Bank of America Forecasts Strong Price Appreciation for HealthEquity (NASDAQ:HQY) Stock

HealthEquity (NASDAQ:HQY) had its price objective hoisted by equities researchers at Bank of America from $100.00 to $120.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price target suggests a potential upside of 25.39% from the company’s current price.

A number of other analysts also recently weighed in on HQY. Royal Bank of Canada restated an “outperform” rating and issued a $92.00 price target on shares of HealthEquity in a research note on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft upped their price target on shares of HealthEquity from $102.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Barrington Research reiterated an “outperform” rating and issued a $105.00 price target on shares of HealthEquity in a report on Friday, September 20th. Finally, JMP Securities reissued a “market outperform” rating and set a $105.00 price objective on shares of HealthEquity in a report on Wednesday, September 4th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, HealthEquity presently has an average rating of “Buy” and a consensus target price of $107.17.

HealthEquity Trading Up 0.9 %

Shares of HQY stock opened at $95.70 on Wednesday. The company has a current ratio of 4.10, a quick ratio of 4.10 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $84.56 and its two-hundred day moving average is $80.94. HealthEquity has a twelve month low of $62.10 and a twelve month high of $101.17. The company has a market capitalization of $8.36 billion, a P/E ratio of 79.75, a price-to-earnings-growth ratio of 1.48 and a beta of 0.52.

HealthEquity (NASDAQ:HQY) last released its earnings results on Tuesday, September 3rd. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.50 by $0.16. HealthEquity had a net margin of 9.61% and a return on equity of 9.01%. The company had revenue of $299.93 million during the quarter, compared to analysts’ expectations of $284.48 million. Equities analysts forecast that HealthEquity will post 2.27 EPS for the current year.

Insider Activity at HealthEquity

In other HealthEquity news, Director Robert W. Selander sold 8,250 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $82.98, for a total transaction of $684,585.00. Following the transaction, the director now owns 54,719 shares of the company’s stock, valued at $4,540,582.62. This represents a 13.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Frank Corvino sold 1,039 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $96.10, for a total value of $99,847.90. Following the sale, the director now owns 3,784 shares in the company, valued at $363,642.40. This trade represents a 21.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,536 shares of company stock valued at $884,517. 2.20% of the stock is owned by corporate insiders.

Institutional Trading of HealthEquity

Several institutional investors have recently made changes to their positions in the stock. Wasatch Advisors LP boosted its holdings in HealthEquity by 6.6% in the third quarter. Wasatch Advisors LP now owns 7,758,890 shares of the company’s stock valued at $635,065,000 after acquiring an additional 483,269 shares during the last quarter. Edgestream Partners L.P. purchased a new position in shares of HealthEquity in the 3rd quarter worth about $1,228,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of HealthEquity by 1.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 329,477 shares of the company’s stock valued at $26,968,000 after purchasing an additional 6,197 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of HealthEquity by 28.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,526 shares of the company’s stock worth $1,844,000 after purchasing an additional 4,993 shares during the period. Finally, Townsquare Capital LLC increased its position in HealthEquity by 3.9% during the 3rd quarter. Townsquare Capital LLC now owns 22,292 shares of the company’s stock worth $1,825,000 after purchasing an additional 839 shares in the last quarter. 99.55% of the stock is owned by hedge funds and other institutional investors.

HealthEquity Company Profile

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.