Healthequity (HQY) Price Target Raised to $82.00
“. We reiterate our Neutral rating on HQY shares and increase our price target to $82 from $80. After the market close on the company reported strong F3Q19 results that were ahead of our estimates and FactSet consensus. HQY raised its full year guidance ranges at their midpoints. We believe the company is poised for strong growth in F20. HQY’s 4Q is the company’s most active quarter for new member growth. The company also mentioned investments it will be making in 4Q and FY2020. The investments will be offset by a lower than expected tax rate. We maintain our view that the shares’ current valuation already reflects the company’s long-term growth potential.”,” Cantor Fitzgerald’s analyst wrote.
HQY has been the subject of several other research reports. BidaskClub upgraded shares of Healthequity from a buy rating to a strong-buy rating in a research report on Thursday, November 1st. Bank of America cut shares of Healthequity from a buy rating to a neutral rating and lifted their price target for the stock from $84.00 to $105.00 in a research report on Thursday, September 6th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Healthequity from a buy rating to a hold rating in a research report on Tuesday, November 20th. Wells Fargo & Co lifted their price target on shares of Healthequity from $84.00 to $105.00 and gave the stock an outperform rating in a research report on Wednesday, September 5th. Finally, SunTrust Banks lifted their price target on shares of Healthequity to $105.00 and gave the stock a buy rating in a research report on Wednesday, September 5th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Healthequity has an average rating of Buy and a consensus price target of $90.92.
Healthequity (NASDAQ:HQY) last issued its quarterly earnings results on Tuesday, December 4th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.20 by $0.02. Healthequity had a net margin of 24.52% and a return on equity of 12.42%. The company had revenue of $70.50 million during the quarter, compared to analysts’ expectations of $69.60 million. During the same quarter in the previous year, the company earned $0.17 EPS. Healthequity’s revenue was up 24.1% on a year-over-year basis. On average, sell-side analysts anticipate that Healthequity will post 0.87 EPS for the current year.
In related news, VP Darcy G. Mott sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, October 22nd. The shares were sold at an average price of $87.01, for a total transaction of $348,040.00. Following the completion of the transaction, the vice president now owns 92,500 shares in the company, valued at $8,048,425. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have sold 12,000 shares of company stock valued at $1,027,400. Corporate insiders own 4.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of HQY. BlackRock Inc. boosted its holdings in shares of Healthequity by 11.3% in the second quarter. BlackRock Inc. now owns 7,688,768 shares of the company’s stock valued at $577,427,000 after buying an additional 777,915 shares during the period. FMR LLC boosted its holdings in shares of Healthequity by 26.5% in the second quarter. FMR LLC now owns 3,410,542 shares of the company’s stock valued at $256,132,000 after buying an additional 715,441 shares during the period. Carillon Tower Advisers Inc. boosted its holdings in shares of Healthequity by 751.9% in the second quarter. Carillon Tower Advisers Inc. now owns 752,482 shares of the company’s stock valued at $56,511,000 after buying an additional 664,157 shares during the period. Morgan Stanley boosted its holdings in shares of Healthequity by 15.5% in the third quarter. Morgan Stanley now owns 4,001,425 shares of the company’s stock valued at $377,775,000 after buying an additional 536,366 shares during the period. Finally, Clearbridge Investments LLC boosted its holdings in shares of Healthequity by 976,643.6% in the third quarter. Clearbridge Investments LLC now owns 380,930 shares of the company’s stock valued at $35,964,000 after buying an additional 380,891 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.
Healthequity Company Profile
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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