HealthEquity (NASDAQ:HQY) Upgraded at BMO Capital Markets

HealthEquity (NASDAQ:HQY) was upgraded by research analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a $105.00 price target on the stock, up from their previous price target of $85.00. BMO Capital Markets’ price target indicates a potential upside of 28.13% from the company’s current price.

Several other equities analysts have also recently weighed in on HQY. Wall Street Zen cut HealthEquity from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Barclays decreased their target price on HealthEquity from $118.00 to $110.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Royal Bank Of Canada decreased their target price on HealthEquity from $110.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, March 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of HealthEquity in a report on Thursday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on HealthEquity from $120.00 to $128.00 and gave the stock a “buy” rating in a report on Thursday, March 19th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.79.

HealthEquity Price Performance

NASDAQ HQY opened at $81.95 on Thursday. The business’s fifty day moving average price is $79.81 and its 200-day moving average price is $89.13. The stock has a market capitalization of $6.92 billion, a price-to-earnings ratio of 33.31, a PEG ratio of 1.54 and a beta of 0.26. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.27 and a quick ratio of 3.27. HealthEquity has a 1-year low of $72.76 and a 1-year high of $116.65.

HealthEquity (NASDAQ:HQY) last released its quarterly earnings results on Tuesday, March 17th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.05. The firm had revenue of $334.59 million for the quarter, compared to analysts’ expectations of $332.48 million. HealthEquity had a return on equity of 13.86% and a net margin of 16.39%.The firm’s revenue was up 7.3% compared to the same quarter last year. On average, equities analysts predict that HealthEquity will post 2.32 earnings per share for the current year.

Hedge Funds Weigh In On HealthEquity

A number of institutional investors have recently bought and sold shares of the stock. Sivia Capital Partners LLC bought a new stake in HealthEquity during the second quarter valued at about $306,000. Hsbc Holdings PLC raised its holdings in HealthEquity by 144.8% during the second quarter. Hsbc Holdings PLC now owns 7,561 shares of the company’s stock valued at $793,000 after acquiring an additional 4,472 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in HealthEquity during the second quarter valued at about $4,747,000. Marshall Wace LLP bought a new stake in HealthEquity during the second quarter valued at about $5,483,000. Finally, Amundi raised its holdings in HealthEquity by 9.3% during the second quarter. Amundi now owns 30,203 shares of the company’s stock valued at $3,059,000 after acquiring an additional 2,574 shares during the period. 99.55% of the stock is owned by institutional investors.

About HealthEquity

HealthEquity, Inc (NASDAQ: HQY) is a leading administrator of consumer-directed health accounts and related benefit solutions in the United States. Founded in 2002 and headquartered in Draper, Utah, the company specializes in health savings accounts (HSAs) and offers complementary services such as flexible spending accounts (FSAs), health reimbursement arrangements (HRAs), COBRA administration and commuter benefits. Through its technology-driven platform, HealthEquity enables employers, health plans and individuals to streamline account management, improve cost transparency and encourage more informed healthcare spending.

Serving millions of members across all 50 states, HealthEquity leverages an open-architecture ecosystem that integrates with health plans, payroll providers and financial institutions.