A Director at Healthequity (NASDAQ: HQY) is Buying Shares

By Carrie Williams

Today, a Director at Healthequity (HQYResearch Report), Robert Selander, bought shares of HQY for $610K.

This recent transaction increases Robert Selander’s holding in the company by 44.11% to a total of $2.34 million. This is Selander’s first transaction since reporting a Sell transaction on MA back in October 2009

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Based on Healthequity’s latest earnings report for the quarter ending April 30, the company posted quarterly revenue of $87.05 million and quarterly net profit of $41.82 million. In comparison, last year the company earned revenue of $69.9 million and had a net profit of $22.58 million. HQY’s market cap is $4.49B and the company has a P/E ratio of 48.90. Currently, Healthequity has an average volume of 1.14M.

Based on 8 analyst ratings, the analyst consensus is Strong Buy with an average price target of $86.29, reflecting a 22.6% upside. One of the top 25 analysts, according to TipRanks.com, recently recommended Buy HQY with a $95 price target. Six different firms, including Barrington and Cantor Fitzgerald, currently also have a Buy rating on the stock.

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HealthEquity, Inc. provides range of solutions for managing health care accounts. The firm’s offers its solutions for employers, health planbs, brokers, consultants and financial advisors.