HealthEquity (NASDAQ:HQY) Sets New 1-Year High – Should You Buy?

HealthEquity, Inc. (NASDAQ:HQY)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $107.70 and last traded at $104.67, with a volume of 554 shares traded. The stock had previously closed at $104.74.

Analysts Set New Price Targets

Several research firms recently commented on HQY. Royal Bank of Canada boosted their target price on HealthEquity from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. BTIG Research lifted their target price on shares of HealthEquity from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Bank of America boosted their price target on shares of HealthEquity from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Barrington Research lifted their price objective on shares of HealthEquity from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Finally, Mizuho assumed coverage on HealthEquity in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $126.00 target price for the company. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, HealthEquity currently has a consensus rating of “Moderate Buy” and an average price target of $110.71.

HealthEquity Price Performance

The stock has a market cap of $9.06 billion, a P/E ratio of 95.84, a price-to-earnings-growth ratio of 1.80 and a beta of 0.54. The business’s 50 day moving average price is $99.04 and its two-hundred day moving average price is $86.92. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.51.

HealthEquity (NASDAQ:HQY) last announced its earnings results on Monday, December 9th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.12). HealthEquity had a return on equity of 9.70% and a net margin of 8.41%. During the same period in the prior year, the business posted $0.40 earnings per share. As a group, sell-side analysts expect that HealthEquity, Inc. will post 2.32 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Stuart B. Parker sold 25,000 shares of HealthEquity stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $96.72, for a total value of $2,418,000.00. Following the completion of the transaction, the director now owns 19,061 shares of the company’s stock, valued at $1,843,579.92. The trade was a 56.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank Corvino sold 1,039 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $96.10, for a total transaction of $99,847.90. Following the completion of the transaction, the director now owns 3,784 shares in the company, valued at approximately $363,642.40. The trade was a 21.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,289 shares of company stock worth $3,355,718. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. UMB Bank n.a. raised its holdings in HealthEquity by 65.6% in the 4th quarter. UMB Bank n.a. now owns 414 shares of the company’s stock worth $40,000 after purchasing an additional 164 shares during the period. Paladin Wealth LLC purchased a new stake in shares of HealthEquity during the third quarter worth about $39,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in HealthEquity during the 2nd quarter valued at approximately $73,000. GAMMA Investing LLC lifted its holdings in HealthEquity by 57.8% in the 3rd quarter. GAMMA Investing LLC now owns 939 shares of the company’s stock worth $77,000 after purchasing an additional 344 shares in the last quarter. Finally, Quarry LP boosted its stake in HealthEquity by 418.8% in the 3rd quarter. Quarry LP now owns 1,349 shares of the company’s stock worth $110,000 after purchasing an additional 1,089 shares during the period. Institutional investors own 99.55% of the company’s stock.

About HealthEquity

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.