HealthEquity (NASDAQ:HQY) PT Lowered to $100.00 at Bank of America

HealthEquity (NASDAQ:HQY) had its price target reduced by Bank of America from $105.00 to $100.00 in a report released on Wednesday, Benzinga reports. Bank of America currently has a buy rating on the stock.

Several other brokerages have also weighed in on HQY. Raymond James lifted their target price on shares of HealthEquity from $100.00 to $105.00 and gave the company an outperform rating in a research report on Friday, June 7th. Robert W. Baird lifted their price objective on HealthEquity from $98.00 to $104.00 and gave the company an outperform rating in a report on Tuesday, June 4th. JMP Securities increased their target price on HealthEquity from $101.00 to $105.00 and gave the stock a market outperform rating in a report on Tuesday, June 4th. Royal Bank of Canada reaffirmed an outperform rating and issued a $92.00 price target on shares of HealthEquity in a research note on Tuesday, June 4th. Finally, Barrington Research reiterated an outperform rating and set a $105.00 price objective on shares of HealthEquity in a research note on Friday, August 30th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $103.83.

HealthEquity Stock Down 4.1 %

Shares of HQY stock opened at $76.24 on Wednesday. HealthEquity has a one year low of $61.81 and a one year high of $88.26. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.39 and a quick ratio of 4.39. The stock has a fifty day moving average price of $77.03 and a 200 day moving average price of $79.66. The stock has a market cap of $6.63 billion, a P/E ratio of 82.87, a price-to-earnings-growth ratio of 1.34 and a beta of 0.52.

Insiders Place Their Bets

In other HealthEquity news, Director Frank Corvino sold 7,705 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $81.89, for a total value of $630,962.45. Following the completion of the transaction, the director now directly owns 6,070 shares of the company’s stock, valued at $497,072.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Jon Kessler sold 32,326 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $82.83, for a total value of $2,677,562.58. Following the transaction, the chief executive officer now owns 232,176 shares in the company, valued at $19,231,138.08. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frank Corvino sold 7,705 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $81.89, for a total value of $630,962.45. Following the sale, the director now directly owns 6,070 shares of the company’s stock, valued at $497,072.30. The disclosure for this sale can be found here. Insiders have sold a total of 75,031 shares of company stock valued at $6,103,625 in the last 90 days. 2.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On HealthEquity

Several institutional investors have recently modified their holdings of HQY. GM Advisory Group LLC boosted its stake in HealthEquity by 300.8% in the fourth quarter. GM Advisory Group LLC now owns 120,355 shares of the company’s stock valued at $7,980,000 after acquiring an additional 90,329 shares during the last quarter. Forest Hill Capital LLC acquired a new stake in shares of HealthEquity during the fourth quarter worth $2,021,000. Norges Bank bought a new stake in HealthEquity in the fourth quarter valued at about $43,482,000. Vanguard Group Inc. lifted its stake in HealthEquity by 1.7% in the first quarter. Vanguard Group Inc. now owns 8,768,632 shares of the company’s stock valued at $715,783,000 after buying an additional 149,133 shares during the period. Finally, Diversify Advisory Services LLC bought a new position in HealthEquity during the first quarter worth about $7,828,000. Institutional investors and hedge funds own 99.55% of the company’s stock.

HealthEquity Company Profile

HealthEquity, Inc provides technology-enabled services platforms to consumers and employers in the United States. The company offers cloud-based platforms for individuals to make health saving and spending decisions, pay healthcare bills, receive personalized benefit information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts.