HealthEquity (NASDAQ:HQY) Hits New 12-Month High – Here’s What Happened

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft lifted 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. Barrington Research reaffirmed an “outperform” rating and set a $105.00 price target on shares of HealthEquity in a research report on Friday, September 20th. The Goldman Sachs Group started coverage on HealthEquity in a research note on Friday, November 15th. They set a “neutral” rating and a $108.00 price target for the company. JMP Securities reiterated a “market outperform” rating and issued a $105.00 price objective on shares of HealthEquity in a research report on Wednesday, September 4th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $92.00 price target on shares of HealthEquity in a 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’s stock. According to data from MarketBeat, HealthEquity has an average rating of “Moderate Buy” and a consensus price target of $107.23.

HealthEquity Stock Down 0.5 %

The firm has a market cap of $9.06 billion, a PE ratio of 86.88, a P/E/G ratio of 1.63 and a beta of 0.52. The company has a debt-to-equity ratio of 0.51, a quick ratio of 4.10 and a current ratio of 4.10. The firm’s 50-day moving average price is $87.74 and its two-hundred day moving average price is $81.95.

HealthEquity (NASDAQ:HQY) last issued its quarterly earnings results 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. The business had revenue of $299.93 million for the quarter, compared to analyst estimates of $284.48 million. HealthEquity had a net margin of 9.61% and a return on equity of 9.01%. As a group, equities research analysts expect that HealthEquity, Inc. will post 2.27 EPS for the current fiscal year.

Insider Buying and Selling at HealthEquity

In related news, Director Frank Corvino sold 1,039 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 3,784 shares in the company, valued at approximately $363,642.40. This represents a 21.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert W. Selander sold 8,250 shares of the company’s stock in a transaction 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 owns 54,719 shares of the company’s stock, valued at approximately $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 have sold 10,536 shares of company stock valued at $884,517. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On HealthEquity

A number of institutional investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP lifted its holdings in HealthEquity by 6.6% in the third quarter. Wasatch Advisors LP now owns 7,758,890 shares of the company’s stock worth $635,065,000 after acquiring an additional 483,269 shares during the last quarter. State Street Corp lifted its holdings in shares of HealthEquity by 0.8% in the 3rd quarter. State Street Corp now owns 3,131,900 shares of the company’s stock worth $256,346,000 after purchasing an additional 23,613 shares during the last quarter. Clearbridge Investments LLC boosted its position in HealthEquity by 1.9% during the 2nd quarter. Clearbridge Investments LLC now owns 2,377,204 shares of the company’s stock valued at $204,915,000 after purchasing an additional 43,491 shares during the period. Mackenzie Financial Corp grew its stake in 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 during the last quarter. Finally, Geode Capital Management LLC lifted its stake in HealthEquity by 0.7% in the third quarter. Geode Capital Management LLC now owns 2,078,977 shares of the company’s stock valued at $170,197,000 after buying an additional 15,145 shares during the last quarter. Institutional investors and hedge funds 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.