HealthEquity (NASDAQ:HQY) Price Target Raised to $77.00 at Royal Bank of Canada

HealthEquity (NASDAQ:HQY) had its target price increased by Royal Bank of Canada from $75.00 to $77.00 in a research report released on Wednesday morning, Marketbeat reports. The brokerage currently has an outperform rating on the stock.

A number of other brokerages have also recently weighed in on HQY. Deutsche Bank Aktiengesellschaft upped their price objective on shares of HealthEquity from $69.00 to $71.00 in a report on Wednesday, June 7th. StockNews.com assumed coverage on shares of HealthEquity in a report on Thursday, August 17th. They issued a hold rating on the stock. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $82.80.

HealthEquity Stock Performance

Shares of NASDAQ:HQY opened at $69.35 on Wednesday. HealthEquity has a 12 month low of $48.86 and a 12 month high of $79.20. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $65.95 and a 200-day moving average price of $61.41. The company has a market cap of $5.93 billion, a price-to-earnings ratio of -693.50, a price-to-earnings-growth ratio of 2.53 and a beta of 0.79.

HealthEquity (NASDAQ:HQY) last announced its quarterly earnings results on Monday, June 5th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.09. HealthEquity had a negative net margin of 0.93% and a positive return on equity of 4.30%. The company had revenue of $244.43 million for the quarter, compared to analysts’ expectations of $239.85 million. As a group, equities analysts anticipate that HealthEquity will post 1.2 EPS for the current year.

Insider Transactions at HealthEquity

In related news, EVP Elimelech Rosner sold 10,156 shares of the firm’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $64.29, for a total transaction of $652,929.24. Following the completion of the transaction, the executive vice president now directly owns 70,334 shares of the company’s stock, valued at $4,521,772.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Jon Kessler sold 19,588 shares of the firm’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $60.12, for a total transaction of $1,177,630.56. Following the completion of the transaction, the chief executive officer now directly owns 6,129 shares of the company’s stock, valued at $368,475.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Elimelech Rosner sold 10,156 shares of the firm’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $64.29, for a total transaction of $652,929.24. Following the transaction, the executive vice president now directly owns 70,334 shares of the company’s stock, valued at $4,521,772.86. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On HealthEquity

Several institutional investors have recently bought and sold shares of HQY. BlackRock Inc. lifted its holdings in shares of HealthEquity by 0.6% in the 2nd quarter. BlackRock Inc. now owns 10,346,280 shares of the company’s stock worth $653,264,000 after acquiring an additional 58,684 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of HealthEquity by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 8,173,889 shares of the company’s stock worth $549,041,000 after acquiring an additional 31,009 shares during the last quarter. Wasatch Advisors LP lifted its holdings in shares of HealthEquity by 34.6% in the 1st quarter. Wasatch Advisors LP now owns 7,712,589 shares of the company’s stock worth $452,806,000 after acquiring an additional 1,980,668 shares during the last quarter. Wasatch Advisors Inc. lifted its holdings in shares of HealthEquity by 3.3% in the 1st quarter. Wasatch Advisors Inc. now owns 7,638,935 shares of the company’s stock worth $515,170,000 after acquiring an additional 244,868 shares during the last quarter. Finally, FMR LLC lifted its holdings in shares of HealthEquity by 4.7% in the 1st quarter. FMR LLC now owns 4,528,402 shares of the company’s stock worth $265,862,000 after acquiring an additional 204,378 shares during the last quarter. Institutional investors own 98.46% 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, compare treatment options and prices, receive personalized benefit and clinical information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts.