Wall Street Zen Upgrades HealthEquity (NASDAQ:HQY) to “Buy”

Wall Street Zen upgraded shares of HealthEquity (NASDAQ:HQY) from a hold rating to a buy rating in a report published on Friday.

A number of other research firms also recently weighed in on HQY. Bank of America upped their target price on HealthEquity from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday. The Goldman Sachs Group upped their target price on HealthEquity from $94.00 to $104.00 and gave the company a “neutral” rating in a research report on Wednesday. Wells Fargo & Company upped their target price on HealthEquity from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft upped their price objective on HealthEquity from $98.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, JMP Securities upped their price objective on HealthEquity from $110.00 to $117.00 and gave the stock a “market outperform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $118.09.

HealthEquity Stock Performance

NASDAQ:HQY opened at $111.55 on Friday. The stock has a fifty day moving average price of $91.48 and a 200-day moving average price of $97.80. The company has a market cap of $9.65 billion, a price-to-earnings ratio of 102.34, a PEG ratio of 1.60 and a beta of 0.45. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.20 and a current ratio of 3.20. HealthEquity has a fifty-two week low of $65.01 and a fifty-two week high of $116.65.

HealthEquity (NASDAQ:HQY) last released its earnings results on Tuesday, June 3rd. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.16. The firm had revenue of $330.80 million during the quarter, compared to the consensus estimate of $322.25 million. HealthEquity had a return on equity of 9.70% and a net margin of 8.41%. During the same period in the prior year, the company posted $0.80 EPS. As a group, equities analysts anticipate that HealthEquity will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling

In other HealthEquity news, Director Robert W. Selander sold 5,750 shares of the company’s stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $77.65, for a total value of $446,487.50. Following the completion of the transaction, the director now owns 84,969 shares of the company’s stock, valued at $6,597,842.85. This represents a 6.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael Henry Fiore sold 8,881 shares of the company’s stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $78.26, for a total value of $695,027.06. Following the completion of the transaction, the executive vice president now directly owns 56,655 shares of the company’s stock, valued at approximately $4,433,820.30. The trade was a 13.55% decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On HealthEquity

A number of institutional investors and hedge funds have recently bought and sold shares of HQY. Arcadia Investment Management Corp MI acquired a new position in HealthEquity in the 4th quarter worth about $26,000. Versant Capital Management Inc acquired a new stake in shares of HealthEquity in the first quarter valued at about $28,000. WPG Advisers LLC acquired a new stake in shares of HealthEquity in the first quarter valued at about $28,000. Transce3nd LLC acquired a new stake in shares of HealthEquity in the fourth quarter valued at about $29,000. Finally, Smartleaf Asset Management LLC increased its stake in shares of HealthEquity by 34.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 384 shares of the company’s stock valued at $37,000 after buying an additional 98 shares during the period. Institutional investors and hedge funds own 99.55% of the company’s stock.

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.