HealthEquity (NASDAQ:HQY) Reaches New 12-Month High – Still a Buy?

HealthEquity, Inc. (NASDAQ:HQY) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $88.47 and last traded at $87.15, with a volume of 86966 shares. The stock had previously closed at $85.87.

Analyst Ratings Changes

Several research analysts have recently weighed in on HQY shares. Royal Bank of Canada reissued an “outperform” rating and issued a $92.00 target price on shares of HealthEquity in a research report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of HealthEquity from $102.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. JMP Securities reaffirmed a “market outperform” rating and issued a $105.00 target price on shares of HealthEquity in a research report on Wednesday, September 4th. Barrington Research reissued an “outperform” rating and set a $105.00 price target on shares of HealthEquity in a research report on Friday, September 20th. Finally, Bank of America reduced their price objective on HealthEquity from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $103.83.

HealthEquity Trading Down 0.4 %

The company has a 50 day moving average of $78.42 and a 200 day moving average of $79.43. The company has a debt-to-equity ratio of 0.51, a quick ratio of 4.10 and a current ratio of 4.10. The firm has a market cap of $7.63 billion, a P/E ratio of 95.30, a PEG ratio of 1.31 and a beta of 0.52.

HealthEquity (NASDAQ:HQY) last released its earnings results on Tuesday, September 3rd. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.16. HealthEquity had a return on equity of 9.01% and a net margin of 9.61%. The business had revenue of $299.93 million for the quarter, compared to the consensus estimate of $284.48 million. Analysts predict that HealthEquity, Inc. will post 2.27 EPS for the current fiscal year.

Insider Activity

In related news, Director Frank Corvino sold 1,247 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $80.26, for a total value of $100,084.22. Following the transaction, the director now owns 4,823 shares in the company, valued at approximately $387,093.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Frank Corvino sold 1,247 shares of HealthEquity stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $80.26, for a total transaction of $100,084.22. Following the completion of the sale, the director now directly owns 4,823 shares of the company’s stock, valued at approximately $387,093.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert W. Selander sold 8,250 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $82.98, for a total value of $684,585.00. Following the completion of the sale, the director now owns 54,719 shares of the company’s stock, valued at $4,540,582.62. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,497 shares of company stock valued at $3,579,769 over the last ninety days. 2.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On HealthEquity

Institutional investors and hedge funds have recently modified their holdings of the business. Rise Advisors LLC bought a new stake in HealthEquity in the 1st quarter valued at about $28,000. International Assets Investment Management LLC bought a new stake in shares of HealthEquity in the second quarter valued at approximately $35,000. Paladin Wealth LLC acquired a new stake in HealthEquity during the third quarter worth approximately $39,000. Fidelis Capital Partners LLC bought a new position in HealthEquity during the 1st quarter worth $42,000. Finally, GAMMA Investing LLC increased its stake 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 acquiring an additional 318 shares during the period. 99.55% of the stock is currently owned by institutional investors and hedge funds.

HealthEquity Company Profile

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.