HealthEquity (NASDAQ:HQY) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

HealthEquity (NASDAQ:HQY - Get Free Report) had its target price increased by analysts at The Goldman Sachs Group from $94.00 to $104.00 in a report released on Wednesday, Marketbeat reports. The brokerage presently has a "neutral" rating on the stock. The Goldman Sachs Group's target price indicates a potential downside of 7.72% from the stock's previous close.

Several other research analysts also recently commented on the stock. Raymond James raised shares of HealthEquity from an "outperform" rating to a "strong-buy" rating and dropped their price objective for the company from $120.00 to $115.00 in a report on Tuesday, March 25th. Barrington Research reissued an "outperform" rating and set a $112.00 price objective on shares of HealthEquity in a report on Friday, April 11th. Royal Bank of Canada increased their price objective on shares of HealthEquity from $112.00 to $117.00 and gave the company an "outperform" rating in a report on Wednesday. Bank of America increased their price objective on shares of HealthEquity from $110.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday. Finally, JMP Securities increased their price objective on shares of HealthEquity from $110.00 to $117.00 and gave the company a "market outperform" rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, HealthEquity has a consensus rating of "Buy" and an average target price of $118.09.

HealthEquity Price Performance

HQY stock traded down $0.36 during trading on Wednesday, reaching $112.70. The company's stock had a trading volume of 1,948,931 shares, compared to its average volume of 823,847. HealthEquity has a 1 year low of $65.01 and a 1 year high of $116.69. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $9.75 billion, a P/E ratio of 103.39, a price-to-earnings-growth ratio of 1.60 and a beta of 0.45. The company's fifty day moving average is $90.99 and its 200-day moving average is $97.74.

HealthEquity (NASDAQ:HQY - Get Free Report) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.16. HealthEquity had a return on equity of 9.70% and a net margin of 8.41%. The business had revenue of $330.80 million during the quarter, compared to analyst estimates of $322.25 million. During the same quarter in the prior year, the business posted $0.80 EPS. On average, research analysts expect that HealthEquity will post 2.32 earnings per share for the current fiscal year.

Insider Activity at HealthEquity

In other HealthEquity news, Director Robert W. Selander sold 5,750 shares of the firm's stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $77.65, for a total value of $446,487.50. Following the completion of the sale, the director now owns 84,969 shares of the company's stock, valued at $6,597,842.85. This trade represents a 6.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Henry Fiore sold 8,881 shares of the firm's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $78.26, for a total transaction of $695,027.06. Following the completion of the sale, 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 insiders.

Institutional Trading of HealthEquity

Several institutional investors and hedge funds have recently modified their holdings of the stock. Ameritas Investment Partners Inc. raised its stake in shares of HealthEquity by 0.3% during the fourth quarter. Ameritas Investment Partners Inc. now owns 33,856 shares of the company's stock valued at $3,248,000 after acquiring an additional 88 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of HealthEquity by 34.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 384 shares of the company's stock valued at $37,000 after acquiring an additional 98 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of HealthEquity by 0.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 24,200 shares of the company's stock valued at $2,322,000 after acquiring an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of HealthEquity by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 17,776 shares of the company's stock valued at $1,706,000 after acquiring an additional 100 shares in the last quarter. Finally, State of Michigan Retirement System raised its stake in shares of HealthEquity by 0.5% during the fourth quarter. State of Michigan Retirement System now owns 20,722 shares of the company's stock valued at $1,988,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 99.55% of the company's stock.

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.