HealthEquity, Inc. (HQY) Rating Lowered to Hold at Zacks Investment Research
HealthEquity, Inc. (NASDAQ:HQY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “HealthEquity, Inc. is a technology-enabled services platforms that empower consumers to make healthcare saving and spending decisions. The Company’s platform provides an ecosystem where consumers can access their tax-advantaged healthcare savings, compare treatment options and pricing, evaluate and pay healthcare bills, receive personalized benefit and clinical information, earn wellness incentives, and make educated investment choices to grow their tax-advantaged healthcare savings. HealthEquity, Inc. is headquartered in Draper, Utah. “
Other analysts also recently issued reports about the stock. BidaskClub raised shares of HealthEquity from a “sell” rating to a “hold” rating in a report on Tuesday, November 7th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $56.00 price objective on shares of HealthEquity in a report on Tuesday, September 5th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $61.00 price objective on shares of HealthEquity in a report on Wednesday, September 6th. Robert W. Baird reaffirmed a “hold” rating on shares of HealthEquity in a report on Thursday, September 21st. Finally, TheStreet raised shares of HealthEquity from a “c” rating to a “b” rating in a report on Monday, July 31st. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $57.50.
Shares of HealthEquity (HQY) opened at $49.77 on Wednesday. The company has a market cap of $3,008.71, a price-to-earnings ratio of 78.95, a PEG ratio of 2.18 and a beta of 1.77. HealthEquity has a twelve month low of $37.62 and a twelve month high of $55.31.
HealthEquity (NASDAQ:HQY) last released its quarterly earnings data on Tuesday, September 5th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.14 by $0.13. The business had revenue of $56.90 million for the quarter, compared to the consensus estimate of $55.66 million. HealthEquity had a net margin of 20.27% and a return on equity of 13.93%. The business’s revenue for the quarter was up 28.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.16 EPS. analysts predict that HealthEquity will post 0.7 EPS for the current year.
In related news, VP Ashley Dreier sold 10,000 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $45.50, for a total value of $455,000.00. Following the completion of the transaction, the vice president now directly owns 15,652 shares in the company, valued at approximately $712,166. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Berkley Capital, Llc sold 373,500 shares of the business’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $53.21, for a total transaction of $19,873,935.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,563,591 shares of company stock valued at $81,519,756. Company insiders own 19.00% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its position in HealthEquity by 4.3% during the second quarter. BlackRock Inc. now owns 5,831,014 shares of the company’s stock worth $290,559,000 after acquiring an additional 241,061 shares during the period. Vanguard Group Inc. raised its position in HealthEquity by 3.0% during the second quarter. Vanguard Group Inc. now owns 4,237,298 shares of the company’s stock worth $211,145,000 after acquiring an additional 122,061 shares during the period. Wasatch Advisors Inc. raised its position in HealthEquity by 2.2% during the second quarter. Wasatch Advisors Inc. now owns 2,442,180 shares of the company’s stock worth $121,694,000 after acquiring an additional 52,885 shares during the period. FMR LLC raised its position in HealthEquity by 45.6% during the second quarter. FMR LLC now owns 2,235,150 shares of the company’s stock worth $111,378,000 after acquiring an additional 699,728 shares during the period. Finally, Janus Henderson Group PLC raised its position in HealthEquity by 627.9% during the second quarter. Janus Henderson Group PLC now owns 2,113,030 shares of the company’s stock worth $105,292,000 after acquiring an additional 1,822,732 shares during the period. Hedge funds and other institutional investors own 91.75% of the company’s stock.
HealthEquity, Inc provides a range of solutions for managing healthcare accounts (Health Savings Accounts (HSAs), Health Reimbursement Arrangements (HRAs) and Flexible Spending Accounts (FSAs)) for health plans, insurance companies and third-party administrators. The Company is engaged in technology-enabled services platforms that allow consumers to make healthcare saving and spending decisions.
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