HealthEquity (NASDAQ:HQY) Earns "Strong-Buy" Rating from Raymond James Financial

Raymond James Financial restated their strong-buy rating on shares of HealthEquity (NASDAQ:HQY - Free Report) in a research report report published 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.

Other equities analysts also recently issued research reports about the company. Barrington Research upped their price objective on HealthEquity from $112.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, June 5th. Wall Street Zen upgraded HealthEquity from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. The Goldman Sachs Group increased their price objective on HealthEquity from $94.00 to $104.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Bank of America increased their target price on HealthEquity from $110.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Finally, Royal Bank Of Canada increased their target price on HealthEquity from $112.00 to $117.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $118.55.

HealthEquity Price Performance

Shares of HQY stock traded down $3.13 during trading hours on Tuesday, reaching $94.06. The company's stock had a trading volume of 512,503 shares, compared to its average volume of 868,279. 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 has a fifty-two week low of $65.01 and a fifty-two week high of $116.65. The company has a market capitalization of $8.13 billion, a price-to-earnings ratio of 68.60, a PEG ratio of 1.54 and a beta of 0.49. The firm's 50 day simple moving average is $100.90 and its 200-day simple moving average is $98.42.

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

Insiders Place Their Bets

In related news, EVP Michael Henry Fiore sold 1,794 shares of the business's stock in a transaction that occurred on 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 directly owned 53,225 shares in the company, valued at $5,414,579.25. The trade was a 3.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elimelech Rosner sold 58,000 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president owned 75,689 shares of the company's stock, valued at approximately $8,519,553.84. The trade was a 43.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 291,744 shares of company stock worth $32,705,007 over the last three months. Company insiders own 1.50% of the company's stock.

Hedge Funds Weigh In On HealthEquity

A number of hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its stake in HealthEquity by 24.7% during 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 last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in HealthEquity by 7,983.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,655 shares of the company's stock valued at $2,179,000 after buying an additional 24,350 shares during the last quarter. GAMMA Investing LLC raised its stake in HealthEquity by 25.9% during the 1st quarter. GAMMA Investing LLC now owns 1,571 shares of the company's stock valued at $139,000 after buying an additional 323 shares during the last quarter. Pier Capital LLC purchased a new stake in HealthEquity during the 4th quarter valued at $8,024,000. Finally, HighTower Advisors LLC raised its stake in HealthEquity by 4.8% during the 4th quarter. HighTower Advisors LLC now owns 95,075 shares of the company's stock valued at $9,122,000 after buying an additional 4,370 shares during the last quarter. 99.55% of the stock is currently owned by hedge funds and other institutional investors.

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.