Raymond James Financial Services Advisors Inc. Cuts Stake in HealthEquity, Inc. (NASDAQ:HQY)

Raymond James Financial Services Advisors Inc. lowered its position in shares of HealthEquity, Inc. (NASDAQ:HQY – Get Rating) by 22.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,405 shares of the company’s stock after selling 13,080 shares during the period. Raymond James Financial Services Advisors Inc. owned about 0.05% of HealthEquity worth $2,860,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its stake in HealthEquity by 4.0% during the 1st quarter. BlackRock Inc. now owns 9,423,008 shares of the company’s stock valued at $635,488,000 after purchasing an additional 358,743 shares in the last quarter. Vanguard Group Inc. increased its stake in HealthEquity by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 8,173,889 shares of the company’s stock valued at $549,041,000 after purchasing an additional 31,009 shares in the last quarter. Wasatch Advisors Inc. increased its stake in HealthEquity by 3.3% during the 1st quarter. Wasatch Advisors Inc. now owns 7,638,935 shares of the company’s stock valued at $515,170,000 after purchasing an additional 244,868 shares in the last quarter. State Street Corp increased its stake in HealthEquity by 2.8% during the 3rd quarter. State Street Corp now owns 2,671,946 shares of the company’s stock valued at $179,475,000 after purchasing an additional 74,035 shares in the last quarter. Finally, Brown Advisory Inc. boosted its holdings in shares of HealthEquity by 12.7% during the 3rd quarter. Brown Advisory Inc. now owns 2,059,396 shares of the company’s stock valued at $138,330,000 after acquiring an additional 232,691 shares during the last quarter. Hedge funds and other institutional investors own 99.54% of the company’s stock.

HealthEquity Trading Up 3.0 %

HealthEquity stock opened at $58.49 on Tuesday. The stock has a market cap of $5.00 billion, a P/E ratio of -188.67, a PEG ratio of 2.64 and a beta of 0.79. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.92 and a quick ratio of 2.92. HealthEquity, Inc. has a 1 year low of $48.86 and a 1 year high of $79.20. The firm’s 50 day moving average price is $56.28 and its 200-day moving average price is $60.43.

HealthEquity (NASDAQ:HQY – Get Rating) last announced its quarterly earnings results on Tuesday, March 21st. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.06. HealthEquity had a negative net margin of 3.03% and a positive return on equity of 3.50%. The company had revenue of $233.84 million for the quarter, compared to analysts’ expectations of $229.43 million. On average, equities analysts predict that HealthEquity, Inc. will post 1.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $75.00 price target on shares of HealthEquity in a report on Wednesday, March 22nd. StockNews.com started coverage on shares of HealthEquity in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of HealthEquity from $72.00 to $69.00 and set a “buy” rating on the stock in a report on Friday, March 24th. Finally, Wells Fargo & Company dropped their price objective on shares of HealthEquity from $101.00 to $89.00 and set an “overweight” rating on the stock in a report on Friday, February 3rd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $80.91.

About HealthEquity

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HealthEquity, Inc engages in the provision of technology-enabled services for healthcare and spending decisions. The company was founded by Stephen D. Neeleman on September 18, 2002 and is headquartered in Draper, UT.