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

HealthEquity, Inc. (NASDAQ:HQY) shares hit a new 52-week high during trading on Monday . The stock traded as high as $112.53 and last traded at $110.38, with a volume of 79028 shares trading hands. The stock had previously closed at $110.42.

Analyst Ratings Changes

Several research analysts have commented on HQY shares. Barrington Research boosted their price objective on shares of HealthEquity from $105.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. BTIG Research boosted their price objective on shares of HealthEquity from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Royal Bank of Canada boosted their price objective on shares of HealthEquity from $100.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. JMP Securities boosted their price objective on shares of HealthEquity from $105.00 to $107.00 and gave the company a “market outperform” rating in a research report on Tuesday, December 10th. Finally, Bank of America boosted their price objective on shares of HealthEquity from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $110.71.

HealthEquity Stock Down 0.2 %

The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.51. The firm has a market cap of $9.55 billion, a P/E ratio of 101.26, a PEG ratio of 1.94 and a beta of 0.55. The stock’s 50-day simple moving average is $100.09 and its 200 day simple moving average is $88.52.

HealthEquity (NASDAQ:HQY) last issued its quarterly earnings results on Monday, December 9th. The company reported $0.59 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 posted $0.40 EPS. As a group, research analysts forecast that HealthEquity, Inc. will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling at HealthEquity

In related news, Director Robert W. Selander sold 8,250 shares of the company’s 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 sale, the director now owns 66,469 shares in the company, valued at $6,750,591.64. This represents a 11.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frank Corvino sold 1,039 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was 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 owns 3,784 shares in the company, valued at $363,642.40. This represents a 21.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,289 shares of company stock valued at $3,355,718. 2.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On HealthEquity

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB increased its stake in HealthEquity by 8.2% in the 4th quarter. Handelsbanken Fonder AB now owns 22,316 shares of the company’s stock valued at $2,141,000 after buying an additional 1,700 shares during the last quarter. Convergence Investment Partners LLC purchased a new stake in shares of HealthEquity during the 4th quarter worth approximately $217,000. New York State Common Retirement Fund increased its stake in shares of HealthEquity by 142.6% during the 4th quarter. New York State Common Retirement Fund now owns 102,200 shares of the company’s stock worth $9,806,000 after purchasing an additional 60,077 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of HealthEquity during the 4th quarter worth approximately $238,000. Finally, CIBC Asset Management Inc increased its stake in shares of HealthEquity by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 2,640 shares of the company’s stock worth $253,000 after purchasing an additional 139 shares during the last quarter. Hedge funds and other institutional investors 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.