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

HealthEquity, Inc. (NASDAQ:HQY) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $107.89 and last traded at $107.55, with a volume of 352393 shares traded. The stock had previously closed at $104.34.

Analyst Ratings Changes

HQY has been the topic of a number of research analyst reports. JMP Securities boosted their target price on shares of HealthEquity from $105.00 to $107.00 and gave the company a “market outperform” rating in a research note on Tuesday, December 10th. Barrington Research upped their price objective on HealthEquity from $105.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. The Goldman Sachs Group assumed coverage on HealthEquity in a research report on Friday, November 15th. They issued a “neutral” rating and a $108.00 target price for the company. Mizuho initiated coverage on HealthEquity in a research report on Wednesday, December 4th. They set an “outperform” rating and a $126.00 price target on the stock. Finally, BTIG Research boosted their price objective on HealthEquity from $110.00 to $130.00 and gave the company a “buy” rating in a research note 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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 business has a 50 day moving average price of $99.97 and a two-hundred day moving average price of $88.17. The stock has a market cap of $9.58 billion, a PE ratio of 101.44, a price-to-earnings-growth ratio of 1.86 and a beta of 0.54.

HealthEquity (NASDAQ:HQY) last announced its quarterly 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 return on equity of 9.70% and a net margin of 8.41%. During the same quarter in the prior year, the business posted $0.40 earnings per share. As a group, equities research analysts forecast that HealthEquity, Inc. will post 2.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robert W. Selander sold 8,250 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was 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 in the company, valued at $6,750,591.64. This trade represents a 11.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stuart B. Parker sold 25,000 shares of the company’s stock in a transaction on 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 completion of the sale, the director now directly owns 19,061 shares in the company, valued at approximately $1,843,579.92. The trade was a 56.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,289 shares of company stock worth $3,355,718. 2.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On HealthEquity

Several large investors have recently made changes to their positions in the business. Paladin Wealth LLC purchased a new position in HealthEquity during the third quarter valued at $39,000. UMB Bank n.a. raised its position in shares of HealthEquity by 65.6% in the 4th quarter. UMB Bank n.a. now owns 414 shares of the company’s stock worth $40,000 after purchasing an additional 164 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in HealthEquity in the 2nd quarter worth about $73,000. GAMMA Investing LLC boosted its stake in HealthEquity by 57.8% in the 3rd quarter. GAMMA Investing LLC now owns 939 shares of the company’s stock worth $77,000 after purchasing an additional 344 shares in the last quarter. Finally, Quarry LP grew its position in HealthEquity by 418.8% during the 3rd quarter. Quarry LP now owns 1,349 shares of the company’s stock valued at $110,000 after purchasing an additional 1,089 shares during the last quarter. 99.55% of the stock is currently owned by hedge funds and other institutional investors.

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.