HealthEquity (NASDAQ:HQY) Reaches New 52-Week High – Still a Buy?

HealthEquity, Inc. (NASDAQ:HQY)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $112.53 and last traded at $110.38, with a volume of 79028 shares trading hands. The stock had previously closed at $110.42.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on HQY shares. Mizuho started coverage on shares of HealthEquity in a report on Wednesday, December 4th. They issued an “outperform” rating and a $126.00 price target on the stock. Bank of America boosted their target price on HealthEquity from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Royal Bank of Canada increased their price target on shares of HealthEquity from $100.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. JMP Securities boosted their price objective on shares of HealthEquity from $105.00 to $107.00 and gave the stock a “market outperform” rating in a report on Tuesday, December 10th. Finally, BTIG Research increased their target price on shares of HealthEquity from $110.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $110.71.

HealthEquity Price Performance

The firm has a market cap of $9.70 billion, a PE ratio of 102.72, a price-to-earnings-growth ratio of 1.94 and a beta of 0.55. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.20 and a quick ratio of 3.20. The firm has a 50-day simple moving average of $100.39 and a 200 day simple moving average of $89.02.

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

Insiders Place Their Bets

In other HealthEquity news, Director Stuart B. Parker sold 25,000 shares of the 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 transaction, the director now owns 19,061 shares of the company’s stock, valued at approximately $1,843,579.92. This represents a 56.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert W. Selander sold 8,250 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $101.56, for a total value of $837,870.00. Following the sale, the director now owns 66,469 shares of the company’s stock, valued at approximately $6,750,591.64. This represents a 11.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On HealthEquity

A number of institutional investors have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System boosted its position in shares of HealthEquity by 0.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 24,200 shares of the company’s stock worth $2,322,000 after acquiring an additional 100 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in HealthEquity by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 17,776 shares of the company’s stock worth $1,706,000 after purchasing an additional 100 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in shares of HealthEquity by 4.8% during the 3rd quarter. Raymond James Trust N.A. now owns 2,905 shares of the company’s stock valued at $238,000 after purchasing an additional 132 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of HealthEquity by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 2,640 shares of the company’s stock valued at $253,000 after purchasing an additional 139 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its holdings in shares of HealthEquity by 5.0% in the fourth quarter. Sanctuary Advisors LLC now owns 3,335 shares of the company’s stock worth $320,000 after purchasing an additional 159 shares during the last quarter. 99.55% of the stock is owned by hedge funds and other institutional investors.

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.