Raymond James Raises Healthequity (NASDAQ:HQY) Price Target to $90.00

Healthequity (NASDAQ:HQY) had its price target upped by Raymond James from $85.00 to $90.00 in a report published on Friday, The Fly reports. The brokerage currently has an outperform rating on the stock.

HQY has been the topic of several other research reports. Zacks Investment Research downgraded shares of HENGAN INTL GRP/ADR from a strong-buy rating to a hold rating in a research note on Tuesday, May 21st. ValuEngine downgraded shares of Zynerba Pharmaceuticals from a buy rating to a hold rating in a research note on Wednesday, July 17th. Bank of America downgraded shares of Public Service Enterprise Group from a buy rating to a neutral rating and set a $65.00 price target on the stock. in a research note on Friday. JPMorgan Chase & Co. set a $69.00 price target on shares of Helmerich & Payne and gave the stock a buy rating in a research note on Wednesday, June 5th. Finally, Citigroup reaffirmed a buy rating on shares of Healthequity in a research note on Friday, June 28th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $87.92.

Healthequity stock opened at $79.18 on Friday. The stock has a market capitalization of $4.97 billion, a P/E ratio of 83.35, a price-to-earnings-growth ratio of 3.93 and a beta of 1.46. The company’s fifty day simple moving average is $67.56. The company has a current ratio of 15.60, a quick ratio of 15.59 and a debt-to-equity ratio of 0.07. Healthequity has a 52-week low of $50.29 and a 52-week high of $101.58.

Healthequity (NASDAQ:HQY) last announced its earnings results on Tuesday, June 4th. The company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.11. Healthequity had a net margin of 30.60% and a return on equity of 14.17%. The business had revenue of $87.05 million for the quarter, compared to the consensus estimate of $83.98 million. As a group, sell-side analysts anticipate that Healthequity will post 1.01 EPS for the current year.

In other news, VP Darcy G. Mott sold 4,000 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $68.17, for a total value of $272,680.00. Following the sale, the vice president now directly owns 64,100 shares in the company, valued at approximately $4,369,697. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jon Kessler purchased 10,000 shares of the stock in a transaction dated Friday, July 12th. The stock was purchased at an average price of $61.00 per share, for a total transaction of $610,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 442,410 shares in the company, valued at approximately $26,987,010. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 27,024 shares of company stock worth $1,912,611. 3.70% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Manchester Capital Management LLC purchased a new position in shares of Healthequity in the 1st quarter valued at approximately $36,000. Global Retirement Partners LLC raised its position in shares of Healthequity by 72.7% in the 1st quarter. Global Retirement Partners LLC now owns 556 shares of the company’s stock valued at $41,000 after purchasing an additional 234 shares during the last quarter. Financial Gravity Wealth Inc. purchased a new position in shares of Healthequity in the 1st quarter valued at approximately $45,000. Quantamental Technologies LLC raised its position in shares of Healthequity by 5,683.3% in the 1st quarter. Quantamental Technologies LLC now owns 694 shares of the company’s stock valued at $51,000 after purchasing an additional 682 shares during the last quarter. Finally, Signaturefd LLC raised its position in shares of Healthequity by 24.3% in the 1st quarter. Signaturefd LLC now owns 803 shares of the company’s stock valued at $59,000 after purchasing an additional 157 shares during the last quarter. Institutional investors and hedge funds own 95.98% of the company’s stock.

About Healthequity

HealthEquity, Inc provides various solutions for managing health care accounts, health reimbursement arrangements, and flexible spending accounts for health plans, insurance companies, and third-party administrators in the United States. The company offers healthcare saving and spending platform, a cloud-based platform for individuals to make health saving and spending decisions, pay healthcare bills, compare treatment options and prices, receive personalized benefit and clinical information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts.

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Analyst Recommendations for Healthequity (NASDAQ:HQY)

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