HealthEquity (NASDAQ:HQY) Reaches New 12-Month High – Time to Buy?

HealthEquity, Inc. (NASDAQ:HQY) reached a new 52-week high during trading on Wednesday . The company traded as high as $107.70 and last traded at $104.67, with a volume of 554 shares traded. The stock had previously closed at $104.74.

Analyst Ratings Changes

HQY has been the topic of a number of recent analyst reports. The Goldman Sachs Group began coverage on HealthEquity in a research note on Friday, November 15th. They issued a “neutral” rating and a $108.00 price objective on the stock. Mizuho assumed coverage on shares of HealthEquity in a report on Wednesday, December 4th. They set an “outperform” rating and a $126.00 target price for the company. Royal Bank of Canada raised their price target on HealthEquity from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. JMP Securities upped their price objective on HealthEquity from $105.00 to $107.00 and gave the company a “market outperform” rating in a report on Tuesday, December 10th. Finally, Bank of America boosted their target price on HealthEquity from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, HealthEquity presently has a consensus rating of “Moderate Buy” and an average price target of $110.71.

HealthEquity Price Performance

The company has a market capitalization of $9.07 billion, a P/E ratio of 96.06, a P/E/G ratio of 1.86 and a beta of 0.54. The company has a 50 day moving average price of $99.44 and a 200 day moving average price of $87.18. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.51.

HealthEquity (NASDAQ:HQY) last issued its quarterly earnings results on Monday, December 9th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.12). HealthEquity had a return on equity of 9.70% and a net margin of 8.41%. During the same period last year, the company posted $0.40 EPS. On average, equities analysts predict that HealthEquity, Inc. will post 2.32 EPS for the current fiscal year.

Insider Activity

In related news, Director Robert W. Selander sold 8,250 shares of the stock in a transaction on Monday, December 9th. The stock was 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 approximately $6,750,591.64. This trade represents a 11.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Frank Corvino sold 1,039 shares of HealthEquity stock in a transaction that occurred 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 sale, the director now owns 3,784 shares of the company’s stock, valued at approximately $363,642.40. The trade was a 21.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,289 shares of company stock worth $3,355,718 in the last three months. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Wasatch Advisors LP increased its holdings in HealthEquity by 6.6% during the 3rd quarter. Wasatch Advisors LP now owns 7,758,890 shares of the company’s stock valued at $635,065,000 after purchasing an additional 483,269 shares during the period. Mackenzie Financial Corp lifted its position in HealthEquity by 16.0% in the 2nd quarter. Mackenzie Financial Corp now owns 2,364,521 shares of the company’s stock valued at $203,822,000 after acquiring an additional 325,906 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in shares of HealthEquity by 36.7% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 843,423 shares of the company’s stock valued at $69,034,000 after buying an additional 226,563 shares during the last quarter. Barclays PLC grew its stake in shares of HealthEquity by 209.3% in the third quarter. Barclays PLC now owns 166,492 shares of the company’s stock worth $13,628,000 after acquiring an additional 112,667 shares during the period. Finally, Thrivent Financial for Lutherans increased its position in HealthEquity by 33.3% during the third quarter. Thrivent Financial for Lutherans now owns 293,624 shares of the company’s stock valued at $24,033,000 after acquiring an additional 73,404 shares during the last quarter. 99.55% of the stock is owned by hedge funds and other 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.