Healthequity Inc (HQY) Target Price Boosted to $53.00 at Chardan Capital

Healthequity Inc (HQY) Target Price Boosted to $53.00 at Chardan Capital

Healthequity Inc (NASDAQ:HQY) had its target price lifted by analysts at Chardan Capital to $53.00 in a research note issued to investors on Wednesday. The brokerage presently has a “positive” rating on the stock. Chardan Capital’s target price indicates a potential upside of 21.48% from the stock’s previous close.

Several other equities research analysts also recently commented on the company. CIBC assumed coverage on Healthequity in a report on Tuesday, March 14th. They set an “outperform” rating on the stock. FIX assumed coverage on Healthequity in a report on Tuesday, March 14th. They set an “outperform” rating on the stock. Wells Fargo & Co assumed coverage on Healthequity in a report on Tuesday, March 14th. They set an “outperform” rating on the stock. Oppenheimer Holdings Inc. assumed coverage on Healthequity in a report on Monday, March 13th. They set an “outperform” rating and a $58.00 target price on the stock. Finally, Zacks Investment Research upgraded Healthequity from a “sell” rating to a “hold” rating in a report on Saturday, March 4th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $42.36.

Shares of Healthequity (NASDAQ:HQY) opened at 43.63 on Wednesday. The firm has a market capitalization of $2.59 billion, a P/E ratio of 103.88 and a beta of 1.94. The stock has a 50 day moving average price of $44.05 and a 200 day moving average price of $40.60. Healthequity has a 12-month low of $21.90 and a 12-month high of $49.25.

In other news, Director Frank Medici sold 1,000,000 shares of Healthequity stock in a transaction that occurred on Thursday, January 19th. The stock was sold at an average price of $46.45, for a total value of $46,450,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank Corvino sold 35,000 shares of Healthequity stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $40.33, for a total value of $1,411,550.00. Following the completion of the transaction, the director now owns 7,500 shares of the company’s stock, valued at approximately $302,475. The disclosure for this sale can be found here. Insiders have sold a total of 1,152,502 shares of company stock worth $53,255,286 over the last 90 days. 29.00% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Macquarie Group Ltd. purchased a new position in shares of Healthequity during the second quarter valued at approximately $2,309,000. Capstone Asset Management Co. raised its position in shares of Healthequity by 18.5% in the third quarter. Capstone Asset Management Co. now owns 12,680 shares of the company’s stock valued at $480,000 after buying an additional 1,980 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co purchased a new position in shares of Healthequity during the third quarter valued at approximately $454,000. Lebenthal Lisanti Capital Growth LLC purchased a new position in shares of Healthequity during the third quarter valued at approximately $666,000. Finally, Louisiana State Employees Retirement System raised its position in shares of Healthequity by 21.0% in the third quarter. Louisiana State Employees Retirement System now owns 19,000 shares of the company’s stock valued at $719,000 after buying an additional 3,300 shares during the last quarter. Institutional investors own 89.22% of the company’s stock.

About Healthequity

HealthEquity, Inc provides a range of solutions for managing healthcare accounts (Health Savings Accounts (HSAs), Health Reimbursement Arrangements (HRAs) and Flexible Spending Accounts (FSAs)) for health plans, insurance companies and third-party administrators. The Company is engaged in technology-enabled services platforms that allow consumers to make healthcare saving and spending decisions.

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