HealthEquity (NASDAQ:HQY) Shares Up 4.5% Following Analyst Upgrade

Shares of HealthEquity, Inc. (NASDAQ:HQY) shot up 4.5% during mid-day trading on Wednesday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $102.00 to $103.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. HealthEquity traded as high as $82.35 and last traded at $82.20. 362,319 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 617,661 shares. The stock had previously closed at $78.63.

A number of other brokerages have also recently issued reports on HQY. JMP Securities reaffirmed a “market outperform” rating and set a $105.00 target price on shares of HealthEquity in a research report on Wednesday. Wells Fargo & Company upped their price objective on shares of HealthEquity from $107.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Robert W. Baird lifted their target price on shares of HealthEquity from $98.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, June 4th. Barrington Research restated an “outperform” rating and set a $105.00 price target on shares of HealthEquity in a report on Friday, August 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $92.00 price objective on shares of HealthEquity in a research note on Wednesday. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $103.83.

Insider Buying and Selling

In other HealthEquity news, Vice Chairman Stephen Neeleman sold 35,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $79.86, for a total value of $2,795,100.00. Following the completion of the transaction, the insider now owns 89,769 shares of the company’s stock, valued at approximately $7,168,952.34. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Frank Corvino sold 7,705 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $81.89, for a total transaction 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 approximately $497,072.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Stephen Neeleman sold 35,000 shares of HealthEquity stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $79.86, for a total transaction of $2,795,100.00. Following the sale, the insider now owns 89,769 shares in the company, valued at $7,168,952.34. 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 over the last three months. 2.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On HealthEquity

Institutional investors have recently added to or reduced their stakes in the stock. Brown Financial Advisors acquired a new position in shares of HealthEquity in the 2nd quarter worth approximately $331,000. Clearbridge Investments LLC grew its position in HealthEquity by 1.9% in the second quarter. Clearbridge Investments LLC now owns 2,377,204 shares of the company’s stock valued at $204,915,000 after acquiring an additional 43,491 shares during the period. Truist Financial Corp raised its stake in HealthEquity by 7.0% during the second quarter. Truist Financial Corp now owns 2,864 shares of the company’s stock worth $247,000 after acquiring an additional 188 shares in the last quarter. Chase Investment Counsel Corp lifted its holdings in shares of HealthEquity by 19.1% during the second quarter. Chase Investment Counsel Corp now owns 40,986 shares of the company’s stock valued at $3,532,000 after acquiring an additional 6,572 shares during the period. Finally, Creative Planning boosted its stake in shares of HealthEquity by 25.0% in the 2nd quarter. Creative Planning now owns 19,926 shares of the company’s stock valued at $1,718,000 after purchasing an additional 3,983 shares in the last quarter. 99.55% of the stock is owned by institutional investors and hedge funds.

HealthEquity Price Performance

The company has a market cap of $6.92 billion, a price-to-earnings ratio of 86.40, a P/E/G ratio of 1.34 and a beta of 0.52. The company has a debt-to-equity ratio of 0.44, a quick ratio of 4.39 and a current ratio of 4.39. The company’s 50 day moving average price is $77.23 and its 200 day moving average price is $79.70.

HealthEquity (NASDAQ:HQY) last issued its quarterly earnings data on Monday, June 3rd. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.08. The firm had revenue of $287.60 million for the quarter, compared to analysts’ expectations of $278.78 million. HealthEquity had a net margin of 7.71% and a return on equity of 7.77%. On average, equities research analysts predict that HealthEquity, Inc. will post 2.12 earnings per share for the current fiscal year.

About HealthEquity

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.