HealthEquity (NASDAQ:HQY) Coverage Initiated at The Goldman Sachs Group

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

Several other analysts have also recently issued reports on HQY. BTIG Research increased their price objective on HealthEquity from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. 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. Barrington Research restated an “outperform” rating and set a $105.00 target price on shares of HealthEquity in a research note on Friday, September 20th. JMP Securities reaffirmed a “market outperform” rating and issued a $105.00 target price on shares of HealthEquity in a report on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of HealthEquity from $102.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $107.23.

HealthEquity Stock Performance

Shares of HealthEquity stock opened at $102.40 on Friday. The stock has a market capitalization of $8.94 billion, a price-to-earnings ratio of 85.33, a price-to-earnings-growth ratio of 1.55 and a beta of 0.52. 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 business has a 50-day moving average of $85.54 and a 200 day moving average of $81.25. HealthEquity has a 12 month low of $62.10 and a 12 month high of $103.12.

HealthEquity (NASDAQ:HQY) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.50 by $0.16. HealthEquity had a net margin of 9.61% and a return on equity of 9.01%. The business had revenue of $299.93 million during the quarter, compared to analyst estimates of $284.48 million. As a group, sell-side 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 1,039 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $96.10, for a total transaction of $99,847.90. Following the completion of the transaction, the director now owns 3,784 shares in the company, valued at approximately $363,642.40. This represents a 21.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert W. Selander sold 8,250 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $82.98, for a total transaction of $684,585.00. Following the transaction, the director now directly owns 54,719 shares of the company’s stock, 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 90 days, insiders have sold 10,536 shares of company stock valued at $884,517. 2.20% of the stock is currently owned by insiders.

Institutional Trading of HealthEquity

Several hedge funds have recently modified their holdings of HQY. International Assets Investment Management LLC purchased a new position in HealthEquity during the 2nd quarter valued at about $35,000. Paladin Wealth LLC purchased a new position in HealthEquity during the third quarter worth about $39,000. GAMMA Investing LLC boosted its position in shares of HealthEquity by 114.8% in the second quarter. GAMMA Investing LLC now owns 595 shares of the company’s stock worth $51,000 after acquiring an additional 318 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of HealthEquity in the 2nd quarter valued at $73,000. Finally, Quarry LP grew its position in HealthEquity by 418.8% during the third quarter. Quarry LP now owns 1,349 shares of the company’s stock valued at $110,000 after acquiring an additional 1,089 shares during the period. 99.55% of the stock is owned by institutional investors and hedge funds.

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.