HealthEquity, Inc. (NASDAQ:HQY – Get Rating)’s share price fell 5.7% during trading on Friday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $72.00 to $69.00. The company traded as low as $54.14 and last traded at $54.40. 109,180 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 815,563 shares. The stock had previously closed at $57.68.
Several other analysts have also issued reports on the company. Guggenheim upped their target price on HealthEquity from $89.00 to $94.00 and gave the stock a “buy” rating in a report on Wednesday, December 7th. StockNews.com started coverage on HealthEquity in a report on Thursday, March 16th. They set a “hold” rating on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $75.00 target price on shares of HealthEquity in a report on Wednesday. Raymond James boosted their price target on HealthEquity from $75.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, December 12th. Finally, Robert W. Baird boosted their price target on HealthEquity to $75.00 in a research report on Monday, December 12th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $81.25.
Hedge Funds Weigh In On HealthEquity
Several institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC boosted its stake in shares of HealthEquity by 150.9% in the third quarter. Barclays PLC now owns 19,853 shares of the company’s stock valued at $1,332,000 after buying an additional 11,941 shares during the period. Federated Hermes Inc. boosted its stake in shares of HealthEquity by 6.0% in the third quarter. Federated Hermes Inc. now owns 15,927 shares of the company’s stock valued at $1,070,000 after buying an additional 907 shares during the period. AlphaCrest Capital Management LLC boosted its stake in shares of HealthEquity by 26.7% in the second quarter. AlphaCrest Capital Management LLC now owns 4,390 shares of the company’s stock valued at $270,000 after buying an additional 926 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of HealthEquity by 12.7% in the third quarter. Envestnet Asset Management Inc. now owns 78,506 shares of the company’s stock valued at $5,273,000 after buying an additional 8,822 shares during the period. Finally, Ensign Peak Advisors Inc boosted its stake in shares of HealthEquity by 0.3% in the second quarter. Ensign Peak Advisors Inc now owns 360,498 shares of the company’s stock valued at $22,131,000 after buying an additional 908 shares during the period. Institutional investors and hedge funds own 99.54% of the company’s stock.
HealthEquity Trading Down 5.7 %
The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $4.60 billion, a P/E ratio of -186.06, a PEG ratio of 2.57 and a beta of 0.80. The firm has a 50 day moving average of $61.43 and a 200-day moving average of $64.93.
HealthEquity, Inc provides range of solutions for managing health care accounts. The firm’s offers its solutions for employers, health plans, brokers, consultants and financial advisors. Its services include HAS, FSA, HRA, DCRA, 401(k), Commuter, COBRA and HIA. It also offers products like healthcare saving and spending platform, health savings accounts, investment advisory services, reimbursement arrangements, and healthcare incentives.
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