HealthEquity, Inc. (HQY) Upgraded to “Sell” by BidaskClub
BidaskClub upgraded shares of HealthEquity, Inc. (NASDAQ:HQY) from a strong sell rating to a sell rating in a report released on Friday morning.
A number of other equities research analysts have also commented on HQY. Cantor Fitzgerald upped their price objective on shares of HealthEquity from $50.00 to $55.00 and gave the company an overweight rating in a research note on Wednesday, June 7th. Oppenheimer Holdings, Inc. reaffirmed an outperform rating and issued a $61.00 price objective (up from $57.00) on shares of HealthEquity in a research note on Monday, June 12th. Zacks Investment Research raised shares of HealthEquity from a hold rating to a buy rating and set a $54.00 price objective on the stock in a research note on Wednesday, July 12th. Chardan Capital upped their price objective on shares of HealthEquity from $53.00 to $57.00 and gave the company a buy rating in a research note on Wednesday, June 7th. Finally, TheStreet raised shares of HealthEquity from a c rating to a b rating in a research note on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $56.50.
Shares of HealthEquity (NASDAQ HQY) traded down 1.53% during trading on Friday, reaching $45.12. 1,500,491 shares of the company’s stock were exchanged. HealthEquity has a 52-week low of $30.34 and a 52-week high of $54.95. The stock has a market cap of $2.71 billion, a PE ratio of 84.81 and a beta of 1.75. The stock’s 50 day moving average price is $44.62 and its 200-day moving average price is $45.93.
HealthEquity (NASDAQ:HQY) last announced its quarterly earnings results on Tuesday, September 5th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.13. HealthEquity had a net margin of 20.27% and a return on equity of 13.93%. The firm had revenue of $56.90 million during the quarter, compared to analysts’ expectations of $55.66 million. During the same period in the prior year, the company posted $0.16 EPS. The company’s revenue was up 28.7% on a year-over-year basis. On average, equities research analysts forecast that HealthEquity will post $0.71 EPS for the current year.
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In related news, Director Frank Medici sold 537,102 shares of the stock in a transaction on Friday, July 14th. The shares were sold at an average price of $51.24, for a total transaction of $27,521,106.48. Following the transaction, the director now directly owns 6,381 shares of the company’s stock, valued at $326,962.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Ashley Dreier sold 10,000 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $45.50, for a total transaction of $455,000.00. Following the transaction, the vice president now directly owns 15,652 shares in the company, valued at $712,166. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,976,064 shares of company stock worth $100,665,521. Insiders own 29.00% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in HealthEquity by 6.2% during the first quarter. Vanguard Group Inc. now owns 4,115,237 shares of the company’s stock worth $174,691,000 after acquiring an additional 240,136 shares in the last quarter. Paloma Partners Management Co bought a new position in HealthEquity during the first quarter worth $503,000. First Trust Advisors LP boosted its stake in HealthEquity by 17.0% during the second quarter. First Trust Advisors LP now owns 94,283 shares of the company’s stock worth $4,698,000 after acquiring an additional 13,676 shares in the last quarter. Royce & Associates LP boosted its stake in HealthEquity by 18.0% during the second quarter. Royce & Associates LP now owns 139,200 shares of the company’s stock worth $6,936,000 after acquiring an additional 21,200 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new position in HealthEquity during the second quarter worth $200,000. 91.86% of the stock is currently owned by institutional investors and hedge funds.
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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