HealthEquity, Inc. (HQY) Stock Rating Lowered by Zacks Investment Research
HealthEquity, Inc. (NASDAQ:HQY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “HealthEquity, Inc. is a technology-enabled services platforms that empower consumers to make healthcare saving and spending decisions. The Company’s platform provides an ecosystem where consumers can access their tax-advantaged healthcare savings, compare treatment options and pricing, evaluate and pay healthcare bills, receive personalized benefit and clinical information, earn wellness incentives, and make educated investment choices to grow their tax-advantaged healthcare savings. HealthEquity, Inc. is headquartered in Draper, Utah. “
Other research analysts have also issued research reports about the company. BidaskClub upgraded HealthEquity from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. TheStreet upgraded HealthEquity from a “c” rating to a “b” rating in a research report on Monday, July 31st. Robert W. Baird reiterated a “hold” rating on shares of HealthEquity in a research report on Thursday, September 21st. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $61.00 price target on shares of HealthEquity in a research report on Wednesday, September 6th. Finally, Cantor Fitzgerald reiterated a “buy” rating and set a $56.00 price target on shares of HealthEquity in a research report on Tuesday, September 5th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $57.50.
HealthEquity (NASDAQ HQY) opened at $50.74 on Wednesday. The company has a market capitalization of $3,015.97, a P/E ratio of 79.14, a PEG ratio of 2.19 and a beta of 1.77. HealthEquity has a 12-month low of $37.62 and a 12-month high of $55.31.
HealthEquity (NASDAQ:HQY) last issued its earnings results on Tuesday, September 5th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.14 by $0.13. The company had revenue of $56.90 million during the quarter, compared to analyst estimates of $55.66 million. HealthEquity had a return on equity of 13.93% and a net margin of 20.27%. The business’s revenue was up 28.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 EPS. research analysts expect that HealthEquity will post 0.7 earnings per share for the current year.
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In other news, VP Darcy G. Mott sold 9,500 shares of the business’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $42.00, for a total transaction of $399,000.00. Following the sale, the vice president now directly owns 84,500 shares of the company’s stock, valued at $3,549,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Neeleman sold 8,500 shares of HealthEquity stock in a transaction on Friday, September 15th. The shares were sold at an average price of $45.24, for a total value of $384,540.00. Following the transaction, the insider now owns 1,000 shares in the company, valued at approximately $45,240. The disclosure for this sale can be found here. Insiders have sold 1,563,591 shares of company stock worth $81,519,756 over the last ninety days. 29.00% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the company. Zions Bancorporation purchased a new position in HealthEquity in the third quarter valued at about $119,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in HealthEquity by 105.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,544 shares of the company’s stock valued at $127,000 after purchasing an additional 1,308 shares in the last quarter. Riverhead Capital Management LLC boosted its stake in shares of HealthEquity by 75.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,629 shares of the company’s stock worth $131,000 after acquiring an additional 1,129 shares in the last quarter. Exane Derivatives bought a new stake in shares of HealthEquity during the 2nd quarter worth about $132,000. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of HealthEquity by 7.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,686 shares of the company’s stock worth $134,000 after acquiring an additional 191 shares in the last quarter. Institutional investors and hedge funds own 91.75% of the company’s stock.
HealthEquity Company Profile
HealthEquity, Inc provides a range of solutions for managing healthcare accounts (Health Savings Accounts (HSAs), Health Reimbursement Arrangements (HRAs) and Flexible Spending Accounts (FSAs)) for health plans, insurance companies and third-party administrators. The Company is engaged in technology-enabled services platforms that allow consumers to make healthcare saving and spending decisions.
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