Barrington Research Reiterates “Outperform” Rating for HealthEquity (NASDAQ:HQY)

HealthEquity (NASDAQ:HQY)‘s stock had its “outperform” rating reissued by analysts at Barrington Research in a report released on Friday,Benzinga reports. They currently have a $110.00 price objective on the stock. Barrington Research’s price objective points to a potential upside of 25.83% from the company’s previous close.

HQY has been the subject of a number of other research reports. Barclays cut their price objective on shares of HealthEquity from $118.00 to $110.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. Raymond James Financial set a $100.00 price objective on shares of HealthEquity in a research report on Tuesday, February 17th. Jefferies Financial Group set a $108.00 price objective on shares of HealthEquity in a research report on Thursday, February 19th. JPMorgan Chase & Co. cut their price objective on shares of HealthEquity from $129.00 to $123.00 and set an “overweight” rating for the company in a research report on Wednesday, March 18th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of HealthEquity in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $111.79.

HealthEquity Stock Performance

NASDAQ:HQY traded up $0.99 during trading hours on Friday, reaching $87.42. The company had a trading volume of 223,813 shares, compared to its average volume of 989,671. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.45. HealthEquity has a 52 week low of $72.76 and a 52 week high of $116.65. The firm has a market cap of $7.33 billion, a price-to-earnings ratio of 35.54, a PEG ratio of 1.59 and a beta of 0.19. The firm’s 50 day moving average price is $82.29 and its 200-day moving average price is $86.97.

HealthEquity (NASDAQ:HQY) last posted its earnings results on Tuesday, March 17th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. HealthEquity had a net margin of 16.39% and a return on equity of 13.86%. The business had revenue of $334.59 million during the quarter, compared to the consensus estimate of $332.48 million. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, analysts forecast that HealthEquity will post 3.84 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Bank of America Corp DE lifted its stake in HealthEquity by 43.5% in the 1st quarter. Bank of America Corp DE now owns 862,008 shares of the company’s stock worth $72,038,000 after purchasing an additional 261,150 shares in the last quarter. Janus Henderson Group PLC lifted its stake in HealthEquity by 3.7% in the 1st quarter. Janus Henderson Group PLC now owns 850,411 shares of the company’s stock worth $71,068,000 after purchasing an additional 30,178 shares in the last quarter. Amundi lifted its stake in HealthEquity by 2,130.8% in the 1st quarter. Amundi now owns 67,592 shares of the company’s stock worth $5,649,000 after purchasing an additional 64,562 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in HealthEquity by 21.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 65,890 shares of the company’s stock worth $5,506,000 after purchasing an additional 11,545 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in HealthEquity by 23.7% in the 1st quarter. California State Teachers Retirement System now owns 100,604 shares of the company’s stock worth $8,407,000 after purchasing an additional 19,288 shares in the last quarter. Hedge funds and other institutional investors own 99.55% of the company’s stock.

About HealthEquity

HealthEquity, Inc (NASDAQ: HQY) is a leading administrator of consumer-directed health accounts and related benefit solutions in the United States. Founded in 2002 and headquartered in Draper, Utah, the company specializes in health savings accounts (HSAs) and offers complementary services such as flexible spending accounts (FSAs), health reimbursement arrangements (HRAs), COBRA administration and commuter benefits. Through its technology-driven platform, HealthEquity enables employers, health plans and individuals to streamline account management, improve cost transparency and encourage more informed healthcare spending.

Serving millions of members across all 50 states, HealthEquity leverages an open-architecture ecosystem that integrates with health plans, payroll providers and financial institutions.