HealthEquity (NASDAQ:HQY) Sets New 1-Year High – Should You Buy?

HealthEquity, Inc. (NASDAQ:HQY)’s share price hit 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 trading hands. The stock had previously closed at $98.98.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Royal Bank of Canada restated an “outperform” rating and issued a $92.00 target price on shares of HealthEquity in a research note on Wednesday, September 4th. Barrington Research reiterated an “outperform” rating and issued a $105.00 price objective on shares of HealthEquity in a research report on Friday, September 20th. 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. Deutsche Bank Aktiengesellschaft boosted their price objective on HealthEquity from $102.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Finally, The Goldman Sachs Group initiated coverage on HealthEquity in a research report on Friday. They issued a “neutral” rating and a $108.00 price objective for the company. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $107.23.

HealthEquity Stock Performance

The firm has a fifty day simple moving average of $85.02 and a 200-day simple moving average of $81.09. The company has a market cap of $8.94 billion, a PE ratio of 82.83, a price-to-earnings-growth 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 announced its quarterly earnings data on Tuesday, September 3rd. The company reported $0.66 earnings per share for the quarter, beating 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 company had revenue of $299.93 million for the quarter, compared to analyst estimates of $284.48 million. On average, research analysts forecast that HealthEquity, Inc. will post 2.27 EPS for the current fiscal year.

Insider Activity

In related news, Director Frank Corvino sold 1,039 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $96.10, for a total transaction of $99,847.90. Following the completion of the sale, the director now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert W. Selander sold 8,250 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $82.98, for a total transaction of $684,585.00. Following the completion of the transaction, the director now owns 54,719 shares in the company, valued at $4,540,582.62. This represents a 13.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,536 shares of company stock valued at $884,517 in the last ninety days. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On HealthEquity

A number of large investors have recently bought and sold shares of HQY. International Assets Investment Management LLC acquired a new stake in shares of HealthEquity in the second quarter valued at approximately $35,000. Paladin Wealth LLC acquired a new position in shares of HealthEquity during the third quarter valued at approximately $39,000. GAMMA Investing LLC increased its stake in shares of HealthEquity by 114.8% during the second quarter. GAMMA Investing LLC now owns 595 shares of the company’s stock valued at $51,000 after acquiring an additional 318 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of HealthEquity during the second quarter valued at approximately $73,000. Finally, Quarry LP increased its stake in shares of HealthEquity by 418.8% during the third quarter. Quarry LP now owns 1,349 shares of the company’s stock valued at $110,000 after acquiring an additional 1,089 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.