Zacks Investment Research downgraded shares of Healthequity (NASDAQ:HQY) from a buy rating to a hold rating in a research report released on Wednesday morning.
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. “
A number of other brokerages have also recently weighed in on HQY. Cantor Fitzgerald restated a buy rating and set a $65.00 price objective on shares of Healthequity in a research note on Friday, March 23rd. Oppenheimer lifted their price objective on shares of Healthequity from $58.00 to $68.00 and gave the company an outperform rating in a research note on Tuesday, March 20th. Barrington Research lifted their price objective on shares of Healthequity to $65.00 and gave the company an outperform rating in a research note on Tuesday, March 20th. ValuEngine upgraded shares of Healthequity from a hold rating to a buy rating in a research note on Monday, April 2nd. Finally, Chardan Capital lifted their price objective on shares of Healthequity from $62.00 to $77.00 and gave the company a buy rating in a research note on Tuesday, March 20th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $66.50.
Healthequity (NASDAQ:HQY) last issued its quarterly earnings data on Monday, March 19th. The company reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. Healthequity had a net margin of 20.64% and a return on equity of 13.47%. The business had revenue of $60.44 million for the quarter, compared to analysts’ expectations of $58.46 million. research analysts predict that Healthequity will post 0.77 EPS for the current year.
In related news, VP Darcy G. Mott sold 9,500 shares of Healthequity stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $48.00, for a total value of $456,000.00. Following the transaction, the vice president now owns 99,500 shares of the company’s stock, valued at approximately $4,776,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Ashley Dreier sold 12,000 shares of Healthequity stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $52.00, for a total value of $624,000.00. Following the completion of the transaction, the vice president now directly owns 17,652 shares in the company, valued at approximately $917,904. The disclosure for this sale can be found here. Over the last quarter, insiders sold 735,081 shares of company stock worth $39,413,118. 29.00% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of HQY. Carillon Tower Advisers Inc. purchased a new position in Healthequity in the 4th quarter worth about $34,100,000. Victory Capital Management Inc. increased its stake in Healthequity by 116.4% in the 4th quarter. Victory Capital Management Inc. now owns 1,031,711 shares of the company’s stock worth $48,139,000 after purchasing an additional 555,027 shares in the last quarter. Eagle Asset Management Inc. increased its stake in Healthequity by 58.6% in the 4th quarter. Eagle Asset Management Inc. now owns 1,136,645 shares of the company’s stock worth $53,206,000 after purchasing an additional 419,914 shares in the last quarter. Wells Fargo & Company MN increased its stake in Healthequity by 49.5% in the 3rd quarter. Wells Fargo & Company MN now owns 1,108,410 shares of the company’s stock worth $56,063,000 after purchasing an additional 366,925 shares in the last quarter. Finally, BlackRock Inc. increased its stake in Healthequity by 3.8% in the 4th quarter. BlackRock Inc. now owns 6,751,491 shares of the company’s stock worth $315,026,000 after purchasing an additional 244,819 shares in the last quarter. 99.38% of the stock is currently owned by hedge funds and other institutional investors.
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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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