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

HealthEquity, Inc. (NASDAQ:HQY) hit a new 52-week high on Monday . The company traded as high as $100.88 and last traded at $99.14, with a volume of 30915 shares. The stock had previously closed at $98.82.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on HQY. Bank of America lowered their target price on HealthEquity from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Barrington Research reiterated an “outperform” rating and set a $105.00 target price on shares of HealthEquity in a research note on Friday, September 20th. Royal Bank of Canada reiterated an “outperform” rating and set a $92.00 target price on shares of HealthEquity in a research note on Wednesday, September 4th. JMP Securities reissued a “market outperform” rating and set a $105.00 price target on shares of HealthEquity in a research report on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on HealthEquity from $102.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, HealthEquity currently has a consensus rating of “Buy” and a consensus target price of $103.83.

HealthEquity Stock Performance

The stock has a fifty day simple moving average of $84.00 and a two-hundred day simple moving average of $80.74. The stock has a market cap of $8.75 billion, a price-to-earnings ratio of 83.50, a P/E/G ratio of 1.57 and a beta of 0.52. The company has a debt-to-equity ratio of 0.51, a quick ratio of 4.10 and a current ratio of 4.10.

HealthEquity (NASDAQ:HQY) last issued its 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 the consensus estimate of $284.48 million. HealthEquity had a return on equity of 9.01% and a net margin of 9.61%. Analysts expect that HealthEquity, Inc. will post 2.27 EPS for the current fiscal year.

Insider Activity

In other news, Director Frank Corvino sold 1,247 shares of the 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 completion of the transaction, the director now directly owns 4,823 shares in the company, valued at approximately $387,093.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Frank Corvino sold 1,247 shares of the 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 completion of the transaction, the director now directly owns 4,823 shares in the company, valued at approximately $387,093.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert W. Selander sold 8,250 shares of the stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $82.98, for a total value of $684,585.00. Following the completion of the transaction, the director now owns 54,719 shares of the company’s stock, valued at $4,540,582.62. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,536 shares of company stock worth $884,517. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of HealthEquity by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 8,768,632 shares of the company’s stock worth $715,783,000 after acquiring an additional 149,133 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its position in shares of HealthEquity by 1.8% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 616,860 shares of the company’s stock worth $53,173,000 after acquiring an additional 11,150 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of HealthEquity by 29.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 64,214 shares of the company’s stock worth $5,535,000 after acquiring an additional 14,573 shares in the last quarter. Diversify Wealth Management LLC bought a new position in shares of HealthEquity in the 2nd quarter worth about $8,182,000. Finally, Sequoia Financial Advisors LLC bought a new position in shares of HealthEquity in the 2nd quarter worth about $1,122,000. 99.55% of the stock is owned by institutional investors.

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.