Bank of America upgraded shares of Healthequity (NASDAQ:HQY) from a neutral rating to a buy rating in a research report released on Friday, BenzingaRatingsTable reports. Bank of America currently has $90.00 price target on the stock, up from their previous price target of $75.00.

A number of other research firms have also recently weighed in on HQY. Raymond James raised their price objective on shares of Whitecap Resources from C$8.50 to C$8.75 and gave the stock a strong-buy rating in a report on Monday, June 10th. ValuEngine cut shares of Zynerba Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, July 17th. Zacks Investment Research cut shares of HENGAN INTL GRP/ADR from a strong-buy rating to a hold rating in a report on Tuesday, May 21st. BidaskClub cut shares of Vertex Pharmaceuticals from a buy rating to a hold rating in a report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. set a $69.00 price objective on shares of Helmerich & Payne and gave the stock a buy rating in a report on Wednesday, June 5th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $87.92.

HQY stock opened at $79.18 on Friday. The company has a current ratio of 15.60, a quick ratio of 15.59 and a debt-to-equity ratio of 0.07. Healthequity has a twelve month low of $50.29 and a twelve month high of $101.58. The business’s 50 day moving average is $67.56. The firm has a market capitalization of $4.97 billion, a PE ratio of 83.35, a P/E/G ratio of 3.93 and a beta of 1.46.

Healthequity (NASDAQ:HQY) last released its quarterly earnings data on Tuesday, June 4th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.11. Healthequity had a net margin of 30.60% and a return on equity of 14.17%. The company had revenue of $87.05 million for the quarter, compared to analysts’ expectations of $83.98 million. On average, equities analysts predict that Healthequity will post 1.01 EPS for the current year.

In other Healthequity news, CEO Jon Kessler bought 10,000 shares of the stock in a transaction dated Friday, July 12th. The shares were acquired at an average cost of $61.00 per share, for a total transaction of $610,000.00. Following the completion of the transaction, the chief executive officer now owns 442,410 shares in the company, valued at approximately $26,987,010. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frank Corvino sold 9,524 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $70.86, for a total transaction of $674,870.64. Following the transaction, the director now owns 14,094 shares in the company, valued at $998,700.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,024 shares of company stock worth $1,912,611. Insiders own 3.70% of the company’s stock.

A number of large investors have recently bought and sold shares of HQY. Jackson Square Partners LLC purchased a new position in Healthequity in the 1st quarter valued at $128,524,000. Norges Bank purchased a new position in Healthequity in the 4th quarter valued at $29,950,000. Wasatch Advisors Inc. grew its position in Healthequity by 22.6% in the 1st quarter. Wasatch Advisors Inc. now owns 2,038,929 shares of the company’s stock valued at $150,840,000 after buying an additional 376,461 shares during the last quarter. Wells Fargo & Company MN grew its position in Healthequity by 40.8% in the 1st quarter. Wells Fargo & Company MN now owns 962,572 shares of the company’s stock valued at $71,212,000 after buying an additional 279,115 shares during the last quarter. Finally, Peregrine Capital Management LLC grew its position in Healthequity by 117.0% in the 2nd quarter. Peregrine Capital Management LLC now owns 487,845 shares of the company’s stock valued at $31,905,000 after buying an additional 263,014 shares during the last quarter. Hedge funds and other institutional investors own 95.98% of the company’s stock.

About Healthequity

HealthEquity, Inc provides various solutions for managing health care accounts, health reimbursement arrangements, and flexible spending accounts for health plans, insurance companies, and third-party administrators in the United States. The company offers healthcare saving and spending platform, a cloud-based platform for individuals to make health saving and spending decisions, pay healthcare bills, compare treatment options and prices, receive personalized benefit and clinical information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts.

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Analyst Recommendations for Healthequity (NASDAQ:HQY)

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