95.
HealthEquity (NASDAQ:HQY) last issued its quarterly earnings data on Tuesday, September 5th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.13. The company had revenue of $56.90 million during the quarter, compared to analyst estimates of $55.66 million. HealthEquity had a return on equity of 13.93% and a net margin of 20.27%. The firm’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.16 earnings per share. Analysts predict that HealthEquity will post $0.71 earnings per share for the current year.
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In other HealthEquity news, Director Frank Medici sold 131,800 shares of the company’s stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $51.42, for a total transaction of $6,777,156.00. Following the transaction, the director now directly owns 6,381 shares in the company, valued at $328,111.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Darcy G. Mott sold 9,500 shares of the company’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $46.79, for a total value of $444,505.00. Following the transaction, the vice president now owns 87,500 shares in the company, valued at $4,094,125. The disclosure for this sale can be found here. Insiders have sold 1,574,500 shares of company stock worth $79,719,804 over the last 90 days. 19.00% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of HealthEquity by 6.2% in the first quarter. Vanguard Group Inc. now owns 4,115,237 shares of the company’s stock valued at $174,691,000 after acquiring an additional 240,136 shares in the last quarter. Paloma Partners Management Co acquired a new stake in shares of HealthEquity in the first quarter valued at $503,000. First Trust Advisors LP raised its stake in shares of HealthEquity by 17.0% in the second quarter. First Trust Advisors LP now owns 94,283 shares of the company’s stock valued at $4,698,000 after acquiring an additional 13,676 shares in the last quarter. Royce & Associates LP raised its stake in shares of HealthEquity by 18.0% in the second quarter. Royce & Associates LP now owns 139,200 shares of the company’s stock valued at $6,936,000 after acquiring an additional 21,200 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in shares of HealthEquity in the second quarter valued at $1,362,000. Institutional investors own 90.97% of the company’s stock.
HealthEquity, Inc provides a range of solutions for managing healthcare accounts (Health Savings Accounts (HSAs), Health Reimbursement Arrangements (HRAs) and Flexible Spending Accounts (FSAs)) for health plans, insurance companies and third-party administrators. The Company is engaged in technology-enabled services platforms that allow consumers to make healthcare saving and spending decisions.
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