Raymond James Increases HealthEquity (NASDAQ:HQY) Price Target to $120.00

HealthEquity (NASDAQ:HQY) had its target price hoisted by research analysts at Raymond James from $105.00 to $120.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Raymond James’ price objective indicates a potential upside of 15.90% from the company’s previous close.

HQY has been the subject of several other reports. Barrington Research boosted their target price on shares of HealthEquity from $105.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Mizuho began coverage on shares of HealthEquity in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $126.00 target price for the company. BTIG Research boosted their target price on shares of HealthEquity from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Bank of America boosted their target price on shares of HealthEquity from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, JMP Securities upped their price objective on shares of HealthEquity from $105.00 to $107.00 and gave the stock a “market outperform” rating in a report on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $112.38.

HealthEquity Price Performance

Shares of NASDAQ HQY traded down $5.89 during midday trading on Tuesday, reaching $103.54. The company’s stock had a trading volume of 368,321 shares, compared to its average volume of 715,711. The company has a market cap of $8.97 billion, a price-to-earnings ratio of 94.92, a price-to-earnings-growth ratio of 1.60 and a beta of 0.55. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.51. The company has a 50 day moving average price of $103.98 and a 200 day moving average price of $92.64. HealthEquity has a one year low of $65.01 and a one year high of $115.59.

HealthEquity (NASDAQ:HQY) last released its quarterly earnings data on Monday, December 9th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.12). HealthEquity had a net margin of 8.41% and a return on equity of 9.70%. During the same quarter last year, the business posted $0.40 earnings per share. On average, equities research analysts expect that HealthEquity will post 2.32 EPS for the current year.

Insider Activity

In other HealthEquity news, Director Robert W. Selander sold 5,750 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $111.29, for a total transaction of $639,917.50. Following the sale, the director now directly owns 78,219 shares in the company, valued at approximately $8,704,992.51. This trade represents a 6.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Stuart B. Parker sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $96.72, for a total transaction of $2,418,000.00. Following the sale, the director now owns 19,061 shares in the company, valued at $1,843,579.92. This trade represents a 56.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,000 shares of company stock valued at $3,895,788. 2.20% of the stock is currently owned by insiders.

Institutional Trading of HealthEquity

Hedge funds and other institutional investors have recently made changes to their positions in the business. Holocene Advisors LP acquired a new stake in shares of HealthEquity in the third quarter valued at approximately $1,246,000. GSA Capital Partners LLP acquired a new stake in shares of HealthEquity in the third quarter valued at approximately $638,000. Natixis Advisors LLC raised its holdings in shares of HealthEquity by 29.8% in the third quarter. Natixis Advisors LLC now owns 209,175 shares of the company’s stock valued at $17,122,000 after purchasing an additional 48,009 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in HealthEquity by 36.7% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 843,423 shares of the company’s stock worth $69,034,000 after buying an additional 226,563 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its holdings in HealthEquity by 2.2% during the third quarter. Loomis Sayles & Co. L P now owns 1,126,645 shares of the company’s stock worth $92,216,000 after buying an additional 24,665 shares during the last quarter. 99.55% of the stock is currently 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.