HealthEquity (NASDAQ:HQY) Reaches New 1-Year High – Still a Buy?

HealthEquity, Inc. (NASDAQ:HQY) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $88.47 and last traded at $87.15, with a volume of 86966 shares trading hands. The stock had previously closed at $85.87.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HQY. Wells Fargo & Company boosted their price target on HealthEquity from $107.00 to $110.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. Deutsche Bank Aktiengesellschaft upped their target price on HealthEquity from $102.00 to $103.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. JMP Securities restated a “market outperform” rating and set a $105.00 target price on shares of HealthEquity in a report on Wednesday, September 4th. Bank of America lowered their target price on HealthEquity from $105.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Finally, Barrington Research restated an “outperform” rating and set a $105.00 target price on shares of HealthEquity in a report on Friday, September 20th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $103.83.

HealthEquity Trading Up 2.5 %

The stock’s fifty day simple moving average is $78.09 and its 200-day simple moving average is $79.37. The firm has a market cap of $7.66 billion, a PE ratio of 95.34, a PEG ratio of 1.31 and a beta of 0.52. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.10 and a quick ratio of 4.10.

HealthEquity (NASDAQ:HQY) last posted 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 during the quarter, compared to analysts’ expectations of $284.48 million. HealthEquity had a net margin of 9.61% and a return on equity of 9.01%. On average, sell-side analysts forecast that HealthEquity, Inc. will post 2.27 earnings per share for the current year.

Insider Activity

In other HealthEquity news, Vice Chairman Stephen Neeleman sold 35,000 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $79.86, for a total transaction of $2,795,100.00. Following the sale, the insider now directly owns 89,769 shares of the company’s stock, valued at approximately $7,168,952.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Frank Corvino sold 1,247 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $80.26, for a total transaction of $100,084.22. Following the sale, the director now directly owns 4,823 shares of the company’s stock, valued at $387,093.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Vice Chairman Stephen Neeleman sold 35,000 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $79.86, for a total transaction of $2,795,100.00. Following the sale, the insider now directly owns 89,769 shares in the company, valued at approximately $7,168,952.34. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,497 shares of company stock valued at $3,579,769 in the last ninety days. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On HealthEquity

Hedge funds have recently modified their holdings of the company. Rise Advisors LLC purchased a new position in HealthEquity in the 1st quarter valued at about $28,000. International Assets Investment Management LLC purchased a new position in HealthEquity in the 2nd quarter valued at about $35,000. Paladin Wealth LLC purchased a new position in HealthEquity in the 3rd quarter valued at about $39,000. Fidelis Capital Partners LLC purchased a new position in HealthEquity in the 1st quarter valued at about $42,000. Finally, GAMMA Investing LLC lifted its stake in HealthEquity by 114.8% in the 2nd quarter. GAMMA Investing LLC now owns 595 shares of the company’s stock valued at $51,000 after buying an additional 318 shares in the last quarter. 99.55% of the stock is 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.