HealthEquity (NASDAQ:HQY) Hits New 12-Month High – Should You Buy?

HealthEquity, Inc. (NASDAQ:HQY)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $89.30 and last traded at $89.07, with a volume of 195192 shares traded. The stock had previously closed at $86.95.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of HealthEquity from $102.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Barrington Research reiterated an “outperform” rating and set a $105.00 price objective on shares of HealthEquity in a report on Friday, September 20th. JMP Securities restated a “market outperform” rating and issued a $105.00 target price on shares of HealthEquity in a research note on Wednesday, September 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $92.00 target price on shares of HealthEquity in a research report on Wednesday, September 4th. Finally, Bank of America reduced their price target on HealthEquity from $105.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $103.83.

HealthEquity Stock Performance

The company has a debt-to-equity ratio of 0.51, a current ratio of 4.10 and a quick ratio of 4.10. The firm has a market cap of $8.49 billion, a P/E ratio of 81.63, a PEG ratio of 1.36 and a beta of 0.52. The stock’s 50 day moving average is $82.36 and its two-hundred day moving average is $80.19.

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

Insiders Place Their Bets

In other HealthEquity news, Director Robert W. Selander sold 8,250 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $82.98, for a total transaction of $684,585.00. Following the sale, the director now owns 54,719 shares of the company’s stock, valued at $4,540,582.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other HealthEquity news, 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 transaction of $684,585.00. Following the transaction, the director now owns 54,719 shares of the company’s stock, valued at approximately $4,540,582.62. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank Corvino sold 1,247 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $80.26, for a total value of $100,084.22. Following the sale, the director now owns 4,823 shares of the company’s stock, valued at approximately $387,093.98. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On HealthEquity

A number of institutional investors have recently made changes to their positions in HQY. Swiss National Bank boosted its stake in HealthEquity by 0.4% during the 3rd quarter. Swiss National Bank now owns 169,900 shares of the company’s stock worth $13,906,000 after acquiring an additional 600 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of HealthEquity by 33.3% during the third quarter. Thrivent Financial for Lutherans now owns 293,624 shares of the company’s stock worth $24,033,000 after purchasing an additional 73,404 shares in the last quarter. RiverPark Advisors LLC acquired a new position in shares of HealthEquity in the 3rd quarter valued at $230,000. Mutual of America Capital Management LLC increased its position in shares of HealthEquity by 0.7% in the 3rd quarter. Mutual of America Capital Management LLC now owns 97,718 shares of the company’s stock valued at $7,998,000 after buying an additional 648 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its stake in HealthEquity by 36.7% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 843,423 shares of the company’s stock worth $69,034,000 after buying an additional 226,563 shares during the period. 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.