The Goldman Sachs Group Initiates Coverage on HealthEquity (NASDAQ:HQY)

Equities researchers at The Goldman Sachs Group started coverage on shares of HealthEquity (NASDAQ:HQY - Get Free Report) in a research note issued to investors on Friday, MarketBeat.com reports. The brokerage set a "neutral" rating and a $108.00 price target on the stock. The Goldman Sachs Group's price objective points to a potential upside of 9.11% from the company's previous close.

HQY has been the topic of a number of other research reports. BTIG Research upped their target price on HealthEquity from $110.00 to $130.00 and gave the stock a "buy" rating in a report on Thursday. Royal Bank of Canada reissued an "outperform" rating and issued a $92.00 price target on shares of HealthEquity in a research report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft boosted their price target on HealthEquity from $102.00 to $103.00 and gave the stock a "buy" rating in a research report on Wednesday, September 4th. JMP Securities reissued a "market outperform" rating and issued a $105.00 price target on shares of HealthEquity in a research report on Wednesday, September 4th. Finally, Bank of America boosted their price target on HealthEquity from $100.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, HealthEquity presently has an average rating of "Moderate Buy" and a consensus target price of $107.23.

HealthEquity Trading Up 3.4 %

NASDAQ:HQY traded up $3.28 during mid-day trading on Friday, reaching $98.98. 1,561,890 shares of the company's stock traded hands, compared to its average volume of 620,201. HealthEquity has a 12-month low of $62.10 and a 12-month high of $101.17. The company has a 50 day moving average price of $84.56 and a 200-day moving average price of $80.94. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.10 and a quick ratio of 4.10. The firm has a market capitalization of $8.64 billion, a price-to-earnings ratio of 82.64, a PEG ratio of 1.48 and a beta of 0.52.

HealthEquity (NASDAQ:HQY - Get Free Report) last posted its earnings results on Tuesday, September 3rd. The company reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.16. HealthEquity had a return on equity of 9.01% and a net margin of 9.61%. The firm had revenue of $299.93 million for the quarter, compared to the consensus estimate of $284.48 million. On average, sell-side analysts predict that HealthEquity will post 2.27 earnings per share for the current year.

Insider Activity

In other news, Director Robert W. Selander sold 8,250 shares of the company's stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $82.98, for a total value of $684,585.00. Following the completion of the sale, the director now directly owns 54,719 shares in the company, valued at $4,540,582.62. This represents a 13.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Frank Corvino sold 1,039 shares of the company's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $96.10, for a total value of $99,847.90. Following the completion of the sale, the director now owns 3,784 shares of the company's stock, valued at $363,642.40. This trade represents a 21.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,536 shares of company stock valued at $884,517 in the last ninety days. 2.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On HealthEquity

Hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC purchased a new stake in shares of HealthEquity in the 2nd quarter worth $35,000. Paladin Wealth LLC purchased a new stake in shares of HealthEquity in the 3rd quarter worth $39,000. GAMMA Investing LLC increased its stake in HealthEquity by 114.8% in the 2nd quarter. GAMMA Investing LLC now owns 595 shares of the company's stock worth $51,000 after buying an additional 318 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in HealthEquity in the 2nd quarter worth $73,000. Finally, Quarry LP increased its stake in HealthEquity by 418.8% in the 3rd quarter. Quarry LP now owns 1,349 shares of the company's stock worth $110,000 after buying an additional 1,089 shares in the last quarter. 99.55% of the stock is currently 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.