HealthEquity (NASDAQ:HQY) Shares Down 6.7%

HealthEquity, Inc. (NASDAQ:HQY – Get Rating) dropped 6.7% during mid-day trading on Friday . The company traded as low as $62.05 and last traded at $62.05. Approximately 373,574 shares traded hands during trading, a decline of 47% from the average daily volume of 702,639 shares. The stock had previously closed at $66.49.

Wall Street Analysts Forecast Growth

HQY has been the subject of a number of recent research reports. Royal Bank of Canada lifted their price target on shares of HealthEquity from $70.00 to $75.00 in a research report on Monday, December 5th. Guggenheim lifted their target price on shares of HealthEquity from $89.00 to $94.00 and gave the stock a “buy” rating in a report on Wednesday, December 7th. Robert W. Baird lifted their target price on shares of HealthEquity to $75.00 in a report on Monday, December 12th. Wells Fargo & Company decreased their target price on shares of HealthEquity from $101.00 to $89.00 and set an “overweight” rating for the company in a report on Friday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of HealthEquity from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Tuesday, January 24th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $80.62.

HealthEquity Price Performance

The business’s 50 day moving average price is $61.92 and its 200 day moving average price is $65.39. The stock has a market capitalization of $5.22 billion, a P/E ratio of -88.11, a price-to-earnings-growth ratio of 2.93 and a beta of 0.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.01 and a quick ratio of 3.01.

Insider Activity at HealthEquity

In related news, Director Gayle Furgurson Wellborn sold 5,237 shares of the business’s stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $62.00, for a total transaction of $324,694.00. Following the completion of the sale, the director now directly owns 12,023 shares in the company, valued at $745,426. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.80% of the stock is currently owned by company insiders.

Institutional Trading of HealthEquity

Large investors have recently added to or reduced their stakes in the business. Private Trust Co. NA bought a new stake in HealthEquity during the second quarter valued at approximately $28,000. Quadrant Capital Group LLC lifted its holdings in HealthEquity by 62.7% during the fourth quarter. Quadrant Capital Group LLC now owns 540 shares of the company’s stock valued at $33,000 after purchasing an additional 208 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in HealthEquity during the fourth quarter valued at approximately $65,000. Eagle Bay Advisors LLC lifted its holdings in HealthEquity by 137.8% during the second quarter. Eagle Bay Advisors LLC now owns 1,108 shares of the company’s stock valued at $68,000 after purchasing an additional 642 shares in the last quarter. Finally, Wipfli Financial Advisors LLC purchased a new position in HealthEquity during the third quarter valued at approximately $69,000. 99.54% of the stock is currently owned by institutional investors.

HealthEquity Company Profile

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HealthEquity, Inc provides range of solutions for managing health care accounts. The firm’s offers its solutions for employers, health plans, brokers, consultants and financial advisors. Its services include HAS, FSA, HRA, DCRA, 401(k), Commuter, COBRA and HIA. It also offers products like healthcare saving and spending platform, health savings accounts, investment advisory services, reimbursement arrangements, and healthcare incentives.