Healthequity (HQY) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Healthequity (NASDAQ:HQY) from a hold rating to a buy rating in a research report released on Saturday. Zacks Investment Research currently has $57.00 price objective on the stock.
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. “
Several other equities analysts have also commented on the stock. Cantor Fitzgerald increased their price objective on shares of Healthequity from $56.00 to $60.00 and gave the company an overweight rating in a research report on Wednesday, February 7th. Robert W. Baird increased their price objective on shares of Healthequity from $48.00 to $49.00 and gave the company a neutral rating in a research report on Wednesday, February 7th. JPMorgan Chase & Co. lowered their target price on shares of Healthequity from $52.00 to $51.00 and set an overweight rating for the company in a report on Wednesday, January 24th. Citigroup began coverage on shares of Healthequity in a report on Thursday, January 4th. They issued a buy rating for the company. Finally, BidaskClub upgraded shares of Healthequity from a sell rating to a hold rating in a report on Friday, December 22nd. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $56.67.
Healthequity (NASDAQ:HQY) last released its quarterly earnings data on Tuesday, December 5th. The company reported $0.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.04. Healthequity had a net margin of 21.08% and a return on equity of 14.47%. The business had revenue of $56.80 million during the quarter, compared to analyst estimates of $55.27 million. During the same quarter last year, the business earned $0.10 earnings per share. Healthequity’s quarterly revenue was up 31.0% compared to the same quarter last year. equities analysts expect that Healthequity will post 0.73 earnings per share for the current fiscal year.
In related news, VP Ashley Dreier sold 10,000 shares of Healthequity stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $50.97, for a total transaction of $509,700.00. Following the completion of the sale, the vice president now owns 15,652 shares in the company, valued at approximately $797,782.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Berkley Capital, Llc sold 100,000 shares of Healthequity stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $51.25, for a total transaction of $5,125,000.00. The disclosure for this sale can be found here. Insiders sold a total of 820,726 shares of company stock valued at $42,080,968 in the last 90 days. Company insiders own 19.00% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in Healthequity by 3.8% during the 4th quarter. BlackRock Inc. now owns 6,751,491 shares of the company’s stock valued at $315,026,000 after buying an additional 244,819 shares in the last quarter. Vanguard Group Inc. increased its position in Healthequity by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 4,237,298 shares of the company’s stock valued at $211,145,000 after purchasing an additional 122,061 shares during the period. Wasatch Advisors Inc. increased its position in Healthequity by 2.2% during the 2nd quarter. Wasatch Advisors Inc. now owns 2,442,180 shares of the company’s stock valued at $121,694,000 after purchasing an additional 52,885 shares during the period. State Street Corp increased its position in Healthequity by 10.8% during the 2nd quarter. State Street Corp now owns 1,172,117 shares of the company’s stock valued at $58,411,000 after purchasing an additional 114,294 shares during the period. Finally, Eagle Asset Management Inc. increased its position in Healthequity by 58.6% during the 4th quarter. Eagle Asset Management Inc. now owns 1,136,645 shares of the company’s stock valued at $53,206,000 after purchasing an additional 419,914 shares during the period. Institutional investors own 98.63% of the company’s stock.
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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