Bank of America Initiates Coverage on HealthEquity (HQY)

Bank of America initiated coverage on shares of HealthEquity (NASDAQ:HQY) in a report issued on Wednesday, The Fly reports. The firm set a “buy” rating on the stock.

Other research analysts have also recently issued research reports about the company. Robert W. Baird lifted their target price on HealthEquity from $48.00 to $49.00 and gave the company a “neutral” rating in a report on Wednesday, February 7th. Cantor Fitzgerald reiterated a “buy” rating and issued a $60.00 target price on shares of HealthEquity in a report on Thursday, February 22nd. Chardan Capital lifted their target price on HealthEquity from $62.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday, March 20th. Zacks Investment Research upgraded HealthEquity from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Saturday, February 10th. Finally, BidaskClub upgraded HealthEquity from a “buy” rating to a “strong-buy” rating in a report on Friday, March 2nd. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $68.30.

HQY stock opened at $74.86 on Wednesday. HealthEquity has a 52-week low of $40.21 and a 52-week high of $76.76. The firm has a market cap of $4.53 billion, a PE ratio of 138.63, a price-to-earnings-growth ratio of 2.98 and a beta of 1.39.



HealthEquity (NASDAQ:HQY) last posted its quarterly earnings data on Monday, March 19th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. HealthEquity had a return on equity of 13.47% and a net margin of 20.64%. The business had revenue of $60.44 million for the quarter, compared to analysts’ expectations of $58.46 million. research analysts expect that HealthEquity will post 0.77 EPS for the current fiscal year.

In other news, insider Stephen Neeleman sold 240,654 shares of HealthEquity stock in a transaction dated Thursday, May 10th. The stock was sold at an average price of $69.95, for a total transaction of $16,833,747.30. Following the sale, the insider now directly owns 654 shares of the company’s stock, valued at $45,747.30. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Ashley Dreier sold 71,157 shares of HealthEquity stock in a transaction dated Thursday, March 22nd. The stock was sold at an average price of $65.48, for a total value of $4,659,360.36. Following the sale, the vice president now directly owns 21,059 shares in the company, valued at $1,378,943.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 541,842 shares of company stock worth $36,942,900. Corporate insiders own 4.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Citigroup Inc. increased its position in shares of HealthEquity by 414.4% during the first quarter. Citigroup Inc. now owns 2,639 shares of the company’s stock worth $160,000 after acquiring an additional 2,126 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of HealthEquity during the fourth quarter worth about $149,000. WINTON GROUP Ltd bought a new stake in HealthEquity in the first quarter valued at about $206,000. M&T Bank Corp bought a new stake in HealthEquity in the first quarter valued at about $206,000. Finally, Parametrica Management Ltd bought a new stake in HealthEquity in the first quarter valued at about $220,000. 98.54% 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.

The Fly

Analyst Recommendations for HealthEquity (NASDAQ:HQY)

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