Healthequity (HQY) Lowered to “Neutral” at Bank of America

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Healthequity (NASDAQ:HQY) was downgraded by equities research analysts at Bank of America from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, The Fly reports. They presently have a $105.00 target price on the stock, up from their prior target price of $84.00. Bank of America’s price target points to a potential upside of 10.96% from the stock’s previous close. The analysts noted that the move was a valuation call.

A number of other brokerages have also weighed in on HQY. Barrington Research restated an “outperform” rating and issued a $100.00 price objective on shares of Healthequity in a report on Wednesday. They noted that the move was a valuation call. SunTrust Banks boosted their price objective on shares of Healthequity to $105.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup restated a “buy” rating and issued a $110.00 price objective on shares of Healthequity in a report on Wednesday. Cantor Fitzgerald boosted their price objective on shares of Healthequity from $68.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Wells Fargo & Co boosted their price objective on shares of Healthequity from $84.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $92.08.

Shares of HQY traded down $2.29 during mid-day trading on Thursday, reaching $94.63. The company’s stock had a trading volume of 2,709 shares, compared to its average volume of 341,861. The firm has a market cap of $5.85 billion, a price-to-earnings ratio of 174.72, a PEG ratio of 3.92 and a beta of 1.47. Healthequity has a 52 week low of $42.92 and a 52 week high of $97.93.

Healthequity (NASDAQ:HQY) last announced its quarterly earnings data on Tuesday, September 4th. The company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.12. The firm had revenue of $71.10 million during the quarter, compared to analyst estimates of $69.84 million. Healthequity had a net margin of 22.91% and a return on equity of 13.47%. The business’s quarterly revenue was up 25.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.27 EPS. equities research analysts forecast that Healthequity will post 0.72 EPS for the current year.

In other Healthequity news, VP Darcy G. Mott sold 4,000 shares of the business’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $86.37, for a total transaction of $345,480.00. Following the transaction, the vice president now directly owns 99,200 shares of the company’s stock, valued at approximately $8,567,904. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Frank Medici sold 15,596 shares of the business’s stock in a transaction on Tuesday, July 10th. The shares were sold at an average price of $80.15, for a total transaction of $1,250,019.40. Following the transaction, the director now directly owns 26,341 shares in the company, valued at $2,111,231.15. The disclosure for this sale can be found here. Insiders have sold a total of 49,500 shares of company stock valued at $3,932,081 over the last quarter. 4.00% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the business. Citigroup Inc. increased its position in Healthequity by 414.4% during the 1st quarter. Citigroup Inc. now owns 2,639 shares of the company’s stock valued at $160,000 after purchasing an additional 2,126 shares during the period. Advisors Asset Management Inc. increased its position in Healthequity by 5,212.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 72,086 shares of the company’s stock valued at $160,000 after purchasing an additional 70,729 shares during the period. Rockefeller Capital Management L.P. purchased a new position in Healthequity during the 2nd quarter valued at $179,000. Cim LLC purchased a new position in Healthequity during the 2nd quarter valued at $204,000. Finally, S&CO Inc. purchased a new position in Healthequity during the 2nd quarter valued at $204,000. 97.12% 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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Analyst Recommendations for Healthequity (NASDAQ:HQY)

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