HealthEquity (NASDAQ:HQY) Reaches New 52-Week High – Should You Buy?

HealthEquity, Inc. (NASDAQ:HQY) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $101.42 and last traded at $101.42, with a volume of 184353 shares traded. The stock had previously closed at $98.98.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. BTIG Research raised their target price on HealthEquity from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and issued a $92.00 price target on shares of HealthEquity in a research note on Wednesday, September 4th. The Goldman Sachs Group initiated coverage on shares of HealthEquity in a research report on Friday. They set a “neutral” rating and a $108.00 target price for the company. Barrington Research reiterated an “outperform” rating and issued a $105.00 target price on shares of HealthEquity in a research report on Friday, September 20th. Finally, JMP Securities restated a “market outperform” rating and set a $105.00 price objective on shares of HealthEquity in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.23.

HealthEquity Trading Up 3.5 %

The business’s fifty day moving average is $85.02 and its 200 day moving average is $81.09. The stock has a market cap of $8.94 billion, a PE ratio of 82.83, a P/E/G ratio of 1.55 and a beta of 0.52. The company has a quick ratio of 4.10, a current ratio of 4.10 and a debt-to-equity ratio of 0.51.

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

Insider Buying and Selling

In other news, Director Frank Corvino sold 1,039 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert W. Selander sold 8,250 shares of the firm’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 sale, the director now directly owns 54,719 shares of the company’s stock, valued at $4,540,582.62. This represents a 13.10 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 10,536 shares of company stock valued at $884,517. 2.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wasatch Advisors LP increased its stake in shares of HealthEquity by 6.6% in the third quarter. Wasatch Advisors LP now owns 7,758,890 shares of the company’s stock valued at $635,065,000 after buying an additional 483,269 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of HealthEquity by 16.0% during the 2nd quarter. Mackenzie Financial Corp now owns 2,364,521 shares of the company’s stock worth $203,822,000 after buying an additional 325,906 shares in the last quarter. Generate Investment Management Ltd acquired a new position in shares of HealthEquity during the second quarter worth approximately $24,184,000. Vaughan Nelson Investment Management L.P. raised its position in shares of HealthEquity by 36.7% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 843,423 shares of the company’s stock worth $69,034,000 after purchasing an additional 226,563 shares during the period. Finally, Thrivent Financial for Lutherans raised its position in shares of HealthEquity by 924.2% during the second quarter. Thrivent Financial for Lutherans now owns 220,220 shares of the company’s stock worth $18,983,000 after purchasing an additional 198,718 shares during the period. Institutional investors own 99.55% of the company’s stock.

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.