Healthequity (NASDAQ:HQY) Given New $80.00 Price Target at SunTrust Banks

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Healthequity (NASDAQ:HQY) had its price target dropped by research analysts at SunTrust Banks to $80.00 in a research report issued to clients and investors on Monday, The Fly reports. The brokerage presently has a “buy” rating on the stock. SunTrust Banks’ price objective points to a potential upside of 33.47% from the stock’s previous close.

HQY has been the topic of several other research reports. Zacks Investment Research raised shares of Healthequity from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 21st. BidaskClub downgraded Healthequity from a “hold” rating to a “sell” rating in a report on Saturday. ValuEngine lowered Healthequity from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Oppenheimer reduced their price target on Healthequity from $98.00 to $76.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Finally, Citigroup reissued a “buy” rating on shares of Healthequity in a research note on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $81.00.

NASDAQ:HQY opened at $59.94 on Monday. Healthequity has a one year low of $50.29 and a one year high of $101.58. The company has a debt-to-equity ratio of 0.04, a current ratio of 22.98 and a quick ratio of 15.59. The company has a market cap of $3.76 billion, a PE ratio of 63.09, a P/E/G ratio of 3.00 and a beta of 1.56. The firm’s 50 day simple moving average is $67.54 and its 200 day simple moving average is $70.74.

Healthequity (NASDAQ:HQY) last announced its quarterly earnings results on Tuesday, September 3rd. The company reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.10. The firm had revenue of $86.60 million during the quarter, compared to analysts’ expectations of $85.33 million. Healthequity had a net margin of 28.13% and a return on equity of 11.77%. The company’s revenue was up 21.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 EPS. Equities research analysts expect that Healthequity will post 0.93 EPS for the current year.

In other news, VP Darcy G. Mott sold 4,000 shares of Healthequity stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $79.56, for a total value of $318,240.00. Following the completion of the sale, the vice president now owns 54,000 shares in the company, valued at approximately $4,296,240. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Angelique Christine Hill sold 9,500 shares of Healthequity stock in a transaction on Friday, July 12th. The shares were sold at an average price of $71.40, for a total transaction of $678,300.00. Following the completion of the sale, the vice president now owns 15,887 shares of the company’s stock, valued at approximately $1,134,331.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,899 shares of company stock valued at $2,751,451. Company insiders own 3.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its stake in Healthequity by 13.1% in the second quarter. BlackRock Inc. now owns 7,268,685 shares of the company’s stock valued at $475,373,000 after purchasing an additional 840,177 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Healthequity by 2.5% in the second quarter. Vanguard Group Inc. now owns 5,646,295 shares of the company’s stock worth $369,268,000 after acquiring an additional 138,020 shares in the last quarter. Invesco Ltd. grew its stake in Healthequity by 13.7% in the second quarter. Invesco Ltd. now owns 2,140,851 shares of the company’s stock valued at $140,012,000 after acquiring an additional 258,769 shares during the period. Janus Henderson Group PLC grew its stake in Healthequity by 13.9% in the second quarter. Janus Henderson Group PLC now owns 2,057,831 shares of the company’s stock valued at $134,582,000 after acquiring an additional 250,692 shares during the period. Finally, Wasatch Advisors Inc. grew its stake in Healthequity by 22.6% in the first quarter. Wasatch Advisors Inc. now owns 2,038,929 shares of the company’s stock valued at $150,840,000 after acquiring an additional 376,461 shares during the period. 94.77% of the stock is currently owned by institutional investors and hedge funds.

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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