Healthequity (NASDAQ:HQY) Lifted to Strong-Buy at Raymond James

Raymond James upgraded shares of Healthequity (NASDAQ:HQY) from an outperform rating to a strong-buy rating in a report released on Monday morning, BenzingaRatingsTable reports. Raymond James currently has $80.00 target price on the stock, down from their prior target price of $90.00.

Other equities research analysts also recently issued reports about the stock. TheStreet downgraded shares of Healthequity from a b rating to a c+ rating in a research note on Tuesday, September 3rd. Barrington Research restated an outperform rating and issued a $75.00 target price (down from $100.00) on shares of Healthequity in a research note on Wednesday, September 4th. BidaskClub downgraded shares of Healthequity from a hold rating to a sell rating in a research note on Saturday, September 7th. Citigroup restated a buy rating on shares of Healthequity in a research note on Friday, June 28th. Finally, Oppenheimer lowered their price objective on shares of Healthequity from $98.00 to $76.00 and set an outperform rating for the company in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and an average price target of $81.00.

Shares of HQY opened at $58.61 on Monday. The company has a market cap of $3.76 billion, a price-to-earnings ratio of 61.69, a price-to-earnings-growth ratio of 3.13 and a beta of 1.55. Healthequity has a twelve month low of $50.29 and a twelve month high of $101.58. The company has a quick ratio of 15.59, a current ratio of 22.98 and a debt-to-equity ratio of 0.04. The company has a 50 day moving average of $67.10 and a two-hundred day moving average of $70.62.

Healthequity (NASDAQ:HQY) last announced its earnings results on Tuesday, September 3rd. The company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.10. The company had revenue of $86.60 million during the quarter, compared to the consensus estimate of $85.33 million. Healthequity had a net margin of 28.13% and a return on equity of 11.77%. Healthequity’s revenue was up 21.8% compared to the same quarter last year. During the same period last year, the firm earned $0.36 earnings per share. On average, sell-side analysts expect that Healthequity will post 0.93 EPS for the current year.

In other Healthequity news, CEO Jon Kessler bought 10,000 shares of Healthequity stock in a transaction that occurred on Friday, July 12th. The stock was purchased at an average price of $61.00 per share, with a total value of $610,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 442,410 shares in the company, valued at approximately $26,987,010. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Darcy G. Mott sold 4,000 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $71.69, for a total transaction of $286,760.00. Following the transaction, the chief financial officer now directly owns 58,000 shares of the company’s stock, valued at approximately $4,158,020. The disclosure for this sale can be found here. Insiders have sold 37,899 shares of company stock valued at $2,751,451 over the last quarter. Insiders own 3.70% of the company’s stock.

Several institutional investors have recently modified their holdings of HQY. BlackRock Inc. increased its holdings in Healthequity by 13.1% in the second quarter. BlackRock Inc. now owns 7,268,685 shares of the company’s stock valued at $475,373,000 after buying an additional 840,177 shares in the last quarter. Vanguard Group Inc. increased its holdings in Healthequity by 2.5% in the second quarter. Vanguard Group Inc. now owns 5,646,295 shares of the company’s stock valued at $369,268,000 after buying an additional 138,020 shares in the last quarter. Invesco Ltd. increased its holdings in Healthequity by 13.7% in the second quarter. Invesco Ltd. now owns 2,140,851 shares of the company’s stock valued at $140,012,000 after buying an additional 258,769 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Healthequity by 13.9% in the second quarter. Janus Henderson Group PLC now owns 2,057,831 shares of the company’s stock valued at $134,582,000 after buying an additional 250,692 shares in the last quarter. Finally, Wasatch Advisors Inc. increased its holdings in Healthequity by 22.6% in the first quarter. Wasatch Advisors Inc. now owns 2,038,929 shares of the company’s stock valued at $150,840,000 after buying an additional 376,461 shares in the last quarter. 94.77% of the stock is owned by hedge funds and other institutional investors.

Healthequity Company Profile

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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