SunTrust Banks Boosts Healthequity (HQY) Price Target to $105.00

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Healthequity (NASDAQ:HQY) had its target price boosted by SunTrust Banks to $105.00 in a report issued on Wednesday morning, The Fly reports. They currently have a buy rating on the stock.

A number of other brokerages have also issued reports on HQY. Citigroup reissued a buy rating and issued a $110.00 target price on shares of Healthequity in a research report on Wednesday. Cantor Fitzgerald boosted their target price on Healthequity from $68.00 to $80.00 and gave the company a neutral rating in a research report on Wednesday. Wells Fargo & Co boosted their target price on Healthequity from $84.00 to $105.00 and gave the company an outperform rating in a research report on Wednesday. Oppenheimer boosted their target price on Healthequity from $85.00 to $104.00 and gave the company an outperform rating in a research report on Wednesday. Finally, KeyCorp boosted their price target on shares of Healthequity from $90.00 to $105.00 and gave the stock an overweight rating in a research note on Tuesday. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $92.08.

HQY stock opened at $96.92 on Wednesday. The company has a market cap of $5.85 billion, a PE ratio of 179.48, a PEG ratio of 3.92 and a beta of 1.47. Healthequity has a one year low of $42.92 and a one year high of $97.93.

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

In related 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 completion of the transaction, the vice president now owns 99,200 shares in the company, valued at $8,567,904. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Angelique Christine Hill sold 8,000 shares of the business’s stock in a transaction on Friday, June 8th. The stock was sold at an average price of $77.45, for a total transaction of $619,600.00. Following the transaction, the vice president now owns 18,471 shares of the company’s stock, valued at approximately $1,430,578.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,500 shares of company stock valued at $3,932,081. Insiders own 4.00% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in Healthequity by 11.3% in the second quarter. BlackRock Inc. now owns 7,688,768 shares of the company’s stock valued at $577,427,000 after acquiring an additional 777,915 shares in the last quarter. FMR LLC boosted its stake in Healthequity by 26.5% in the second quarter. FMR LLC now owns 3,410,542 shares of the company’s stock valued at $256,132,000 after acquiring an additional 715,441 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Healthequity by 6.8% in the first quarter. JPMorgan Chase & Co. now owns 1,229,111 shares of the company’s stock valued at $74,411,000 after acquiring an additional 78,021 shares in the last quarter. Carillon Tower Advisers Inc. raised its holdings in shares of Healthequity by 751.9% in the second quarter. Carillon Tower Advisers Inc. now owns 752,482 shares of the company’s stock valued at $56,511,000 after buying an additional 664,157 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Healthequity by 1.5% in the first quarter. Northern Trust Corp now owns 664,085 shares of the company’s stock valued at $40,204,000 after buying an additional 9,575 shares during the last quarter. Hedge funds and other institutional investors own 97.12% of the company’s stock.

About Healthequity

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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