Royal Bank of Canada Forecasts Strong Price Appreciation for HealthEquity (NASDAQ:HQY) Stock

HealthEquity (NASDAQ:HQY) had its price objective boosted by stock analysts at Royal Bank of Canada from $112.00 to $117.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 3.09% from the company’s previous close.

HQY has been the topic of several other research reports. Bank of America upped their price target on HealthEquity from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday. KeyCorp cut their price objective on shares of HealthEquity from $110.00 to $100.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Wells Fargo & Company raised their target price on HealthEquity from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Barrington Research reiterated an “outperform” rating and set a $112.00 target price on shares of HealthEquity in a research report on Friday, April 11th. Finally, JMP Securities boosted their price objective on HealthEquity from $110.00 to $117.00 and gave the company a “market outperform” rating in a research note on Wednesday. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, HealthEquity has an average rating of “Buy” and an average price target of $114.00.

HealthEquity Stock Performance

NASDAQ:HQY traded up $9.73 during trading on Wednesday, reaching $113.49. The company’s stock had a trading volume of 671,201 shares, compared to its average volume of 815,021. The firm has a market cap of $9.82 billion, a price-to-earnings ratio of 104.87, a price-to-earnings-growth ratio of 1.60 and a beta of 0.45. HealthEquity has a 12 month low of $65.01 and a 12 month high of $115.84. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.20 and a current ratio of 3.20. The firm has a 50 day moving average of $89.98 and a 200-day moving average of $97.56.

HealthEquity (NASDAQ:HQY) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.16. HealthEquity had a return on equity of 9.70% and a net margin of 8.41%. The business had revenue of $330.80 million during the quarter, compared to analyst estimates of $322.25 million. During the same period in the prior year, the company earned $0.80 earnings per share. Research analysts expect that HealthEquity will post 2.32 EPS for the current fiscal year.

Insider Activity

In other news, EVP Michael Henry Fiore sold 8,881 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $78.26, for a total transaction of $695,027.06. Following the transaction, the executive vice president now directly owns 56,655 shares of the company’s stock, valued at approximately $4,433,820.30. This trade represents a 13.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert W. Selander sold 5,750 shares of the company’s stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $77.65, for a total transaction of $446,487.50. Following the completion of the sale, the director now directly owns 84,969 shares of the company’s stock, valued at approximately $6,597,842.85. This trade represents a 6.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On HealthEquity

A number of large investors have recently bought and sold shares of the business. Wealthfront Advisers LLC acquired a new position in HealthEquity during the fourth quarter worth $10,304,089,000. Vanguard Group Inc. increased its position in HealthEquity by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 8,976,091 shares of the company’s stock worth $861,256,000 after purchasing an additional 99,624 shares during the last quarter. FMR LLC raised its stake in HealthEquity by 2.4% during the fourth quarter. FMR LLC now owns 5,415,800 shares of the company’s stock worth $519,646,000 after purchasing an additional 125,684 shares during the period. Invesco Ltd. grew its stake in shares of HealthEquity by 50.6% in the 1st quarter. Invesco Ltd. now owns 2,446,198 shares of the company’s stock valued at $216,171,000 after buying an additional 821,425 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of HealthEquity by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 2,089,398 shares of the company’s stock worth $200,522,000 after buying an additional 10,421 shares during the last quarter. 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.