HealthEquity, Inc. (HQY) Stock Rating Lowered by Zacks Investment Research
HealthEquity, Inc. (NASDAQ:HQY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
According to Zacks, “HealthEquity, Inc. is a technology-enabled services platforms that empower consumers to make healthcare saving and spending decisions. The Company’s platform provides an ecosystem where consumers can access their tax-advantaged healthcare savings, compare treatment options and pricing, evaluate and pay healthcare bills, receive personalized benefit and clinical information, earn wellness incentives, and make educated investment choices to grow their tax-advantaged healthcare savings. HealthEquity, Inc. is headquartered in Draper, Utah. “
A number of other analysts also recently issued reports on the stock. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $61.00 price objective (up from $57.00) on shares of HealthEquity in a report on Monday, June 12th. Chardan Capital lifted their price objective on shares of HealthEquity from $53.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, June 7th. Cantor Fitzgerald lifted their price objective on shares of HealthEquity from $55.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, July 5th. BidaskClub downgraded shares of HealthEquity from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, TheStreet raised shares of HealthEquity from a “c” rating to a “b” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. HealthEquity presently has a consensus rating of “Buy” and a consensus price target of $50.22.
Shares of HealthEquity (HQY) traded up 0.56% on Friday, hitting $46.77. 184,984 shares of the stock traded hands. HealthEquity has a 52 week low of $28.12 and a 52 week high of $54.95. The stock has a 50-day moving average price of $49.82 and a 200 day moving average price of $46.16. The firm has a market cap of $2.80 billion, a P/E ratio of 87.91 and a beta of 1.73.
HealthEquity (NASDAQ:HQY) last announced its quarterly earnings results on Tuesday, June 6th. The company reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.03. HealthEquity had a net margin of 17.04% and a return on equity of 11.61%. The firm had revenue of $55.40 million during the quarter, compared to the consensus estimate of $54.77 million. During the same period last year, the firm earned $0.15 EPS. The business’s quarterly revenue was up 25.9% compared to the same quarter last year. Equities research analysts predict that HealthEquity will post $0.58 EPS for the current fiscal year.
In related news, insider Stephen Neeleman sold 40,000 shares of HealthEquity stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $48.36, for a total value of $1,934,400.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Frank Medici sold 537,102 shares of HealthEquity stock in a transaction on Friday, July 14th. The stock was sold at an average price of $51.24, for a total transaction of $27,521,106.48. Following the completion of the transaction, the director now owns 6,381 shares in the company, valued at approximately $326,962.44. The disclosure for this sale can be found here. Insiders have sold a total of 2,440,821 shares of company stock valued at $125,325,268 over the last ninety days. 29.00% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the company. Nationwide Fund Advisors boosted its position in shares of HealthEquity by 65.6% in the first quarter. Nationwide Fund Advisors now owns 236,865 shares of the company’s stock worth $10,055,000 after buying an additional 93,861 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of HealthEquity by 4.3% in the first quarter. State of Alaska Department of Revenue now owns 4,850 shares of the company’s stock worth $205,000 after buying an additional 200 shares during the last quarter. Columbus Circle Investors acquired a new position in shares of HealthEquity during the first quarter worth approximately $461,000. Louisiana State Employees Retirement System boosted its position in shares of HealthEquity by 3.5% in the first quarter. Louisiana State Employees Retirement System now owns 17,900 shares of the company’s stock worth $760,000 after buying an additional 600 shares during the last quarter. Finally, Peregrine Capital Management LLC boosted its position in shares of HealthEquity by 6.4% in the first quarter. Peregrine Capital Management LLC now owns 743,830 shares of the company’s stock worth $29,776,000 after buying an additional 44,792 shares during the last quarter. Institutional investors own 90.23% of the company’s stock.
HealthEquity Company Profile
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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