HealthEquity (NASDAQ:HQY) Price Target Raised to $126.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has raised its price target for HealthEquity (NASDAQ:HQY) from $125.00 to $126.00, indicating a potential upside of 36.65% from the current stock price.
• Several other research firms have also increased their price targets for HealthEquity, with Bank of America setting their target at $125.00 and Goldman Sachs at $104.00.
• HealthEquity's stock performance shows a 12-month high of $116.65 and a recent trading price of $92.21 with a market capitalization of $7.97 billion.

HealthEquity (NASDAQ:HQY - Get Free Report) had its price target boosted by equities research analysts at JPMorgan Chase & Co. from $125.00 to $126.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 36.65% from the stock's current price.

A number of other research firms also recently weighed in on HQY. Bank of America boosted their target price on HealthEquity from $110.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. The Goldman Sachs Group boosted their target price on HealthEquity from $94.00 to $104.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. JMP Securities boosted their target price on HealthEquity from $110.00 to $117.00 and gave the company a "market outperform" rating in a research note on Wednesday, June 4th. Barrington Research reaffirmed an "outperform" rating and issued a $125.00 price target on shares of HealthEquity in a research note on Friday, August 29th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $120.00 price target (up from $115.00) on shares of HealthEquity in a research note on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $118.58.

HealthEquity Stock Performance

Shares of HealthEquity stock traded up $3.36 during trading hours on Wednesday, hitting $92.21. 1,304,929 shares of the company's stock traded hands, compared to its average volume of 1,021,349. HealthEquity has a 12-month low of $73.84 and a 12-month high of $116.65. The stock has a market capitalization of $7.97 billion, a price-to-earnings ratio of 67.44, a PEG ratio of 1.38 and a beta of 0.50. The company has a fifty day simple moving average of $94.95 and a 200-day simple moving average of $95.36. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.06 and a quick ratio of 4.06.

HealthEquity (NASDAQ:HQY - Get Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.16. The company had revenue of $330.80 million during the quarter, compared to analyst estimates of $322.25 million. HealthEquity had a return on equity of 11.01% and a net margin of 9.80%.During the same quarter last year, the firm posted $0.80 EPS. Equities research analysts anticipate that HealthEquity will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling

In other HealthEquity news, EVP Elimelech Rosner sold 58,000 shares of HealthEquity stock in a transaction on Friday, June 6th. The stock was sold at an average price of $112.56, for a total transaction of $6,528,480.00. Following the completion of the sale, the executive vice president directly owned 75,689 shares of the company's stock, valued at $8,519,553.84. The trade was a 43.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael Henry Fiore sold 1,794 shares of HealthEquity stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $101.73, for a total value of $182,503.62. Following the completion of the transaction, the executive vice president owned 53,225 shares in the company, valued at $5,414,579.25. This trade represents a 3.26% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 291,744 shares of company stock valued at $32,705,007. Insiders own 1.50% of the company's stock.

Institutional Trading of HealthEquity

Large investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of HealthEquity by 24.7% in the 1st 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 during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in HealthEquity by 7,983.6% in the 1st 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 in the last quarter. GAMMA Investing LLC lifted its holdings in HealthEquity by 25.9% during the first quarter. GAMMA Investing LLC now owns 1,571 shares of the company's stock valued at $139,000 after purchasing an additional 323 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of HealthEquity by 995.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 639,345 shares of the company's stock worth $56,500,000 after purchasing an additional 580,988 shares in the last quarter. Finally, WCM Investment Management LLC acquired a new position in shares of HealthEquity during the 1st quarter worth about $20,230,000. Hedge funds and other institutional investors 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.

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