The Goldman Sachs Group Initiates Coverage on HealthEquity (NASDAQ:HQY)

The Goldman Sachs Group assumed coverage on shares of HealthEquity (NASDAQ:HQY) in a research note issued to investors on Friday morning, Marketbeat.com reports. The firm issued a neutral rating and a $108.00 target price on the stock.

Several other equities analysts also recently commented on HQY. Royal Bank of Canada reiterated an “outperform” rating and issued a $92.00 price objective on shares of HealthEquity in a research note on Wednesday, September 4th. JMP Securities reaffirmed a “market outperform” rating and set a $105.00 price target on shares of HealthEquity in a research report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft lifted their price objective on HealthEquity from $102.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. BTIG Research upped their price objective on shares of HealthEquity from $110.00 to $130.00 and gave the company a “buy” rating in a report on Thursday. Finally, Bank of America lifted their target price on shares of HealthEquity from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $107.23.

HealthEquity Stock Performance

HealthEquity stock traded up $3.28 during mid-day trading on Friday, reaching $98.98. 1,561,907 shares of the company’s stock were exchanged, compared to its average volume of 620,201. The business’s fifty day simple moving average is $85.02 and its 200 day simple moving average is $81.07. The company has a quick ratio of 4.10, a current ratio of 4.10 and a debt-to-equity ratio of 0.51. HealthEquity has a one year low of $62.10 and a one year high of $101.17. The firm has a market capitalization of $8.64 billion, a PE ratio of 82.48, a P/E/G ratio of 1.48 and a beta of 0.52.

HealthEquity (NASDAQ:HQY) last released its earnings results on Tuesday, September 3rd. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.16. The company 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%. On average, sell-side analysts expect that HealthEquity will post 2.27 earnings per share for the current year.

Insider Transactions at HealthEquity

In other news, Director Robert W. Selander sold 8,250 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $82.98, for a total value of $684,585.00. Following the completion of the sale, the director now owns 54,719 shares of the company’s stock, valued at approximately $4,540,582.62. This represents a 13.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank Corvino sold 1,247 shares of the stock in a transaction on 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 position. The disclosure for this sale can be found here. Insiders have sold 10,536 shares of company stock valued at $884,517 in the last quarter. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of HealthEquity by 1.7% in the first quarter. Vanguard Group Inc. now owns 8,768,632 shares of the company’s stock worth $715,783,000 after purchasing an additional 149,133 shares during the last quarter. Wasatch Advisors LP grew its holdings in HealthEquity by 6.6% in 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 during the last quarter. State Street Corp increased its position in shares of HealthEquity by 0.8% in the third quarter. State Street Corp now owns 3,131,900 shares of the company’s stock valued at $256,346,000 after acquiring an additional 23,613 shares during the period. Clearbridge Investments LLC raised its stake in shares of HealthEquity by 1.9% during the second quarter. Clearbridge Investments LLC now owns 2,377,204 shares of the company’s stock valued at $204,915,000 after acquiring an additional 43,491 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of HealthEquity by 16.0% during the second quarter. Mackenzie Financial Corp now owns 2,364,521 shares of the company’s stock worth $203,822,000 after purchasing an additional 325,906 shares during the period. 99.55% of the stock is owned by institutional investors.

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.