HealthEquity (NASDAQ:HQY) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded HealthEquity (NASDAQ:HQY) from a "buy" to a "hold" in its most recent research note.
• HealthEquity beat analysts' estimates for the most recent quarter with $0.95 EPS versus $0.90 expected and revenue of $334.6 million (up 7.3% year-over-year).
• Analysts remain mixed but the consensus is a "Moderate Buy" with an average price target of $110.36 while the stock recently traded near $82.51.

HealthEquity (NASDAQ:HQY - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

HQY has been the topic of several other research reports. Raymond James Financial set a $100.00 target price on HealthEquity in a research note on Tuesday, February 17th. KeyCorp raised their price target on shares of HealthEquity from $120.00 to $125.00 and gave the company an "overweight" rating in a report on Thursday, January 8th. The Goldman Sachs Group downgraded shares of HealthEquity from a "neutral" rating to a "sell" rating and set a $89.00 price objective on the stock. in a research report on Friday, January 9th. Weiss Ratings reiterated a "hold (c+)" rating on shares of HealthEquity in a research note on Thursday, January 22nd. Finally, Citizens Jmp set a $122.00 target price on shares of HealthEquity in a research report on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $110.36.

HealthEquity Stock Down 1.6%

Shares of NASDAQ HQY opened at $82.51 on Friday. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $6.97 billion, a PE ratio of 33.54, a price-to-earnings-growth ratio of 1.52 and a beta of 0.26. The stock's fifty day simple moving average is $80.04 and its two-hundred day simple moving average is $89.70. HealthEquity has a 12-month low of $72.76 and a 12-month high of $116.65.

HealthEquity (NASDAQ:HQY - Get Free Report) last announced its quarterly earnings results on Tuesday, March 17th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.05. The business had revenue of $334.59 million for the quarter, compared to the consensus estimate of $332.48 million. HealthEquity had a return on equity of 13.86% and a net margin of 16.39%.HealthEquity's quarterly revenue was up 7.3% compared to the same quarter last year. As a group, analysts expect that HealthEquity will post 2.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Rockefeller Capital Management L.P. lifted its holdings in shares of HealthEquity by 61.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 14,491 shares of the company's stock worth $1,328,000 after purchasing an additional 5,541 shares during the period. Montanaro Asset Management Ltd increased its holdings in HealthEquity by 13.1% in the 4th quarter. Montanaro Asset Management Ltd now owns 37,200 shares of the company's stock worth $3,408,000 after buying an additional 4,300 shares during the period. Corient Private Wealth LLC acquired a new position in HealthEquity in the 4th quarter worth approximately $219,000. Caitong International Asset Management Co. Ltd raised its position in HealthEquity by 2,476.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 438 shares of the company's stock worth $40,000 after buying an additional 421 shares during the last quarter. Finally, Pacer Advisors Inc. raised its position in HealthEquity by 16.9% during the 4th quarter. Pacer Advisors Inc. now owns 13,427 shares of the company's stock worth $1,230,000 after buying an additional 1,937 shares during the last quarter. 99.55% of the stock is owned by institutional investors and hedge funds.

About HealthEquity

HealthEquity, Inc NASDAQ: HQY is a leading administrator of consumer-directed health accounts and related benefit solutions in the United States. Founded in 2002 and headquartered in Draper, Utah, the company specializes in health savings accounts (HSAs) and offers complementary services such as flexible spending accounts (FSAs), health reimbursement arrangements (HRAs), COBRA administration and commuter benefits. Through its technology-driven platform, HealthEquity enables employers, health plans and individuals to streamline account management, improve cost transparency and encourage more informed healthcare spending.

Serving millions of members across all 50 states, HealthEquity leverages an open-architecture ecosystem that integrates with health plans, payroll providers and financial institutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.