Healthequity’s (HQY) “Buy” Rating Reaffirmed at Cantor Fitzgerald
A number of other equities research analysts have also weighed in on HQY. Zacks Investment Research upgraded shares of Healthequity from a hold rating to a buy rating and set a $58.00 price objective for the company in a report on Wednesday, October 11th. BidaskClub lowered shares of Healthequity from a hold rating to a sell rating in a report on Wednesday, October 18th. Oppenheimer restated a buy rating and issued a $61.00 price objective on shares of Healthequity in a report on Wednesday, September 6th. Robert W. Baird restated a hold rating on shares of Healthequity in a report on Thursday, September 21st. Finally, Chardan Capital boosted their price objective on shares of Healthequity from $58.00 to $62.00 and gave the stock a buy rating in a report on Wednesday. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $58.33.
Shares of Healthequity (HQY) traded down $0.37 during trading on Tuesday, reaching $48.49. 516,400 shares of the company’s stock traded hands, compared to its average volume of 522,736. Healthequity has a twelve month low of $37.62 and a twelve month high of $55.31. The company has a market capitalization of $2,955.48, a price-to-earnings ratio of 77.56, a PEG ratio of 2.14 and a beta of 1.74.
Healthequity (NASDAQ:HQY) last announced its earnings results on Tuesday, December 5th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.04. Healthequity had a net margin of 20.27% and a return on equity of 13.93%. The business had revenue of $56.80 million during the quarter, compared to analyst estimates of $55.27 million. During the same period in the previous year, the business posted $0.10 earnings per share. Healthequity’s revenue for the quarter was up 31.0% on a year-over-year basis. analysts expect that Healthequity will post 0.7 EPS for the current fiscal year.
In related news, insider Stephen Neeleman sold 8,500 shares of Healthequity stock in a transaction on Friday, September 15th. The shares were sold at an average price of $45.24, for a total value of $384,540.00. Following the transaction, the insider now directly owns 1,000 shares of the company’s stock, valued at $45,240. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Darcy G. Mott sold 9,500 shares of Healthequity stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $46.79, for a total transaction of $444,505.00. Following the completion of the transaction, the vice president now directly owns 87,500 shares in the company, valued at $4,094,125. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,733,212 shares of company stock worth $90,635,651. 19.00% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Zions Bancorporation purchased a new position in Healthequity during the 3rd quarter valued at $119,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Healthequity by 105.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,544 shares of the company’s stock valued at $127,000 after purchasing an additional 1,308 shares during the period. Riverhead Capital Management LLC increased its position in Healthequity by 75.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,629 shares of the company’s stock valued at $131,000 after purchasing an additional 1,129 shares during the period. Oppenheimer Asset Management Inc. increased its position in Healthequity by 7.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,686 shares of the company’s stock valued at $134,000 after purchasing an additional 191 shares during the period. Finally, Fortaleza Asset Management Inc. purchased a new position in Healthequity during the 2nd quarter valued at $138,000. 98.60% of the stock is currently owned by institutional investors.
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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