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

HealthEquity, Inc. (NASDAQ:HQY)’s stock price reached a new 52-week high during trading on Wednesday . The company 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.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on HQY shares. Royal Bank of Canada upped their price target on HealthEquity from $100.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. BTIG Research upped their target price on shares of HealthEquity from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. The Goldman Sachs Group initiated coverage on shares of HealthEquity in a research report on Friday, November 15th. They issued a “neutral” rating and a $108.00 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 report on Wednesday, November 13th. Finally, Barrington Research raised their price target on HealthEquity from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, HealthEquity presently has a consensus rating of “Moderate Buy” and an average target price of $110.71.

HealthEquity Stock Performance

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 stock’s 50-day moving average price is $99.04 and its 200 day moving average price is $86.92. The firm 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.

HealthEquity (NASDAQ:HQY) last issued its earnings results 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 quarter in the prior year, the firm earned $0.40 earnings per share. As a group, equities analysts predict that HealthEquity, Inc. will post 2.32 EPS for the current year.

Insider Buying and Selling at HealthEquity

In other news, Director Robert W. Selander sold 8,250 shares of the 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 completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stuart B. Parker sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $96.72, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 34,289 shares of company stock valued at $3,355,718 in the last three months. 2.20% of the stock is currently owned by company insiders.

Institutional Trading of HealthEquity

A number of hedge funds have recently made changes to their positions in the company. Paladin Wealth LLC acquired a new position in HealthEquity in the third quarter valued at $39,000. UMB Bank n.a. boosted its holdings in HealthEquity by 65.6% in the fourth quarter. UMB Bank n.a. now owns 414 shares of the company’s stock worth $40,000 after acquiring an additional 164 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of HealthEquity during the second quarter worth approximately $73,000. GAMMA Investing LLC raised its holdings in HealthEquity by 57.8% during the third quarter. GAMMA Investing LLC now owns 939 shares of the company’s stock worth $77,000 after buying an additional 344 shares during the last quarter. Finally, Quarry LP grew its holdings in HealthEquity by 418.8% during the third quarter. Quarry LP now owns 1,349 shares of the company’s stock worth $110,000 after buying an additional 1,089 shares in the last quarter. 99.55% of the stock is owned by institutional investors and hedge funds.

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.