HealthEquity, Inc. (NASDAQ:HQY) Given Consensus Recommendation of "Buy" by Brokerages

Key Points

• HealthEquity, Inc. has received a consensus recommendation of "Buy" from thirteen ratings firms, with the average price target set at $119.77.
• Recent price targets set by analysts include $120.00 by Raymond James and $126.00 by JPMorgan Chase & Co., indicating strong confidence in the company's growth potential.
• Wealth Enhancement Advisory Services has increased its stake in HealthEquity by 24.7%, reflecting growing interest from institutional investors in the company.

Shares of HealthEquity, Inc. (NASDAQ:HQY - Get Free Report) have received a consensus rating of "Buy" from the thirteen ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $119.7692.

A number of analysts have weighed in on the company. Raymond James Financial reaffirmed a "strong-buy" rating and set a $120.00 price objective (up from $115.00) on shares of HealthEquity in a research report on Tuesday, July 8th. JMP Securities upped their price target on HealthEquity from $110.00 to $117.00 and gave the stock a "market outperform" rating in a research note on Wednesday, June 4th. JPMorgan Chase & Co. increased their price target on HealthEquity from $125.00 to $126.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. Wall Street Zen upgraded shares of HealthEquity from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Finally, Jefferies Financial Group upped their price objective on shares of HealthEquity from $130.00 to $134.00 and gave the stock a "buy" rating in a research report on Wednesday, September 3rd.

HealthEquity Price Performance

Shares of NASDAQ:HQY opened at $92.34 on Friday. HealthEquity has a one year low of $74.07 and a one year high of $116.65. The stock has a market capitalization of $7.96 billion, a price-to-earnings ratio of 55.96, a PEG ratio of 1.31 and a beta of 0.50. The company has a 50-day simple moving average of $93.60 and a 200-day simple moving average of $94.60. The company has a debt-to-equity ratio of 0.47, a quick ratio of 4.23 and a current ratio of 4.23.

Insider Activity

In related news, EVP Michael Henry Fiore sold 1,794 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $101.73, for a total transaction of $182,503.62. Following the completion of the transaction, the executive vice president directly owned 53,225 shares of the company's stock, valued at $5,414,579.25. This represents a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On HealthEquity

A number of large investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC boosted its stake in shares of HealthEquity by 24.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,380 shares of the company's stock valued at $564,000 after buying an additional 1,265 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in HealthEquity by 7,983.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,655 shares of the company's stock worth $2,179,000 after acquiring an additional 24,350 shares during the period. GAMMA Investing LLC raised its position in HealthEquity by 25.9% in the first quarter. GAMMA Investing LLC now owns 1,571 shares of the company's stock worth $139,000 after acquiring an additional 323 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in HealthEquity by 995.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 639,345 shares of the company's stock valued at $56,500,000 after acquiring an additional 580,988 shares during the period. Finally, WCM Investment Management LLC acquired a new stake in HealthEquity in the first quarter valued at $20,230,000. 99.55% of the stock is owned by hedge funds and other institutional investors.

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.

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