Healthequity Inc (HQY) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Healthequity Inc (NASDAQ:HQY) have received an average rating of “Buy” from the fourteen brokerages that are currently covering the company. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $46.00.

A number of equities analysts have weighed in on the stock. Zacks Investment Research cut shares of Healthequity from a “hold” rating to a “sell” rating in a research report on Monday, December 12th. Chardan Capital reissued a “buy” rating and issued a $47.00 price objective on shares of Healthequity in a research report on Tuesday, February 7th. FIX assumed coverage on shares of Healthequity in a research report on Tuesday, March 14th. They issued an “outperform” rating for the company. Oppenheimer Holdings Inc. assumed coverage on shares of Healthequity in a research report on Monday, March 13th. They issued an “outperform” rating and a $58.00 price objective for the company. Finally, KeyCorp assumed coverage on shares of Healthequity in a research report on Monday, January 23rd. They issued an “overweight” rating and a $60.00 price objective for the company.

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Shares of Healthequity (NASDAQ:HQY) traded down 0.37% during trading on Monday, reaching $40.25. The company had a trading volume of 716,868 shares. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 91.48 and a beta of 1.94. The stock has a 50 day moving average of $43.70 and a 200 day moving average of $40.64. Healthequity has a 52-week low of $22.26 and a 52-week high of $49.25.

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

In other news, Director Frank Medici sold 1,000,000 shares of the stock in a transaction dated Thursday, January 19th. The shares were sold at an average price of $46.45, for a total transaction of $46,450,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Frank Corvino sold 35,000 shares of the stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $40.33, for a total transaction of $1,411,550.00. Following the transaction, the director now directly owns 7,500 shares in the company, valued at approximately $302,475. The disclosure for this sale can be found here. Insiders have sold 1,221,920 shares of company stock worth $56,457,573 in the last ninety days. Corporate insiders own 29.00% of the company’s stock.

Several institutional investors have recently modified their holdings of HQY. Municipal Employees Retirement System of Michigan boosted its position 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 valued at $297,000 after buying an additional 130 shares during the last quarter. Putnam Investments LLC boosted its position in shares of Healthequity by 1.3% in the fourth quarter. Putnam Investments LLC now owns 33,387 shares of the company’s stock valued at $1,353,000 after buying an additional 437 shares during the last quarter. New York State Teachers Retirement System boosted its position 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 valued at $1,258,000 after buying an additional 500 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position 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 valued at $893,000 after buying an additional 590 shares during the last quarter. Finally, HighTower Advisors LLC boosted its position in shares of Healthequity by 0.4% in the third quarter. HighTower Advisors LLC now owns 170,799 shares of the company’s stock valued at $6,465,000 after buying an additional 731 shares during the last quarter. 89.22% of the stock is currently owned by institutional investors and hedge funds.

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.

5 Day Chart for NASDAQ:HQY

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