Healthequity (HQY) Stock Price Down 5.1%

Healthequity Inc (NASDAQ:HQY)’s share price was down 5.1% on Tuesday . The company traded as low as $48.50 and last traded at $48.86. Approximately 510,600 shares changed hands during trading, a decline of 2% from the average daily volume of 522,763 shares. The stock had previously closed at $51.46.

A number of brokerages recently commented on HQY. BidaskClub cut Healthequity from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $56.00 price target on shares of Healthequity in a research report on Tuesday, August 29th. Oppenheimer reaffirmed a “buy” rating and issued a $61.00 price target on shares of Healthequity in a research report on Wednesday, September 6th. Robert W. Baird reaffirmed a “hold” rating on shares of Healthequity in a research report on Thursday, September 21st. Finally, Zacks Investment Research raised Healthequity from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Wednesday, October 11th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Healthequity has an average rating of “Buy” and an average price target of $58.33.

The stock has a market cap of $2,933.10, a PE ratio of 69.27, a P/E/G ratio of 2.13 and a beta of 1.74.

Healthequity (NASDAQ:HQY) last released its quarterly earnings results on Tuesday, December 5th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.13 by $0.04. The company had revenue of $56.80 million for the quarter, compared to analyst estimates of $55.27 million. Healthequity had a return on equity of 15.03% and a net margin of 21.08%. The firm’s revenue was up 31.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 earnings per share. equities research analysts forecast that Healthequity Inc will post 0.7 earnings per share for the current fiscal year.

In other Healthequity news, insider Stephen Neeleman sold 8,500 shares of Healthequity stock in a transaction that occurred 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 Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank Medici sold 700 shares of Healthequity stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $51.05, for a total value of $35,735.00. Following the completion of the transaction, the director now owns 6,381 shares in the company, valued at $325,750.05. The disclosure for this sale can be found here. Insiders sold a total of 1,743,212 shares of company stock worth $91,145,351 over the last quarter. Company insiders own 29.00% of the company’s stock.

Several institutional investors have recently bought and sold shares of HQY. Alps Advisors Inc. boosted its position in Healthequity by 0.3% during the second quarter. Alps Advisors Inc. now owns 10,729 shares of the company’s stock worth $535,000 after purchasing an additional 28 shares in the last quarter. Albion Financial Group UT boosted its position in Healthequity by 1.4% during the second quarter. Albion Financial Group UT now owns 8,694 shares of the company’s stock worth $433,000 after purchasing an additional 120 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in Healthequity by 7.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,686 shares of the company’s stock worth $134,000 after purchasing an additional 191 shares in the last quarter. Arizona State Retirement System boosted its position in Healthequity by 0.9% during the second quarter. Arizona State Retirement System now owns 23,097 shares of the company’s stock worth $1,151,000 after purchasing an additional 200 shares in the last quarter. Finally, Suntrust Banks Inc. boosted its position in Healthequity by 2.7% during the second quarter. Suntrust Banks Inc. now owns 9,408 shares of the company’s stock worth $468,000 after purchasing an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 98.60% of the company’s stock.

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About Healthequity

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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