HealthEquity (NASDAQ:HQY) Price Target Raised to $120.00

HealthEquity (NASDAQ:HQY) had its price target upped by Raymond James from $105.00 to $120.00 in a report released on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

HQY has been the subject of a number of other research reports. The Goldman Sachs Group began coverage on shares of HealthEquity in a research note on Friday, November 15th. They issued a “neutral” rating and a $108.00 target price for the company. JMP Securities increased their target price on HealthEquity from $105.00 to $107.00 and gave the stock a “market outperform” rating in a report on Tuesday, December 10th. BTIG Research lifted their price target on HealthEquity from $110.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Bank of America increased their price objective on shares of HealthEquity from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Barrington Research boosted their target price on shares of HealthEquity from $105.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, HealthEquity presently has a consensus rating of “Moderate Buy” and an average target price of $113.54.

HealthEquity Price Performance

Shares of HQY stock opened at $107.05 on Tuesday. The stock’s fifty day simple moving average is $104.84 and its 200 day simple moving average is $93.08. HealthEquity has a one year low of $65.01 and a one year high of $115.59. The firm has a market cap of $9.28 billion, a price-to-earnings ratio of 98.21, a P/E/G ratio of 1.60 and a beta of 0.55. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.20 and a quick ratio of 3.20.

HealthEquity (NASDAQ:HQY) last issued its quarterly earnings data on Monday, December 9th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.12). HealthEquity had a net margin of 8.41% and a return on equity of 9.70%. During the same period in the prior year, the firm earned $0.40 EPS. On average, analysts expect that HealthEquity will post 2.32 earnings per share for the current fiscal year.

Insider Buying and Selling at HealthEquity

In other news, Director Robert W. Selander sold 8,250 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $101.56, for a total value of $837,870.00. Following the completion of the sale, the director now directly owns 66,469 shares of the company’s stock, valued at $6,750,591.64. This represents a 11.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Stuart B. Parker sold 25,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $96.72, for a total transaction of $2,418,000.00. Following the completion of the sale, the director now owns 19,061 shares in the company, valued at $1,843,579.92. This represents a 56.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,000 shares of company stock worth $3,895,788. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On HealthEquity

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wealthfront Advisers LLC acquired a new stake in HealthEquity during the 4th quarter worth $10,304,089,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of HealthEquity in the fourth quarter worth about $78,107,000. Norges Bank acquired a new stake in shares of HealthEquity during the fourth quarter worth about $74,701,000. Wasatch Advisors LP lifted its holdings in shares of HealthEquity by 6.6% during the 3rd quarter. Wasatch Advisors LP now owns 7,758,890 shares of the company’s stock valued at $635,065,000 after purchasing an additional 483,269 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of HealthEquity in the 4th quarter valued at approximately $45,728,000. 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.