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

HealthEquity, Inc. (NASDAQ:HQY)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $105.82 and last traded at $104.41, with a volume of 109861 shares traded. The stock had previously closed at $104.25.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HQY. Bank of America upped their target price on shares of HealthEquity from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. The Goldman Sachs Group began coverage on HealthEquity in a research note on Friday, November 15th. They issued a “neutral” rating and a $108.00 target price for the company. Barrington Research reaffirmed an “outperform” rating and issued a $105.00 price target on shares of HealthEquity in a research note on Friday, September 20th. Royal Bank of Canada reissued an “outperform” rating and set a $92.00 price objective on shares of HealthEquity in a research report on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of HealthEquity from $102.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.23.

HealthEquity Trading Down 0.5 %

The company has a current ratio of 4.10, a quick ratio of 4.10 and a debt-to-equity ratio of 0.51. The stock has a 50 day moving average of $87.74 and a 200-day moving average of $81.95. The company has a market capitalization of $9.06 billion, a P/E ratio of 86.88, a P/E/G ratio of 1.63 and a beta of 0.52.

HealthEquity (NASDAQ:HQY) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported $0.66 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $299.93 million during the quarter, compared to the consensus estimate of $284.48 million. On average, research analysts predict that HealthEquity, Inc. will post 2.27 EPS for the current year.

Insider Transactions at HealthEquity

In related news, Director Frank Corvino sold 1,039 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $96.10, for a total value of $99,847.90. Following the completion of the sale, the director now owns 3,784 shares of the company’s stock, valued at approximately $363,642.40. This represents a 21.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert W. Selander sold 8,250 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $82.98, for a total value of $684,585.00. Following the sale, the director now directly owns 54,719 shares of the company’s stock, valued at $4,540,582.62. The trade was a 13.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,536 shares of company stock valued at $884,517. 2.20% of the stock is currently owned by insiders.

Institutional Trading of HealthEquity

Hedge funds and other institutional investors have recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in shares of HealthEquity in the 3rd quarter valued at about $150,000. Sanctuary Advisors LLC bought a new stake in HealthEquity in the third quarter worth $260,000. Neo Ivy Capital Management acquired a new stake in HealthEquity during the 3rd quarter valued at approximately $472,000. Geode Capital Management LLC increased its holdings in HealthEquity by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,078,977 shares of the company’s stock valued at $170,197,000 after purchasing an additional 15,145 shares during the last quarter. Finally, M&T Bank Corp lifted its position in HealthEquity by 0.7% in the third quarter. M&T Bank Corp now owns 49,447 shares of the company’s stock valued at $4,047,000 after purchasing an additional 321 shares during the period. 99.55% of the stock is currently 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.