Bank of America Boosts HealthEquity (NASDAQ:HQY) Price Target to $120.00

HealthEquity (NASDAQ:HQY) had its price objective raised by Bank of America from $100.00 to $120.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

HQY has been the topic of a number of other reports. JMP Securities reaffirmed a “market outperform” rating and issued a $105.00 target price on shares of HealthEquity in a report on Wednesday, September 4th. Barrington Research reaffirmed an “outperform” rating and set a $105.00 price objective on shares of HealthEquity in a research report on Friday, September 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $92.00 target price on shares of HealthEquity in a report on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of HealthEquity from $102.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, HealthEquity presently has a consensus rating of “Moderate Buy” and an average target price of $107.23.

HealthEquity Price Performance

Shares of HQY opened at $98.98 on Wednesday. HealthEquity has a twelve month low of $62.10 and a twelve month high of $101.17. The company has a market capitalization of $8.64 billion, a P/E ratio of 82.48, a price-to-earnings-growth ratio of 1.48 and a beta of 0.52. The firm has a 50 day moving average of $85.02 and a 200 day moving average of $81.08. The company has a quick ratio of 4.10, a current ratio of 4.10 and a debt-to-equity ratio of 0.51.

HealthEquity (NASDAQ:HQY) last released its quarterly earnings data on Tuesday, September 3rd. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.16. The firm had revenue of $299.93 million during the quarter, compared to analysts’ expectations of $284.48 million. HealthEquity had a net margin of 9.61% and a return on equity of 9.01%. As a group, equities research analysts anticipate that HealthEquity will post 2.27 earnings per share for the current fiscal year.

Insider Transactions at HealthEquity

In related news, Director Robert W. Selander sold 8,250 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $82.98, for a total transaction of $684,585.00. Following the completion of the transaction, the director now owns 54,719 shares in the company, valued at $4,540,582.62. This represents a 13.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank Corvino sold 1,247 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $80.26, for a total value of $100,084.22. Following the completion of the transaction, the director now owns 4,823 shares in the company, valued at approximately $387,093.98. This trade represents a 20.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,536 shares of company stock worth $884,517 over the last quarter. 2.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of HealthEquity by 1.7% in the 1st 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. Vaughan Nelson Investment Management L.P. grew its holdings in shares of HealthEquity by 1.8% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 616,860 shares of the company’s stock worth $53,173,000 after purchasing an additional 11,150 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of HealthEquity by 29.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 64,214 shares of the company’s stock worth $5,535,000 after purchasing an additional 14,573 shares during the last quarter. Diversify Wealth Management LLC purchased a new stake in HealthEquity in the 2nd quarter valued at about $8,182,000. Finally, Sequoia Financial Advisors LLC acquired a new position in HealthEquity in the second quarter valued at about $1,122,000. 99.55% of the stock is owned by hedge funds and other institutional investors.

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.