Mizuho Initiates Coverage on HealthEquity (NASDAQ:HQY)

Research analysts at Mizuho assumed coverage on shares of HealthEquity (NASDAQ:HQY) in a note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $126.00 price target on the stock. Mizuho’s price target points to a potential upside of 24.94% from the stock’s current price.

HQY has been the subject of a number of other reports. The Goldman Sachs Group assumed coverage on HealthEquity in a research note on Friday, November 15th. They issued a “neutral” rating and a $108.00 target price for the company. Bank of America upped their price objective on HealthEquity from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. JMP Securities reiterated a “market outperform” rating and issued a $105.00 target price on shares of HealthEquity in a research note on Wednesday, September 4th. Royal Bank of Canada reissued an “outperform” rating and set a $92.00 price target on shares of HealthEquity in a report on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of HealthEquity from $102.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $109.64.

HealthEquity Stock Performance

Shares of HQY opened at $100.85 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.10 and a quick ratio of 4.10. HealthEquity has a 12-month low of $62.10 and a 12-month high of $105.82. The business’s fifty day moving average price is $92.02 and its 200 day moving average price is $83.44. The stock has a market capitalization of $8.81 billion, a PE ratio of 84.04, a price-to-earnings-growth ratio of 1.59 and a beta of 0.55.

HealthEquity (NASDAQ:HQY) last posted its quarterly earnings results on Tuesday, September 3rd. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.50 by $0.16. HealthEquity had a net margin of 9.61% and a return on equity of 9.01%. The business had revenue of $299.93 million during the quarter, compared to analyst estimates of $284.48 million. Equities research analysts forecast that HealthEquity will post 2.27 EPS for the current year.

Insiders Place Their Bets

In other HealthEquity news, Director Frank Corvino sold 1,039 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were 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 directly owns 3,784 shares of the company’s stock, valued at approximately $363,642.40. This represents a 21.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert W. Selander sold 8,250 shares of HealthEquity stock in a transaction that occurred on Wednesday, October 9th. The stock was 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 directly owns 54,719 shares in the company, valued at $4,540,582.62. This represents a 13.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,536 shares of company stock worth $884,517 over the last ninety days. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HQY. International Assets Investment Management LLC acquired a new position in shares of HealthEquity in the 2nd quarter worth $35,000. Paladin Wealth LLC purchased a new position in HealthEquity in the 3rd quarter worth about $39,000. GAMMA Investing LLC raised its holdings in HealthEquity by 114.8% during the 2nd quarter. GAMMA Investing LLC now owns 595 shares of the company’s stock worth $51,000 after buying an additional 318 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in HealthEquity during the 2nd quarter worth about $73,000. Finally, Quarry LP lifted its stake in HealthEquity by 418.8% during the third quarter. Quarry LP now owns 1,349 shares of the company’s stock valued at $110,000 after buying an additional 1,089 shares in the last quarter. Institutional investors own 99.55% of the company’s stock.

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.