JMP Securities Reaffirms Market Outperform Rating for HealthEquity (NASDAQ:HQY)

HealthEquity (NASDAQ:HQY)‘s stock had its “market outperform” rating restated by investment analysts at JMP Securities in a note issued to investors on Wednesday, Benzinga reports. They currently have a $105.00 target price on the stock. JMP Securities’ price objective would indicate a potential upside of 32.09% from the stock’s current price.

HQY has been the topic of a number of other reports. KeyCorp increased their price objective on shares of HealthEquity from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, June 5th. Barrington Research restated an “outperform” rating and issued a $105.00 price target on shares of HealthEquity in a research note on Friday, August 30th. Wells Fargo & Company lifted their price target on HealthEquity from $107.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Robert W. Baird increased their price objective on HealthEquity from $98.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, June 4th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $92.00 target price on shares of HealthEquity in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $103.83.

HealthEquity Trading Down 3.8 %

HQY opened at $79.49 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.39 and a quick ratio of 4.39. The stock has a market capitalization of $6.92 billion, a price-to-earnings ratio of 86.40, a PEG ratio of 1.34 and a beta of 0.52. The business has a fifty day moving average price of $77.23 and a 200 day moving average price of $79.70. HealthEquity has a 12 month low of $61.81 and a 12 month high of $88.26.

HealthEquity (NASDAQ:HQY) last released its earnings results on Monday, June 3rd. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.08. The firm 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%. Sell-side analysts expect that HealthEquity will post 2.12 earnings per share for the current fiscal year.

Insider Activity

In other news, Vice Chairman Stephen Neeleman sold 35,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $79.86, for a total value of $2,795,100.00. Following the completion of the sale, the insider now directly owns 89,769 shares of the company’s stock, valued at $7,168,952.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Frank Corvino sold 7,705 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $81.89, for a total transaction of $630,962.45. Following the completion of the sale, the director now directly owns 6,070 shares of the company’s stock, valued at $497,072.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Stephen Neeleman sold 35,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider now directly 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 75,031 shares of company stock valued at $6,103,625 in the last ninety days. 2.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Lindbrook Capital LLC grew its holdings in HealthEquity by 22.7% during the first quarter. Lindbrook Capital LLC now owns 698 shares of the company’s stock worth $57,000 after acquiring an additional 129 shares during the period. Truist Financial Corp grew its stake in shares of HealthEquity by 7.0% during the 2nd quarter. Truist Financial Corp now owns 2,864 shares of the company’s stock worth $247,000 after purchasing an additional 188 shares during the period. O Shaughnessy Asset Management LLC grew its stake in shares of HealthEquity by 3.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 5,219 shares of the company’s stock worth $426,000 after purchasing an additional 197 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of HealthEquity by 7.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,854 shares of the company’s stock valued at $246,000 after purchasing an additional 198 shares in the last quarter. Finally, KLR Investment Advisors LLC lifted its stake in shares of HealthEquity by 4.2% in the fourth quarter. KLR Investment Advisors LLC now owns 5,914 shares of the company’s stock valued at $392,000 after purchasing an additional 241 shares during the period. 99.55% of the stock is currently owned by institutional investors and hedge funds.

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.