HealthEquity (NASDAQ:HQY) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of HealthEquity (NASDAQ:HQY) from a buy rating to a hold rating in a research report released on Saturday.

HQY has been the topic of several other research reports. BMO Capital Markets raised HealthEquity from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $85.00 to $105.00 in a research report on Thursday, April 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of HealthEquity in a research report on Thursday, January 22nd. UBS Group set a $110.00 price objective on HealthEquity in a research report on Tuesday, February 17th. Raymond James Financial set a $100.00 price objective on HealthEquity in a research report on Tuesday, February 17th. Finally, Jefferies Financial Group set a $108.00 target price on HealthEquity in a report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, HealthEquity presently has a consensus rating of “Moderate Buy” and an average target price of $111.79.

HealthEquity Stock Performance

Shares of HealthEquity stock opened at $84.84 on Friday. The stock’s fifty day moving average is $81.30 and its two-hundred day moving average is $87.78. The company has a market capitalization of $7.17 billion, a PE ratio of 34.49, a price-to-earnings-growth ratio of 1.54 and a beta of 0.19. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.45. HealthEquity has a 52 week low of $72.76 and a 52 week high of $116.65.

HealthEquity (NASDAQ:HQY) last announced its quarterly earnings data on Tuesday, March 17th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.90 by $0.05. The company had revenue of $334.59 million for the quarter, compared to the consensus estimate of $332.48 million. HealthEquity had a return on equity of 13.86% and a net margin of 16.39%.The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, analysts expect that HealthEquity will post 3.84 earnings per share for the current year.

Institutional Investors Weigh In On HealthEquity

Several hedge funds have recently made changes to their positions in HQY. Acumen Wealth Advisors LLC purchased a new stake in shares of HealthEquity in the 4th quarter worth $27,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of HealthEquity by 1,723.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 310 shares of the company’s stock worth $28,000 after buying an additional 293 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of HealthEquity in the 4th quarter worth $28,000. Leonteq Securities AG lifted its holdings in shares of HealthEquity by 159.9% in the 1st quarter. Leonteq Securities AG now owns 382 shares of the company’s stock worth $32,000 after buying an additional 235 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in shares of HealthEquity by 59.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 392 shares of the company’s stock worth $37,000 after buying an additional 146 shares during the period. 99.55% of the stock is currently owned by hedge funds and other institutional investors.

About HealthEquity

HealthEquity, Inc (NASDAQ: HQY) is a leading administrator of consumer-directed health accounts and related benefit solutions in the United States. Founded in 2002 and headquartered in Draper, Utah, the company specializes in health savings accounts (HSAs) and offers complementary services such as flexible spending accounts (FSAs), health reimbursement arrangements (HRAs), COBRA administration and commuter benefits. Through its technology-driven platform, HealthEquity enables employers, health plans and individuals to streamline account management, improve cost transparency and encourage more informed healthcare spending.

Serving millions of members across all 50 states, HealthEquity leverages an open-architecture ecosystem that integrates with health plans, payroll providers and financial institutions.