HealthEquity's (HQY) Strong-Buy Rating Reaffirmed at Raymond James Financial

Raymond James Financial reissued their strong-buy rating on shares of HealthEquity (NASDAQ:HQY - Free Report) in a research report report published on Tuesday morning,Benzinga reports. Raymond James Financial currently has a $120.00 price objective on the stock, up from their previous price objective of $115.00.

Other equities research analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of HealthEquity from $98.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. Wall Street Zen raised shares of HealthEquity from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Barrington Research increased their price objective on shares of HealthEquity from $112.00 to $125.00 and gave the stock an "outperform" rating in a report on Thursday, June 5th. JMP Securities boosted their target price on shares of HealthEquity from $110.00 to $117.00 and gave the company a "market outperform" rating in a research note on Wednesday, June 4th. Finally, KeyCorp dropped their price target on shares of HealthEquity from $110.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $118.55.

HealthEquity Trading Down 3.8%

NASDAQ:HQY traded down $3.89 during trading hours on Tuesday, reaching $99.24. 490,952 shares of the stock were exchanged, compared to its average volume of 863,902. The company has a market capitalization of $8.58 billion, a price-to-earnings ratio of 72.43, a PEG ratio of 1.57 and a beta of 0.49. HealthEquity has a twelve month low of $65.01 and a twelve month high of $116.65. The business has a 50-day moving average of $100.43 and a two-hundred day moving average of $98.39. The company has a quick ratio of 4.06, a current ratio of 4.06 and a debt-to-equity ratio of 0.50.

HealthEquity (NASDAQ:HQY - Get Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.16. HealthEquity had a return on equity of 11.01% and a net margin of 9.80%. The company had revenue of $330.80 million during the quarter, compared to the consensus estimate of $322.25 million. During the same quarter in the prior year, the firm earned $0.80 EPS. On average, equities analysts predict that HealthEquity will post 2.32 EPS for the current year.

Insider Transactions at HealthEquity

In related news, Director Jon Kessler sold 97,767 shares of HealthEquity stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $112.05, for a total value of $10,954,792.35. Following the sale, the director directly owned 75,000 shares in the company, valued at $8,403,750. This trade represents a 56.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael Henry Fiore sold 1,794 shares of the business's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $101.73, for a total transaction of $182,503.62. Following the completion of the sale, the executive vice president owned 53,225 shares of the company's stock, valued at $5,414,579.25. The trade was a 3.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 291,744 shares of company stock worth $32,705,007 over the last 90 days. 1.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On HealthEquity

Several institutional investors have recently added to or reduced their stakes in HQY. Parallel Advisors LLC grew its holdings in HealthEquity by 22.4% in the second quarter. Parallel Advisors LLC now owns 1,447 shares of the company's stock valued at $152,000 after purchasing an additional 265 shares during the period. Voya Investment Management LLC grew its stake in shares of HealthEquity by 96.5% during the first quarter. Voya Investment Management LLC now owns 153,413 shares of the company's stock valued at $13,557,000 after acquiring an additional 75,341 shares in the last quarter. Inspire Investing LLC boosted its stake in HealthEquity by 8.6% in the first quarter. Inspire Investing LLC now owns 7,529 shares of the company's stock valued at $665,000 after acquiring an additional 597 shares during the period. Hodges Capital Management Inc. acquired a new position in HealthEquity in the first quarter worth approximately $1,988,000. Finally, Strs Ohio acquired a new position in HealthEquity during the 1st quarter worth $999,000. 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.