Wells Fargo & Company Issues Positive Forecast for HealthEquity (NASDAQ:HQY) Stock Price

HealthEquity (NASDAQ:HQY) had its target price raised by equities research analysts at Wells Fargo & Company from $110.00 to $125.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 15.96% from the company’s previous close.

Several other research analysts also recently commented on HQY. Royal Bank of Canada boosted their target price on HealthEquity from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Barrington Research upped their price objective on shares of HealthEquity from $105.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Bank of America raised their target price on shares of HealthEquity from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Mizuho initiated coverage on shares of HealthEquity in a research note on Wednesday, December 4th. They set an “outperform” rating and a $126.00 target price on the stock. Finally, Raymond James upped their target price on HealthEquity from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Tuesday. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $113.54.

HealthEquity Stock Performance

Shares of HQY stock opened at $107.80 on Wednesday. The company has a market capitalization of $9.34 billion, a price-to-earnings ratio of 96.90, a PEG ratio of 1.60 and a beta of 0.55. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.20 and a current ratio of 3.20. HealthEquity has a 52 week low of $65.01 and a 52 week high of $115.59. The company has a 50-day simple moving average of $104.31 and a 200 day simple moving average of $92.89.

HealthEquity (NASDAQ:HQY) last issued its quarterly earnings data on Monday, December 9th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.12). HealthEquity had a return on equity of 9.70% and a net margin of 8.41%. During the same period in the prior year, the firm posted $0.40 EPS. On average, sell-side analysts predict that HealthEquity will post 2.32 earnings per share for the current year.

Insider Buying and Selling at HealthEquity

In other news, Director Stuart B. Parker sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $96.72, for a total value of $2,418,000.00. Following the sale, the director now owns 19,061 shares of the company’s stock, valued at $1,843,579.92. The trade was a 56.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert W. Selander sold 5,750 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $111.29, for a total transaction of $639,917.50. Following the sale, the director now directly owns 78,219 shares in the company, valued at $8,704,992.51. This trade represents a 6.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 39,000 shares of company stock worth $3,895,788 over the last three months. 2.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On HealthEquity

Several hedge funds have recently bought and sold shares of the stock. Arcadia Investment Management Corp MI bought a new position in shares of HealthEquity in the 4th quarter worth $26,000. Transce3nd LLC bought a new position in HealthEquity in the fourth quarter valued at $29,000. Smartleaf Asset Management LLC raised its position in HealthEquity by 34.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 384 shares of the company’s stock valued at $37,000 after purchasing an additional 98 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of HealthEquity during the 4th quarter valued at about $39,000. Finally, UMB Bank n.a. lifted its holdings in shares of HealthEquity by 65.6% in the 4th quarter. UMB Bank n.a. now owns 414 shares of the company’s stock worth $40,000 after acquiring an additional 164 shares during the last quarter. 99.55% of the stock is currently owned by institutional investors.

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.