HealthEquity (NASDAQ:HQY) Trading Down 6.7%

Posted by Defense World Staff on Mar 12th, 2023

Shares of HealthEquity, Inc. (NASDAQ:HQY – Get Rating) fell 6.7% during trading on Friday . The company traded as low as $62.05 and last traded at $62.05. 373,574 shares were traded during mid-day trading, a decline of 47% from the average session volume of 702,639 shares. The stock had previously closed at $66.49.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HQY. StockNews.com upgraded shares of HealthEquity from a “sell” rating to a “hold” rating in a research note on Wednesday, February 1st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of HealthEquity from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Tuesday, January 24th. Raymond James lifted their price target on shares of HealthEquity from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, December 12th. Royal Bank of Canada lifted their price target on shares of HealthEquity from $70.00 to $75.00 in a research note on Monday, December 5th. Finally, Robert W. Baird lifted their price target on shares of HealthEquity to $75.00 in a research note on Monday, December 12th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $80.62.

HealthEquity Price Performance

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 cap of $5.22 billion, a PE ratio of -88.11, a P/E/G ratio of 2.93 and a beta of 0.80. The firm’s fifty day simple moving average is $61.92 and its two-hundred day simple moving average is $65.39.

Insider Transactions at HealthEquity

In other news, Director Gayle Furgurson Wellborn sold 5,237 shares of the business’s stock in a transaction on Wednesday, December 14th. The shares were sold at an average price of $62.00, for a total value of $324,694.00. Following the transaction, the director now owns 12,023 shares of the company’s stock, valued at $745,426. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On HealthEquity

Hedge funds have recently modified their holdings of the stock. Private Trust Co. NA purchased a new stake in HealthEquity during the second quarter valued at $28,000. Quadrant Capital Group LLC raised its stake in HealthEquity by 62.7% during the fourth quarter. Quadrant Capital Group LLC now owns 540 shares of the company’s stock valued at $33,000 after purchasing an additional 208 shares in the last quarter. Wipfli Financial Advisors LLC purchased a new stake in HealthEquity during the third quarter valued at $69,000. Benjamin F. Edwards & Company Inc. raised its stake in HealthEquity by 31.3% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 1,049 shares of the company’s stock valued at $70,000 after purchasing an additional 250 shares in the last quarter. Finally, Arcadia Investment Management Corp MI purchased a new stake in HealthEquity during the fourth quarter valued at $65,000. Hedge funds and other institutional investors own 99.54% of the company’s stock.

HealthEquity Company Profile

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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.