Healthequity (HQY) Rating Lowered to Buy at BidaskClub

Healthequity (NASDAQ:HQY) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Friday, BidAskClub reports.

HQY has been the subject of a number of other reports. Oppenheimer raised their price objective on Healthequity from $74.00 to $98.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Bank of America raised their price objective on Healthequity from $82.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. Cantor Fitzgerald raised their price objective on Healthequity from $83.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. KeyCorp raised their price objective on Healthequity from $74.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Finally, Zacks Investment Research cut Healthequity from a “hold” rating to a “sell” rating in a research report on Thursday, February 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the stock. Healthequity currently has an average rating of “Buy” and an average target price of $86.85.

Shares of NASDAQ HQY opened at $64.69 on Friday. Healthequity has a 52 week low of $50.29 and a 52 week high of $101.58. The company has a market cap of $4.04 billion, a P/E ratio of 68.09, a P/E/G ratio of 3.21 and a beta of 1.70.

Healthequity (NASDAQ:HQY) last issued its quarterly earnings results on Monday, March 18th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.15 by $0.06. Healthequity had a return on equity of 13.59% and a net margin of 25.73%. The firm had revenue of $75.78 million during the quarter, compared to analysts’ expectations of $74.28 million. During the same period in the prior year, the firm posted $0.09 earnings per share. The business’s quarterly revenue was up 25.4% compared to the same quarter last year. Equities analysts predict that Healthequity will post 0.94 EPS for the current fiscal year.

In other news, VP Darcy G. Mott sold 4,000 shares of the stock in a transaction that occurred on Tuesday, January 22nd. The stock was sold at an average price of $60.81, for a total transaction of $243,240.00. Following the transaction, the vice president now owns 79,200 shares in the company, valued at $4,816,152. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Delano Ladd sold 6,875 shares of the stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $78.00, for a total value of $536,250.00. Following the transaction, the executive vice president now owns 14,340 shares in the company, valued at approximately $1,118,520. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,875 shares of company stock worth $1,429,370. 4.00% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Deutsche Bank AG increased its stake in shares of Healthequity by 42.3% during the third quarter. Deutsche Bank AG now owns 295,652 shares of the company’s stock worth $27,910,000 after purchasing an additional 87,870 shares during the period. Bfsg LLC bought a new position in shares of Healthequity during the first quarter worth approximately $460,000. Bank of New York Mellon Corp increased its stake in shares of Healthequity by 24.2% during the third quarter. Bank of New York Mellon Corp now owns 872,322 shares of the company’s stock worth $82,357,000 after purchasing an additional 169,985 shares during the period. Legacy Financial Advisors Inc. bought a new position in Healthequity during the 4th quarter worth $28,000. Finally, Ashford Capital Management Inc. increased its stake in Healthequity by 2.3% during the 4th quarter. Ashford Capital Management Inc. now owns 146,089 shares of the company’s stock worth $8,714,000 after acquiring an additional 3,300 shares during the period. Institutional investors own 96.15% of the company’s stock.

About Healthequity

HealthEquity, Inc provides various solutions for managing health care accounts, health reimbursement arrangements, and flexible spending accounts for health plans, insurance companies, and third-party administrators in the United States. The company offers healthcare saving and spending platform, a cloud-based platform 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.

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Analyst Recommendations for Healthequity (NASDAQ:HQY)

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