Zacks Investment Research lowered shares of HealthEquity, Inc. (NASDAQ:HQY) from a buy rating to a hold rating in a research note published 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 research analysts have also issued reports about the stock. TheStreet upgraded shares of HealthEquity from a c rating to a b rating in a research note on Monday, July 31st. Oppenheimer Holdings, Inc. restated a buy rating and set a $61.00 price objective on shares of HealthEquity in a research note on Wednesday, September 6th. Cantor Fitzgerald restated a buy rating and set a $56.00 price objective on shares of HealthEquity in a research note on Tuesday, September 5th. BidaskClub lowered shares of HealthEquity from a buy rating to a hold rating in a research note on Monday, July 24th. Finally, Robert W. Baird reiterated a hold rating on shares of HealthEquity in a research note on Thursday, September 21st. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $57.50.
HealthEquity (NASDAQ:HQY) last released its quarterly earnings data on Tuesday, September 5th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.13. The company had revenue of $56.90 million for the quarter, compared to analyst estimates of $55.66 million. HealthEquity had a net margin of 20.27% and a return on equity of 13.93%. HealthEquity’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.16 EPS. equities research analysts predict that HealthEquity will post 0.7 EPS for the current year.
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In other HealthEquity news, major shareholder Berkley Capital, Llc sold 373,500 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $53.21, for a total value of $19,873,935.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Darcy G. Mott sold 9,500 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $42.00, for a total transaction of $399,000.00. Following the completion of the sale, the vice president now directly owns 84,500 shares of the company’s stock, valued at approximately $3,549,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,587,770 shares of company stock worth $82,754,799. 29.00% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of HQY. Zions Bancorporation bought a new stake in HealthEquity in the 3rd quarter valued at about $119,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in HealthEquity by 105.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,544 shares of the company’s stock valued at $127,000 after purchasing an additional 1,308 shares during the period. Riverhead Capital Management LLC boosted its holdings in HealthEquity by 75.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,629 shares of the company’s stock valued at $131,000 after purchasing an additional 1,129 shares during the period. Exane Derivatives bought a new stake in HealthEquity in the 2nd quarter valued at about $132,000. Finally, Oppenheimer Asset Management Inc. boosted its holdings in HealthEquity by 7.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,686 shares of the company’s stock valued at $134,000 after purchasing an additional 191 shares during the period. 91.75% of the stock is owned by hedge funds and other institutional investors.
HealthEquity Company Profile
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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