Healthequity (HQY) Research Coverage Started at Citigroup

Citigroup assumed coverage on shares of Healthequity (NASDAQ:HQY) in a research note issued to investors on Thursday morning, The Fly reports. The brokerage issued a buy rating on the stock.

Other analysts have also issued research reports about the company. Chardan Capital lifted their price objective on Healthequity from $58.00 to $62.00 and gave the stock a buy rating in a report on Wednesday, December 6th. Zacks Investment Research raised Healthequity from a hold rating to a buy rating and set a $60.00 price objective on the stock in a report on Wednesday, November 8th. BidaskClub raised Healthequity from a sell rating to a hold rating in a report on Tuesday, November 7th. Oppenheimer reissued a buy rating and set a $61.00 price objective on shares of Healthequity in a report on Wednesday, September 6th. Finally, Cantor Fitzgerald reissued a buy rating and set a $56.00 price objective on shares of Healthequity in a report on Monday, September 25th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $58.33.

Healthequity (HQY) traded up $0.42 on Thursday, reaching $48.44. The company’s stock had a trading volume of 427,877 shares, compared to its average volume of 568,084. Healthequity has a 12-month low of $37.62 and a 12-month high of $55.31. The firm has a market cap of $2,940.00, a price-to-earnings ratio of 65.46, a P/E/G ratio of 2.00 and a beta of 1.74.

Healthequity (NASDAQ:HQY) last announced its quarterly earnings data on Tuesday, December 5th. The company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.04. Healthequity had a return on equity of 14.47% and a net margin of 21.08%. The company had revenue of $56.80 million for the quarter, compared to analyst estimates of $55.27 million. During the same quarter last year, the firm earned $0.10 EPS. Healthequity’s revenue for the quarter was up 31.0% compared to the same quarter last year. sell-side analysts forecast that Healthequity will post 0.71 earnings per share for the current fiscal year.

In related news, EVP Delano Ladd sold 26,405 shares of the business’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $43.32, for a total value of $1,143,864.60. Following the sale, the executive vice president now owns 16,692 shares of the company’s stock, valued at approximately $723,097.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Ashley Dreier sold 10,000 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $50.97, for a total value of $509,700.00. Following the completion of the sale, the vice president now directly owns 15,652 shares in the company, valued at approximately $797,782.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,445,573 shares of company stock worth $75,519,359. 29.00% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in HQY. Russell Investments Group Ltd. bought a new position in Healthequity in the 2nd quarter valued at $1,362,000. Sei Investments Co. raised its position in Healthequity by 48.5% in the 2nd quarter. Sei Investments Co. now owns 4,077 shares of the company’s stock valued at $204,000 after purchasing an additional 1,331 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Healthequity by 9.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 198,316 shares of the company’s stock valued at $9,883,000 after purchasing an additional 17,842 shares during the last quarter. SG Americas Securities LLC bought a new position in Healthequity in the 2nd quarter valued at $358,000. Finally, Legal & General Group Plc raised its position in Healthequity by 12.7% in the 2nd quarter. Legal & General Group Plc now owns 87,541 shares of the company’s stock valued at $4,360,000 after purchasing an additional 9,858 shares during the last quarter. 98.27% of the stock is currently owned by institutional investors and hedge funds.

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Healthequity Company Profile

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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