Wells Fargo & Company Forecasts Strong Price Appreciation for HealthEquity (NASDAQ:HQY) Stock

HealthEquity (NASDAQ:HQY) had its price target upped by stock analysts at Wells Fargo & Company from $110.00 to $125.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 16.77% from the stock’s current price.

A number of other analysts also recently commented on HQY. Raymond James boosted their price objective on HealthEquity from $105.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday. Royal Bank of Canada boosted their target price on shares of HealthEquity from $100.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. BTIG Research increased their price target on shares of HealthEquity from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Mizuho began coverage on HealthEquity in a report on Wednesday, December 4th. They set an “outperform” rating and a $126.00 price objective for the company. Finally, Bank of America lifted their target price on shares of HealthEquity from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, HealthEquity has a consensus rating of “Moderate Buy” and a consensus target price of $113.54.

HealthEquity Stock Performance

Shares of HQY opened at $107.05 on Wednesday. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.51. The company has a 50-day simple moving average of $104.84 and a 200-day simple moving average of $93.08. HealthEquity has a 52-week low of $65.01 and a 52-week high of $115.59. The company has a market capitalization of $9.28 billion, a PE ratio of 98.21, a P/E/G ratio of 1.60 and a beta of 0.55.

HealthEquity (NASDAQ:HQY) last posted its earnings results on Monday, December 9th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate 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 quarter in the previous year, the company earned $0.40 EPS. Equities research analysts predict that HealthEquity will post 2.32 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Robert W. Selander sold 5,750 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $111.29, for a total value of $639,917.50. Following the completion of the transaction, the director now directly owns 78,219 shares of the company’s stock, valued at $8,704,992.51. This trade represents a 6.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stuart B. Parker sold 25,000 shares of HealthEquity stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $96.72, for a total transaction of $2,418,000.00. Following 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 position. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,000 shares of company stock valued at $3,895,788. 2.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On HealthEquity

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wealthfront Advisers LLC acquired a new stake in shares of HealthEquity in the 4th quarter valued at $10,304,089,000. T. Rowe Price Investment Management Inc. bought a new stake in HealthEquity during the fourth quarter worth about $78,107,000. Norges Bank bought a new position in shares of HealthEquity in the fourth quarter valued at approximately $74,701,000. Wasatch Advisors LP boosted its holdings in shares of HealthEquity by 6.6% in the 3rd quarter. Wasatch Advisors LP now owns 7,758,890 shares of the company’s stock worth $635,065,000 after acquiring an additional 483,269 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in HealthEquity during the 4th quarter worth approximately $45,728,000. 99.55% of the stock is 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.