HealthEquity (NASDAQ:HQY) Rating Reiterated by Bank of America

HealthEquity (NASDAQ:HQY)‘s stock had its “buy” rating restated by investment analysts at Bank of America in a report issued on Wednesday, Benzinga reports. They currently have a $105.00 price target on the stock. Bank of America‘s price target would indicate a potential upside of 25.66% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. KeyCorp boosted their target price on shares of HealthEquity from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $92.00 target price on shares of HealthEquity in a research note on Tuesday, June 4th. JPMorgan Chase & Co. boosted their target price on shares of HealthEquity from $86.00 to $108.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. BTIG Research lifted their price target on shares of HealthEquity from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, Wells Fargo & Company lifted their price target on shares of HealthEquity from $107.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, HealthEquity currently has a consensus rating of “Moderate Buy” and an average target price of $101.67.

HealthEquity Stock Performance

NASDAQ HQY opened at $83.56 on Wednesday. The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $7.27 billion, a price-to-earnings ratio of 90.83, a P/E/G ratio of 1.44 and a beta of 0.57. The firm’s 50 day simple moving average is $81.43 and its 200 day simple moving average is $78.56. HealthEquity has a 1 year low of $61.32 and a 1 year high of $88.26.

HealthEquity (NASDAQ:HQY) last posted its quarterly earnings results on Monday, June 3rd. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.08. The business had revenue of $287.60 million for the quarter, compared to analyst estimates of $278.78 million. HealthEquity had a net margin of 7.71% and a return on equity of 7.77%. As a group, research analysts expect that HealthEquity will post 2.12 earnings per share for the current fiscal year.

Insider Activity at HealthEquity

In other news, Vice Chairman Stephen Neeleman sold 400 shares of HealthEquity stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $85.00, for a total value of $34,000.00. Following the completion of the sale, the insider now directly owns 90,515 shares in the company, valued at $7,693,775. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Vice Chairman Stephen Neeleman sold 400 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $85.00, for a total value of $34,000.00. Following the transaction, the insider now owns 90,515 shares of the company’s stock, valued at $7,693,775. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jon Kessler sold 32,326 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $82.83, for a total transaction of $2,677,562.58. Following the sale, the chief executive officer now directly owns 232,176 shares in the company, valued at approximately $19,231,138.08. The disclosure for this sale can be found here. Insiders sold a total of 34,806 shares of company stock valued at $2,888,383 in the last three months. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rise Advisors LLC bought a new position in HealthEquity during the 1st quarter worth about $28,000. Cape Investment Advisory Inc. bought a new position in HealthEquity during the 4th quarter worth about $27,000. McGlone Suttner Wealth Management Inc. bought a new position in HealthEquity during the 4th quarter worth about $29,000. YHB Investment Advisors Inc. purchased a new stake in shares of HealthEquity during the first quarter valued at about $40,000. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of HealthEquity during the first quarter valued at about $42,000. 99.55% of the stock is currently owned by institutional investors.

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.