HealthEquity, Inc. (NASDAQ:HQY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.
According to Zacks, “HealthEquity, Inc. is a technology-enabled services platforms that empower consumers to make healthcare saving and spending decisions. The Company’s platform provides an ecosystem where consumers can access their tax-advantaged healthcare savings, compare treatment options and pricing, evaluate and pay healthcare bills, receive personalized benefit and clinical information, earn wellness incentives, and make educated investment choices to grow their tax-advantaged healthcare savings. HealthEquity, Inc. is headquartered in Draper, Utah. “
A number of other analysts also recently issued reports on the company. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $56.00 target price on shares of HealthEquity in a research note on Tuesday, August 29th. BidaskClub downgraded HealthEquity from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $61.00 target price on shares of HealthEquity in a research note on Wednesday, September 6th. Robert W. Baird reaffirmed a “hold” rating on shares of HealthEquity in a research note on Thursday, September 21st. Finally, TheStreet raised HealthEquity from a “c” rating to a “b” rating in a research note on Monday, July 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $57.17.
HealthEquity (NASDAQ HQY) traded up $0.29 during midday trading on Friday, reaching $50.81. The company had a trading volume of 323,045 shares, compared to its average volume of 308,457. HealthEquity has a 1 year low of $30.34 and a 1 year high of $54.95. The firm has a market cap of $3,073.45, a P/E ratio of 80.65, a P/E/G ratio of 2.23 and a beta of 1.77.
HealthEquity (NASDAQ:HQY) last posted its quarterly earnings data on Tuesday, September 5th. The company reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.13. HealthEquity had a return on equity of 13.93% and a net margin of 20.27%. The firm had revenue of $56.90 million during the quarter, compared to the consensus estimate of $55.66 million. During the same period in the prior year, the company earned $0.16 EPS. The firm’s revenue was up 28.7% compared to the same quarter last year. equities analysts predict that HealthEquity will post 0.7 EPS for the current fiscal year.
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In related news, insider Stephen Neeleman sold 8,500 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $46.65, for a total transaction of $396,525.00. Following the completion of the sale, the insider now directly owns 1,000 shares of the company’s stock, valued at approximately $46,650. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jon Soldan sold 25,000 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $40.68, for a total value of $1,017,000.00. Following the sale, the vice president now directly owns 30,652 shares of the company’s stock, valued at $1,246,923.36. The disclosure for this sale can be found here. Insiders sold a total of 733,083 shares of company stock valued at $37,471,827 over the last ninety days. Corporate insiders own 29.00% of the company’s stock.
Several large investors have recently modified their holdings of HQY. UBS Asset Management Americas Inc. increased its position in shares of HealthEquity by 103.6% during the 1st quarter. UBS Asset Management Americas Inc. now owns 22,798 shares of the company’s stock worth $968,000 after purchasing an additional 11,598 shares during the last quarter. Wellington Management Group LLP boosted its holdings in HealthEquity by 16.1% during the 1st quarter. Wellington Management Group LLP now owns 115,982 shares of the company’s stock valued at $4,924,000 after acquiring an additional 16,123 shares during the period. Teachers Advisors LLC boosted its holdings in HealthEquity by 6.0% during the 1st quarter. Teachers Advisors LLC now owns 79,893 shares of the company’s stock valued at $3,391,000 after acquiring an additional 4,542 shares during the period. TIAA CREF Investment Management LLC boosted its holdings in HealthEquity by 14.1% during the 1st quarter. TIAA CREF Investment Management LLC now owns 142,960 shares of the company’s stock valued at $6,069,000 after acquiring an additional 17,639 shares during the period. Finally, California Public Employees Retirement System purchased a new position in HealthEquity during the 1st quarter valued at about $3,829,000. 91.18% of the stock is owned by hedge funds and other institutional investors.
HealthEquity, Inc provides a range of solutions for managing healthcare accounts (Health Savings Accounts (HSAs), Health Reimbursement Arrangements (HRAs) and Flexible Spending Accounts (FSAs)) for health plans, insurance companies and third-party administrators. The Company is engaged in technology-enabled services platforms that allow consumers to make healthcare saving and spending decisions.
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