HealthEquity (NASDAQ:HQY) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of HealthEquity (NASDAQ:HQY - Free Report) from a hold rating to a buy rating in a research note released on Friday.

A number of other equities research analysts have also weighed in on HQY. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of HealthEquity from $98.00 to $115.00 and gave the company a "buy" rating in a report on Thursday. Royal Bank of Canada lifted their target price on HealthEquity from $112.00 to $117.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Raymond James raised HealthEquity from an "outperform" rating to a "strong-buy" rating and decreased their target price for the company from $120.00 to $115.00 in a research report on Tuesday, March 25th. Wells Fargo & Company lifted their target price on HealthEquity from $110.00 to $125.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Finally, Barrington Research lifted their target price on HealthEquity from $112.00 to $125.00 and gave the company an "outperform" rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $118.09.

HealthEquity Trading Down 0.3%

Shares of HQY stock traded down $0.39 on Friday, reaching $111.16. 887,385 shares of the company's stock were exchanged, compared to its average volume of 830,254. HealthEquity has a 52 week low of $65.01 and a 52 week high of $116.65. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $9.61 billion, a PE ratio of 101.98, a P/E/G ratio of 1.60 and a beta of 0.49. The company's fifty day simple moving average is $91.93 and its 200 day simple moving average is $97.77.

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, beating analysts' consensus estimates of $0.81 by $0.16. HealthEquity had a net margin of 8.41% and a return on equity of 9.70%. The company had revenue of $330.80 million during the quarter, compared to analyst estimates of $322.25 million. During the same quarter last year, the business posted $0.80 EPS. As a group, analysts forecast that HealthEquity will post 2.32 EPS for the current year.

Insider Transactions at HealthEquity

In related news, Director Robert W. Selander sold 5,750 shares of the company's stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $77.65, for a total transaction of $446,487.50. Following the transaction, the director now directly owns 84,969 shares of the company's stock, valued at $6,597,842.85. This represents a 6.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Michael Henry Fiore sold 8,881 shares of the company's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $78.26, for a total value of $695,027.06. Following the transaction, the executive vice president now directly owns 56,655 shares in the company, valued at $4,433,820.30. This represents a 13.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Inspire Investing LLC increased its stake in HealthEquity by 8.6% during the 1st quarter. Inspire Investing LLC now owns 7,529 shares of the company's stock valued at $665,000 after purchasing an additional 597 shares in the last quarter. Hodges Capital Management Inc. acquired a new position in HealthEquity during the 1st quarter valued at approximately $1,988,000. Strs Ohio acquired a new position in HealthEquity during the 1st quarter valued at approximately $999,000. Mattson Financial Services LLC increased its stake in HealthEquity by 15.5% during the 1st quarter. Mattson Financial Services LLC now owns 1,988 shares of the company's stock valued at $176,000 after purchasing an additional 267 shares in the last quarter. Finally, Belpointe Asset Management LLC acquired a new position in HealthEquity during the 1st quarter valued at approximately $756,000. Institutional investors and hedge funds 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.