HealthEquity (NASDAQ:HQY) Shares Gap Down – What’s Next?

HealthEquity, Inc. (NASDAQ:HQY) shares gapped down before the market opened on Wednesday . The stock had previously closed at $101.67, but opened at $85.00. HealthEquity shares last traded at $82.74, with a volume of 1,085,175 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on HQY shares. Barrington Research reaffirmed an “outperform” rating and set a $112.00 target price on shares of HealthEquity in a research note on Friday, March 14th. JMP Securities lifted their target price on shares of HealthEquity from $105.00 to $107.00 and gave the company a “market outperform” rating in a research note on Tuesday, December 10th. Raymond James lifted their target price on shares of HealthEquity from $105.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday, February 25th. Wells Fargo & Company lifted their target price on shares of HealthEquity from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada boosted their price objective on shares of HealthEquity from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, HealthEquity currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.92.

HealthEquity Price Performance

The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.51. The firm’s fifty day moving average price is $105.20 and its two-hundred day moving average price is $95.51. The stock has a market capitalization of $7.33 billion, a PE ratio of 77.61, a PEG ratio of 1.60 and a beta of 0.62.

Insider Activity

In other HealthEquity news, Director Robert W. Selander sold 5,750 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $111.29, for a total transaction of $639,917.50. Following the completion of the sale, the director now directly owns 78,219 shares of the company’s stock, valued at approximately $8,704,992.51. This represents a 6.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.20% of the stock is owned by corporate insiders.

Institutional Trading of HealthEquity

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC increased its stake in shares of HealthEquity by 40.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,115 shares of the company’s stock worth $491,000 after purchasing an additional 1,466 shares in the last quarter. ABLE Financial Group LLC lifted its position in HealthEquity by 8.5% during the fourth quarter. ABLE Financial Group LLC now owns 21,725 shares of the company’s stock valued at $2,085,000 after purchasing an additional 1,709 shares during the last quarter. Forum Financial Management LP bought a new position in HealthEquity during the fourth quarter valued at $214,000. Public Employees Retirement System of Ohio lifted its position in HealthEquity by 6.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 97,323 shares of the company’s stock valued at $9,338,000 after purchasing an additional 5,569 shares during the last quarter. Finally, GTS Securities LLC bought a new position in HealthEquity during the fourth quarter valued at $239,000. 99.55% of the stock is owned by hedge funds and other institutional investors.

HealthEquity Company Profile

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.