HealthEquity (NASDAQ:HQY) Shares Gap Up Following Analyst Upgrade

Shares of HealthEquity, Inc. (NASDAQ:HQY) gapped up prior to trading on Wednesday after Jefferies Financial Group raised their price target on the stock from $130.00 to $134.00. The stock had previously closed at $88.85, but opened at $93.50. Jefferies Financial Group currently has a buy rating on the stock. HealthEquity shares last traded at $95.29, with a volume of 465,331 shares.

A number of other equities analysts have also commented on the stock. JMP Securities boosted their price objective on shares of HealthEquity from $110.00 to $117.00 and gave the stock a “market outperform” rating in a report on Wednesday, June 4th. JPMorgan Chase & Co. boosted their price objective on shares of HealthEquity from $125.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday. Bank of America boosted their price objective on shares of HealthEquity from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. Royal Bank Of Canada boosted their price objective on shares of HealthEquity from $109.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $120.00 price objective (up previously from $115.00) on shares of HealthEquity in a report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $119.77.

Insider Activity

In related news, EVP Elimelech Rosner sold 58,000 shares of the business’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $112.56, for a total transaction of $6,528,480.00. Following the completion of the sale, the executive vice president owned 75,689 shares of the company’s stock, valued at $8,519,553.84. This represents a 43.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jon Kessler sold 97,767 shares of the business’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $112.05, for a total transaction of $10,954,792.35. Following the sale, the director directly owned 75,000 shares of the company’s stock, valued at approximately $8,403,750. This represents a 56.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 291,744 shares of company stock worth $32,705,007. 1.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On HealthEquity

A number of institutional investors have recently modified their holdings of HQY. Invesco Ltd. grew its position in shares of HealthEquity by 50.6% during the 1st quarter. Invesco Ltd. now owns 2,446,198 shares of the company’s stock valued at $216,171,000 after buying an additional 821,425 shares during the last quarter. Norges Bank bought a new stake in shares of HealthEquity during the 2nd quarter valued at about $75,072,000. Westfield Capital Management Co. LP grew its position in shares of HealthEquity by 124.6% during the 2nd quarter. Westfield Capital Management Co. LP now owns 1,265,208 shares of the company’s stock valued at $132,543,000 after buying an additional 701,819 shares during the last quarter. AQR Capital Management LLC grew its position in shares of HealthEquity by 148.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,107,448 shares of the company’s stock valued at $116,016,000 after buying an additional 661,795 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of HealthEquity during the 1st quarter valued at about $53,076,000. Institutional investors own 99.55% of the company’s stock.

HealthEquity Trading Up 7.5%

The company has a current ratio of 4.06, a quick ratio of 4.06 and a debt-to-equity ratio of 0.50. The business’s 50-day moving average is $94.78 and its two-hundred day moving average is $95.36. The firm has a market cap of $8.26 billion, a P/E ratio of 69.74, a P/E/G ratio of 1.38 and a beta of 0.50.

HealthEquity (NASDAQ:HQY) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.16. HealthEquity had a net margin of 9.80% and a return on equity of 11.01%. The business had revenue of $330.80 million during the quarter, compared to the consensus estimate of $322.25 million. During the same quarter in the prior year, the firm earned $0.80 EPS. As a group, analysts expect that HealthEquity, Inc. will post 2.32 earnings per share for the current fiscal year.

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.