BTIG Research Increases HealthEquity (NASDAQ:HQY) Price Target to $130.00

HealthEquity (NASDAQ:HQY) had its price target hoisted by research analysts at BTIG Research from $110.00 to $130.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price target indicates a potential upside of 31.34% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Bank of America boosted their target price on shares of HealthEquity from $100.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday. JMP Securities reiterated a “market outperform” rating and issued a $105.00 price objective on shares of HealthEquity in a research report on Wednesday, September 4th. Royal Bank of Canada reissued an “outperform” rating and set a $92.00 target price on shares of HealthEquity in a research note on Wednesday, September 4th. Barrington Research reaffirmed an “outperform” rating and issued a $105.00 price target on shares of HealthEquity in a research note on Friday, September 20th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on HealthEquity from $102.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.23.

HealthEquity Price Performance

HQY stock opened at $98.98 on Thursday. HealthEquity has a 1 year low of $62.10 and a 1 year high of $101.17. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.10 and a quick ratio of 4.10. The firm has a market capitalization of $8.64 billion, a PE ratio of 82.48, a price-to-earnings-growth ratio of 1.48 and a beta of 0.52. The business has a 50 day simple moving average of $85.02 and a 200-day simple moving average of $81.07.

HealthEquity (NASDAQ:HQY) last issued its earnings results on Tuesday, September 3rd. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.16. HealthEquity had a return on equity of 9.01% and a net margin of 9.61%. The company had revenue of $299.93 million during the quarter, compared to analysts’ expectations of $284.48 million. Equities research analysts anticipate that HealthEquity will post 2.27 earnings per share for the current fiscal year.

Insider Buying and Selling at HealthEquity

In other HealthEquity news, Director Robert W. Selander sold 8,250 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $82.98, for a total value of $684,585.00. Following the sale, the director now directly owns 54,719 shares of the company’s stock, valued at approximately $4,540,582.62. This represents a 13.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Frank Corvino sold 1,247 shares of HealthEquity stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $80.26, for a total transaction of $100,084.22. Following the sale, the director now directly owns 4,823 shares of the company’s stock, valued at approximately $387,093.98. This trade represents a 20.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,536 shares of company stock valued at $884,517 in the last 90 days. Company insiders own 2.20% of the company’s stock.

Institutional Trading of HealthEquity

Hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James Trust N.A. lifted its position in shares of HealthEquity by 4.8% during the 3rd quarter. Raymond James Trust N.A. now owns 2,905 shares of the company’s stock worth $238,000 after buying an additional 132 shares during the last quarter. Truist Financial Corp raised its stake in HealthEquity by 7.0% during the 2nd quarter. Truist Financial Corp now owns 2,864 shares of the company’s stock worth $247,000 after acquiring an additional 188 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in HealthEquity by 3.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 5,219 shares of the company’s stock worth $426,000 after acquiring an additional 197 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in HealthEquity by 7.5% in the second quarter. Nisa Investment Advisors LLC now owns 2,854 shares of the company’s stock valued at $246,000 after acquiring an additional 198 shares during the last quarter. Finally, Elk River Wealth Management LLC boosted its stake in HealthEquity by 0.3% in the third quarter. Elk River Wealth Management LLC now owns 66,181 shares of the company’s stock valued at $5,417,000 after acquiring an additional 217 shares in the last quarter. 99.55% of the stock is currently owned by institutional investors and hedge funds.

About HealthEquity

HealthEquity, Inc provides technology-enabled services platforms to consumers and employers in the United States. The company offers cloud-based platforms for individuals to make health saving and spending decisions, pay healthcare bills, receive personalized benefit information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts.