Chardan Capital Reiterates Buy Rating for Healthequity Inc (HQY)

Chardan Capital reiterated their buy rating on shares of Healthequity Inc (NASDAQ:HQY) in a research note published on Wednesday. The brokerage currently has a $53.00 target price on the stock, up from their prior target price of $50.00.

HQY has been the topic of a number of other reports. Zacks Investment Research upgraded Healthequity from a sell rating to a hold rating in a research note on Saturday, March 4th. CIBC started coverage on Healthequity in a research note on Tuesday, March 14th. They issued an outperform rating on the stock. FIX started coverage on Healthequity in a research note on Tuesday, March 14th. They issued an outperform rating on the stock. Wells Fargo & Co started coverage on Healthequity in a research note on Tuesday, March 14th. They issued an outperform rating on the stock. Finally, Oppenheimer Holdings Inc. started coverage on Healthequity in a research note on Monday, March 13th. They issued an outperform rating and a $58.00 target price on the stock. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $44.70.

Analyst Recommendations for Healthequity (NASDAQ:HQY)

Shares of Healthequity (NASDAQ:HQY) opened at 41.28 on Wednesday. The firm has a market capitalization of $2.46 billion, a PE ratio of 93.82 and a beta of 1.94. Healthequity has a 52 week low of $22.26 and a 52 week high of $49.25. The company has a 50-day moving average of $43.52 and a 200-day moving average of $40.78.

Healthequity (NASDAQ:HQY) last released its quarterly earnings data on Tuesday, March 21st. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The firm earned $46.83 million during the quarter, compared to the consensus estimate of $45.55 million. Healthequity had a net margin of 15.19% and a return on equity of 11.08%. The firm’s revenue was up 30.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.07 earnings per share. On average, equities analysts forecast that Healthequity will post $0.57 earnings per share for the current fiscal year.

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In related news, VP Ashley Dreier sold 5,000 shares of Healthequity stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $45.80, for a total transaction of $229,000.00. Following the sale, the vice president now directly owns 5,000 shares in the company, valued at $229,000. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen Neeleman sold 1,200 shares of Healthequity stock in a transaction dated Wednesday, March 22nd. The shares were sold at an average price of $46.18, for a total transaction of $55,416.00. The disclosure for this sale can be found here. Insiders sold 1,221,920 shares of company stock worth $56,457,573 over the last quarter. 29.00% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the stock. Municipal Employees Retirement System of Michigan boosted its stake in shares of Healthequity by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 7,840 shares of the company’s stock worth $297,000 after buying an additional 130 shares in the last quarter. Putnam Investments LLC boosted its stake in shares of Healthequity by 1.3% in the fourth quarter. Putnam Investments LLC now owns 33,387 shares of the company’s stock worth $1,353,000 after buying an additional 437 shares in the last quarter. New York State Teachers Retirement System boosted its stake in shares of Healthequity by 1.6% in the fourth quarter. New York State Teachers Retirement System now owns 31,051 shares of the company’s stock worth $1,258,000 after buying an additional 500 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Healthequity by 2.8% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 22,039 shares of the company’s stock worth $893,000 after buying an additional 590 shares in the last quarter. Finally, HighTower Advisors LLC boosted its stake in shares of Healthequity by 0.4% in the third quarter. HighTower Advisors LLC now owns 170,799 shares of the company’s stock worth $6,465,000 after buying an additional 731 shares in the last quarter. Institutional investors and hedge funds own 89.22% of the company’s stock.

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.

5 Day Chart for NASDAQ:HQY

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