Raymond James Financial Reaffirms "Strong-Buy" Rating for HealthEquity (NASDAQ:HQY)

Raymond James Financial reaffirmed their strong-buy rating on shares of HealthEquity (NASDAQ:HQY - Free Report) in a research note issued to investors on Tuesday,Benzinga reports. Raymond James Financial currently has a $120.00 price target on the stock, up from their previous price target of $115.00.

HQY has been the topic of a number of other research reports. Wall Street Zen raised HealthEquity from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Bank of America increased their price target on HealthEquity from $110.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Barrington Research upped their target price on shares of HealthEquity from $112.00 to $125.00 and gave the stock an "outperform" rating in a research note on Thursday, June 5th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of HealthEquity from $98.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. Finally, KeyCorp reduced their price objective on shares of HealthEquity from $110.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, HealthEquity presently has a consensus rating of "Buy" and a consensus price target of $118.55.

HealthEquity Trading Down 2.8%

HQY traded down $2.79 on Tuesday, hitting $97.19. The company had a trading volume of 913,190 shares, compared to its average volume of 869,222. The company has a current ratio of 4.06, a quick ratio of 4.06 and a debt-to-equity ratio of 0.50. The firm has a market cap of $8.40 billion, a P/E ratio of 70.94, a PEG ratio of 1.54 and a beta of 0.49. The company's fifty day moving average price is $100.90 and its 200 day moving average price is $98.42. HealthEquity has a 1 year low of $65.01 and a 1 year high of $116.65.

HealthEquity (NASDAQ:HQY - Get Free Report) last posted its earnings results on Tuesday, June 3rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.16. The firm had revenue of $330.80 million for 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 in the prior year, the company earned $0.80 EPS. As a group, equities analysts expect that HealthEquity will post 2.32 earnings per share for the current year.

Insider Activity

In other HealthEquity news, EVP Michael Henry Fiore sold 1,794 shares of HealthEquity stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $101.73, for a total value of $182,503.62. Following the sale, the executive vice president owned 53,225 shares of the company's stock, valued at approximately $5,414,579.25. The trade was a 3.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jon Kessler sold 97,767 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $112.05, for a total value of $10,954,792.35. Following the transaction, the director directly owned 75,000 shares of the company's stock, valued at approximately $8,403,750. This trade represents a 56.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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 Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Ameritas Investment Partners Inc. increased its holdings in HealthEquity by 0.3% during the 4th 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 holdings in HealthEquity by 34.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 384 shares of the company's stock valued at $37,000 after acquiring an additional 98 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of HealthEquity by 0.6% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,286 shares of the company's stock worth $1,850,000 after purchasing an additional 106 shares during the period. Ieq Capital LLC boosted its holdings in shares of HealthEquity by 4.4% during the first quarter. Ieq Capital LLC now owns 2,945 shares of the company's stock worth $260,000 after purchasing an additional 123 shares during the last quarter. Finally, Hancock Whitney Corp grew its position in shares of HealthEquity by 1.0% in the fourth quarter. Hancock Whitney Corp now owns 13,326 shares of the company's stock valued at $1,279,000 after purchasing an additional 133 shares during the period. Institutional investors and hedge funds 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.