Barrington Research Reiterates “Outperform” Rating for HealthEquity (NASDAQ:HQY)

HealthEquity (NASDAQ:HQY)‘s stock had its “outperform” rating reaffirmed by analysts at Barrington Research in a research report issued on Friday,Benzinga reports. They currently have a $110.00 price target on the stock. Barrington Research’s price objective would suggest a potential upside of 25.83% from the stock’s previous close.

Several other equities analysts have also issued reports on HQY. Raymond James Financial set a $100.00 target price on shares of HealthEquity in a report on Tuesday, February 17th. Wall Street Zen lowered shares of HealthEquity from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. UBS Group set a $110.00 target price on shares of HealthEquity in a report on Tuesday, February 17th. JPMorgan Chase & Co. lowered their target price on shares of HealthEquity from $129.00 to $123.00 and set an “overweight” rating for the company in a report on Wednesday, March 18th. Finally, Jefferies Financial Group set a $108.00 target price on shares of HealthEquity in a report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.79.

HealthEquity Stock Up 1.1%

HQY traded up $0.99 on Friday, hitting $87.42. The company had a trading volume of 223,813 shares, compared to its average volume of 989,671. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.27 and a quick ratio of 3.27. HealthEquity has a 52-week low of $72.76 and a 52-week high of $116.65. The stock has a fifty day simple moving average of $82.29 and a 200-day simple moving average of $86.97. The firm has a market capitalization of $7.33 billion, a P/E ratio of 35.54, a P/E/G ratio of 1.59 and a beta of 0.19.

HealthEquity (NASDAQ:HQY) last issued its quarterly earnings data on Tuesday, March 17th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.90 by $0.05. HealthEquity had a net margin of 16.39% and a return on equity of 13.86%. The business had revenue of $334.59 million during the quarter, compared to analyst estimates of $332.48 million. HealthEquity’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, equities analysts expect that HealthEquity will post 3.84 EPS for the current fiscal year.

Institutional Investors Weigh In On HealthEquity

Several institutional investors and hedge funds have recently made changes to their positions in the company. Xponance Inc. increased its position in shares of HealthEquity by 0.8% during the third quarter. Xponance Inc. now owns 12,265 shares of the company’s stock valued at $1,162,000 after acquiring an additional 102 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its position in HealthEquity by 4.2% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,872 shares of the company’s stock worth $240,000 after purchasing an additional 116 shares during the period. Truist Financial Corp grew its position in HealthEquity by 4.9% in the 4th quarter. Truist Financial Corp now owns 2,537 shares of the company’s stock worth $232,000 after purchasing an additional 119 shares during the period. Fiduciary Trust Co grew its position in HealthEquity by 3.4% in the 3rd quarter. Fiduciary Trust Co now owns 3,669 shares of the company’s stock worth $348,000 after purchasing an additional 120 shares during the period. Finally, Larson Financial Group LLC grew its position in HealthEquity by 24.4% in the 3rd quarter. Larson Financial Group LLC now owns 628 shares of the company’s stock worth $60,000 after purchasing an additional 123 shares during the period. Institutional investors own 99.55% of the company’s stock.

About HealthEquity

HealthEquity, Inc (NASDAQ: HQY) is a leading administrator of consumer-directed health accounts and related benefit solutions in the United States. Founded in 2002 and headquartered in Draper, Utah, the company specializes in health savings accounts (HSAs) and offers complementary services such as flexible spending accounts (FSAs), health reimbursement arrangements (HRAs), COBRA administration and commuter benefits. Through its technology-driven platform, HealthEquity enables employers, health plans and individuals to streamline account management, improve cost transparency and encourage more informed healthcare spending.

Serving millions of members across all 50 states, HealthEquity leverages an open-architecture ecosystem that integrates with health plans, payroll providers and financial institutions.