Royal Bank of Canada Forecasts Strong Price Appreciation for HealthEquity (NASDAQ:HQY) Stock

HealthEquity (NASDAQ:HQY) had its price target increased by equities researchers at Royal Bank of Canada from $100.00 to $105.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 9.75% from the stock’s previous close.

HQY has been the subject of several other research reports. Mizuho began coverage on shares of HealthEquity in a report on Wednesday, December 4th. They issued an “outperform” rating and a $126.00 target price for the company. BTIG Research upped their target price on shares of HealthEquity from $110.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Barrington Research upped their target price on shares of HealthEquity from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Bank of America upped their target price on shares of HealthEquity from $100.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, JMP Securities restated a “market outperform” rating and issued a $105.00 target price on shares of HealthEquity in a report on Wednesday, September 4th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, HealthEquity has an average rating of “Moderate Buy” and an average price target of $110.57.

HealthEquity Stock Down 5.3 %

NASDAQ HQY traded down $5.33 on Tuesday, hitting $95.67. 211,317 shares of the stock were exchanged, compared to its average volume of 625,859. The company has a quick ratio of 4.10, a current ratio of 4.10 and a debt-to-equity ratio of 0.51. HealthEquity has a fifty-two week low of $62.10 and a fifty-two week high of $105.82. The company has a market cap of $8.35 billion, a PE ratio of 79.73, a PEG ratio of 1.57 and a beta of 0.55. The company has a 50-day moving average price of $92.81 and a 200-day moving average price of $83.79.

Insiders Place Their Bets

In other HealthEquity news, Director Robert W. Selander sold 8,250 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $82.98, for a total transaction of $684,585.00. Following the completion of the transaction, the director now owns 54,719 shares in the company, valued at approximately $4,540,582.62. This represents a 13.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank Corvino sold 1,039 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $96.10, for a total transaction of $99,847.90. Following the completion of the transaction, the director now owns 3,784 shares of the company’s stock, valued at $363,642.40. This represents a 21.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,536 shares of company stock worth $884,517. 2.20% of the stock is owned by insiders.

Institutional Investors Weigh In On HealthEquity

Hedge funds have recently modified their holdings of the stock. CWM LLC lifted its position in HealthEquity by 6.9% during the second quarter. CWM LLC now owns 3,958 shares of the company’s stock valued at $341,000 after buying an additional 255 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of HealthEquity by 48.5% during the second quarter. SG Americas Securities LLC now owns 3,798 shares of the company’s stock worth $327,000 after purchasing an additional 1,241 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of HealthEquity during the second quarter worth $1,122,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of HealthEquity during the second quarter worth $265,000. Finally, Narus Financial Partners LLC lifted its position in shares of HealthEquity by 47.8% during the second quarter. Narus Financial Partners LLC now owns 6,526 shares of the company’s stock worth $563,000 after purchasing an additional 2,110 shares in the last quarter. 99.55% of the stock is owned by institutional investors and hedge funds.

About HealthEquity

HealthEquity, Inc provides technology-enabled services platforms to consumers and employers in the United States. The company offers cloud-based platforms for individuals to make health saving and spending decisions, pay healthcare bills, receive personalized benefit information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts.