Royal Bank of Canada Forecasts Strong Price Appreciation for HealthEquity (NASDAQ:HQY) Stock

HealthEquity (NASDAQ:HQY - Free Report) had its price target increased by Royal Bank of Canada from $112.00 to $117.00 in a research note released on Wednesday, Marketbeat reports. They currently have an outperform rating on the stock.

Several other research firms have also recently issued reports on HQY. The Goldman Sachs Group lowered their target price on shares of HealthEquity from $107.00 to $94.00 and set a "neutral" rating on the stock in a research note on Thursday, March 27th. Bank of America upped their target price on shares of HealthEquity from $110.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday. KeyCorp lowered their target price 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. Raymond James upgraded shares of HealthEquity from an "outperform" rating to a "strong-buy" rating and lowered their target price for the company from $120.00 to $115.00 in a research note on Tuesday, March 25th. Finally, Barrington Research restated an "outperform" rating and set a $112.00 target price on shares of HealthEquity in a research note on Friday, April 11th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $118.09.

HealthEquity Stock Down 0.3%

HealthEquity stock traded down $0.36 during mid-day trading on Wednesday, reaching $112.70. The stock had a trading volume of 1,948,931 shares, compared to its average volume of 823,847. The company has a market capitalization of $9.75 billion, a price-to-earnings ratio of 103.39, a PEG ratio of 1.60 and a beta of 0.45. The company has a 50-day moving average price of $90.51 and a two-hundred day moving average price of $97.67. HealthEquity has a one year low of $65.01 and a one year high of $116.69. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.20 and a quick ratio of 3.20.

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, beating the consensus estimate of $0.81 by $0.16. The business had revenue of $330.80 million for the quarter, compared to analysts' expectations of $322.25 million. HealthEquity had a net margin of 8.41% and a return on equity of 9.70%. During the same quarter in the prior year, the business earned $0.80 EPS. On average, analysts expect that HealthEquity will post 2.32 EPS for the current fiscal year.

Insider Transactions at HealthEquity

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

Institutional Investors Weigh In On HealthEquity

Institutional investors have recently added to or reduced their stakes in the stock. Arcadia Investment Management Corp MI purchased a new stake in HealthEquity during the 4th quarter valued at approximately $26,000. Versant Capital Management Inc purchased a new stake in HealthEquity during the 1st quarter valued at approximately $28,000. WPG Advisers LLC purchased a new stake in HealthEquity during the 1st quarter valued at approximately $28,000. Transce3nd LLC purchased a new stake in HealthEquity during the 4th quarter valued at approximately $29,000. Finally, Smartleaf Asset Management LLC grew its holdings in HealthEquity by 34.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 384 shares of the company's stock valued at $37,000 after buying an additional 98 shares in the last quarter. 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.