HealthEquity (NASDAQ:HQY) Given New $130.00 Price Target at BTIG Research

HealthEquity (NASDAQ:HQY) had its price target increased by BTIG Research from $110.00 to $130.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft increased their target price on HealthEquity from $102.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Royal Bank of Canada restated an “outperform” rating and issued a $92.00 target price on shares of HealthEquity in a research note on Wednesday, September 4th. Barrington Research reiterated an “outperform” rating and set a $105.00 price objective on shares of HealthEquity in a research note on Friday, September 20th. JMP Securities restated a “market outperform” rating and set a $105.00 target price on shares of HealthEquity in a research report on Wednesday, September 4th. Finally, Bank of America raised their target price on HealthEquity from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.23.

HealthEquity Stock Up 3.3 %

NASDAQ HQY traded up $3.15 during midday trading on Thursday, hitting $98.85. 517,662 shares of the company traded hands, compared to its average volume of 615,497. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.10 and a quick ratio of 4.10. The company has a market cap of $8.63 billion, a PE ratio of 82.64, a price-to-earnings-growth ratio of 1.48 and a beta of 0.52. The company’s 50-day simple moving average is $84.56 and its 200-day simple moving average is $80.94. HealthEquity has a 52 week low of $62.10 and a 52 week high of $101.17.

HealthEquity (NASDAQ:HQY) last announced its earnings results on Tuesday, September 3rd. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.16. The business had revenue of $299.93 million for the quarter, compared to analysts’ expectations of $284.48 million. HealthEquity had a return on equity of 9.01% and a net margin of 9.61%. As a group, equities research analysts forecast that HealthEquity will post 2.27 earnings per share for the current year.

Insiders Place Their Bets

In other HealthEquity news, Director Frank Corvino sold 1,247 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $80.26, for a total transaction of $100,084.22. Following the transaction, the director now directly owns 4,823 shares in the company, valued at approximately $387,093.98. This represents a 20.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert W. Selander sold 8,250 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $82.98, for a total transaction of $684,585.00. Following the completion of the sale, the director now owns 54,719 shares in the company, valued at $4,540,582.62. This represents a 13.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,536 shares of company stock worth $884,517. 2.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On HealthEquity

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of HealthEquity by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 8,768,632 shares of the company’s stock valued at $715,783,000 after acquiring an additional 149,133 shares during the period. Wasatch Advisors LP grew its holdings in HealthEquity by 6.6% during the 3rd quarter. Wasatch Advisors LP now owns 7,758,890 shares of the company’s stock worth $635,065,000 after acquiring an additional 483,269 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in shares of HealthEquity by 1.9% in the 2nd quarter. Clearbridge Investments LLC now owns 2,377,204 shares of the company’s stock valued at $204,915,000 after buying an additional 43,491 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of HealthEquity by 16.0% in the 2nd quarter. Mackenzie Financial Corp now owns 2,364,521 shares of the company’s stock valued at $203,822,000 after buying an additional 325,906 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in HealthEquity by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,547,402 shares of the company’s stock valued at $133,377,000 after purchasing an additional 115,841 shares during the last quarter. Hedge funds and other institutional investors own 99.55% of the company’s stock.

About HealthEquity

HealthEquity, Inc provides technology-enabled services platforms to consumers and employers in the United States. The company offers cloud-based platforms for individuals to make health saving and spending decisions, pay healthcare bills, receive personalized benefit information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts.