Healthequity (NASDAQ:HQY) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Thursday.
Several other analysts have also recently commented on HQY. Chardan Capital upped their target price on Healthequity from $58.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday. Cantor Fitzgerald reiterated a “buy” rating and issued a $56.00 target price on shares of Healthequity in a report on Tuesday. Robert W. Baird reiterated a “hold” rating on shares of Healthequity in a report on Thursday, September 21st. Oppenheimer restated a “buy” rating and set a $61.00 price target on shares of Healthequity in a report on Wednesday, September 6th. Finally, Zacks Investment Research cut Healthequity from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $58.33.
Healthequity (NASDAQ HQY) traded up $1.87 during trading on Thursday, hitting $47.88. The stock had a trading volume of 1,084,708 shares, compared to its average volume of 529,745. Healthequity has a one year low of $37.62 and a one year high of $55.31. The firm has a market capitalization of $2,933.10, a P/E ratio of 69.27, a P/E/G ratio of 2.13 and a beta of 1.74.
In related news, insider Stephen Neeleman sold 8,500 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $45.24, for a total value of $384,540.00. Following the transaction, the insider now directly owns 1,000 shares in the company, valued at approximately $45,240. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Frank Medici sold 316,644 shares of the stock in a transaction on Monday, October 9th. The stock was sold at an average price of $51.96, for a total value of $16,452,822.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,743,212 shares of company stock worth $91,145,351. 29.00% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HQY. Zions Bancorporation purchased a new stake in Healthequity in the 3rd quarter valued at $119,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Healthequity by 105.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,544 shares of the company’s stock valued at $127,000 after purchasing an additional 1,308 shares during the last quarter. Riverhead Capital Management LLC increased its position in shares of Healthequity by 75.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,629 shares of the company’s stock valued at $131,000 after purchasing an additional 1,129 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Healthequity by 7.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,686 shares of the company’s stock valued at $134,000 after purchasing an additional 191 shares during the last quarter. Finally, Fortaleza Asset Management Inc. purchased a new stake in shares of Healthequity during the 2nd quarter valued at $138,000. 98.60% of the stock is owned by institutional investors and hedge funds.
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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