HealthEquity (NASDAQ:HQY) Upgraded to “Outperform” at BMO Capital Markets

BMO Capital Markets upgraded shares of HealthEquity (NASDAQ:HQY) from a market perform rating to an outperform rating in a research report released on Thursday, MarketBeat Ratings reports. They currently have $105.00 target price on the stock, up from their prior target price of $85.00.

A number of other research analysts have also recently commented on HQY. BTIG Research decreased their price target on HealthEquity from $130.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. Barrington Research decreased their price target on HealthEquity from $125.00 to $110.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 18th. UBS Group set a $110.00 price target on HealthEquity in a research note on Tuesday, February 17th. Raymond James Financial set a $100.00 price target on HealthEquity in a research note on Tuesday, February 17th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of HealthEquity in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.79.

HealthEquity Stock Up 2.7%

NASDAQ:HQY opened at $84.20 on Thursday. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.45. The stock’s fifty day moving average is $79.82 and its two-hundred day moving average is $89.10. HealthEquity has a 52 week low of $72.76 and a 52 week high of $116.65. The stock has a market capitalization of $7.11 billion, a price-to-earnings ratio of 34.23, a price-to-earnings-growth ratio of 1.49 and a beta of 0.26.

HealthEquity (NASDAQ:HQY) last released its quarterly earnings results on Tuesday, March 17th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. HealthEquity had a return on equity of 13.86% and a net margin of 16.39%.The company had revenue of $334.59 million for the quarter, compared to analysts’ expectations of $332.48 million. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. Research analysts anticipate that HealthEquity will post 2.32 EPS for the current year.

Institutional Trading of HealthEquity

Several hedge funds have recently modified their holdings of the stock. Xponance Inc. raised its stake in shares of HealthEquity by 0.8% in the third quarter. Xponance Inc. now owns 12,265 shares of the company’s stock valued at $1,162,000 after acquiring an additional 102 shares in the last quarter. Truist Financial Corp raised its stake in HealthEquity by 4.9% in the fourth quarter. Truist Financial Corp now owns 2,537 shares of the company’s stock valued at $232,000 after buying an additional 119 shares in the last quarter. Fiduciary Trust Co raised its stake in HealthEquity by 3.4% in the third quarter. Fiduciary Trust Co now owns 3,669 shares of the company’s stock valued at $348,000 after buying an additional 120 shares in the last quarter. Larson Financial Group LLC raised its stake in HealthEquity by 24.4% in the third quarter. Larson Financial Group LLC now owns 628 shares of the company’s stock valued at $60,000 after buying an additional 123 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in HealthEquity by 59.3% in the third quarter. Farther Finance Advisors LLC now owns 392 shares of the company’s stock valued at $37,000 after buying an additional 146 shares in the last quarter. 99.55% of the stock is currently owned by institutional investors and hedge funds.

HealthEquity Company Profile

HealthEquity, Inc (NASDAQ: HQY) is a leading administrator of consumer-directed health accounts and related benefit solutions in the United States. Founded in 2002 and headquartered in Draper, Utah, the company specializes in health savings accounts (HSAs) and offers complementary services such as flexible spending accounts (FSAs), health reimbursement arrangements (HRAs), COBRA administration and commuter benefits. Through its technology-driven platform, HealthEquity enables employers, health plans and individuals to streamline account management, improve cost transparency and encourage more informed healthcare spending.

Serving millions of members across all 50 states, HealthEquity leverages an open-architecture ecosystem that integrates with health plans, payroll providers and financial institutions.