HealthEquity (NASDAQ:HQY) Rating Reiterated by Bank of America

HealthEquity (NASDAQ:HQY)‘s stock had its “buy” rating reissued by stock analysts at Bank of America in a research report issued on Wednesday, Benzinga reports. They presently have a $105.00 price objective on the stock. Bank of America‘s price target suggests a potential upside of 25.66% from the company’s current price.

A number of other equities research analysts also recently weighed in on HQY. Royal Bank of Canada reiterated an “outperform” rating and issued a $92.00 price target on shares of HealthEquity in a report on Tuesday, June 4th. JPMorgan Chase & Co. boosted their price target on HealthEquity from $86.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. BTIG Research boosted their price target on HealthEquity from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. JMP Securities boosted their price target on HealthEquity from $101.00 to $105.00 and gave the company a “market outperform” rating in a report on Tuesday, June 4th. Finally, Wells Fargo & Company boosted their price target on HealthEquity from $107.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $101.67.

HealthEquity Price Performance

HQY stock opened at $83.56 on Wednesday. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 0.44. HealthEquity has a 52-week low of $61.32 and a 52-week high of $88.26. The stock’s 50 day moving average is $81.43 and its two-hundred day moving average is $78.56. The company has a market capitalization of $7.27 billion, a PE ratio of 90.83, a P/E/G ratio of 1.44 and a beta of 0.57.

HealthEquity (NASDAQ:HQY) last posted its quarterly earnings data on Monday, June 3rd. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.08. HealthEquity had a return on equity of 7.77% and a net margin of 7.71%. The company had revenue of $287.60 million for the quarter, compared to the consensus estimate of $278.78 million. Analysts predict that HealthEquity will post 2.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other HealthEquity news, Vice Chairman Stephen Neeleman sold 400 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $85.00, for a total transaction of $34,000.00. Following the completion of the transaction, the insider now owns 90,515 shares in the company, valued at approximately $7,693,775. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other HealthEquity news, Vice Chairman Stephen Neeleman sold 400 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $85.00, for a total transaction of $34,000.00. Following the completion of the transaction, the insider now owns 90,515 shares in the company, valued at approximately $7,693,775. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jon Kessler sold 32,326 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $82.83, for a total value of $2,677,562.58. Following the transaction, the chief executive officer now owns 232,176 shares of the company’s stock, valued at approximately $19,231,138.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,806 shares of company stock worth $2,888,383. 2.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. GM Advisory Group LLC lifted its holdings in shares of HealthEquity by 300.8% in the fourth quarter. GM Advisory Group LLC now owns 120,355 shares of the company’s stock valued at $7,980,000 after buying an additional 90,329 shares during the period. Vontobel Holding Ltd. lifted its holdings in shares of HealthEquity by 96.3% in the fourth quarter. Vontobel Holding Ltd. now owns 73,564 shares of the company’s stock valued at $4,877,000 after buying an additional 36,085 shares during the period. Mackenzie Financial Corp raised its position in shares of HealthEquity by 58.2% during the fourth quarter. Mackenzie Financial Corp now owns 1,807,407 shares of the company’s stock worth $119,831,000 after purchasing an additional 664,979 shares during the period. Forest Hill Capital LLC acquired a new stake in shares of HealthEquity during the fourth quarter worth $2,021,000. Finally, Norges Bank acquired a new stake in shares of HealthEquity during the fourth quarter worth $43,482,000. 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.