HealthEquity (NASDAQ:HQY) Reaches New 1-Year High – Here’s Why

HealthEquity, Inc. (NASDAQ:HQY)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $107.89 and last traded at $107.55, with a volume of 352393 shares. The stock had previously closed at $104.34.

Analyst Ratings Changes

Several research firms have recently weighed in on HQY. Barrington Research boosted their price target on HealthEquity from $105.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. The Goldman Sachs Group started coverage on HealthEquity in a research report on Friday, November 15th. They issued a “neutral” rating and a $108.00 target price for the company. Mizuho began coverage on shares of HealthEquity in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $126.00 price target for the company. Royal Bank of Canada increased 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. Finally, BTIG Research lifted their target price on shares of HealthEquity from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $110.71.

HealthEquity Trading Up 1.6 %

The company has a 50-day moving average of $99.97 and a 200 day moving average of $88.17. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.20 and a quick ratio of 3.20. The company has a market cap of $9.58 billion, a PE ratio of 101.44, a price-to-earnings-growth ratio of 1.86 and a beta of 0.54.

HealthEquity (NASDAQ:HQY) last announced its 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 return on equity of 9.70% and a net margin of 8.41%. During the same period in the previous year, the firm posted $0.40 earnings per share. Analysts predict that HealthEquity, Inc. will post 2.32 earnings per share for the current year.

Insider Transactions at HealthEquity

In related news, Director Frank Corvino sold 1,039 shares of HealthEquity stock in a transaction dated Wednesday, November 6th. The shares were 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 trade represents a 21.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Stuart B. Parker sold 25,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $96.72, for a total transaction of $2,418,000.00. Following the completion of the sale, the director now directly owns 19,061 shares of the company’s stock, valued at approximately $1,843,579.92. This trade represents a 56.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,289 shares of company stock worth $3,355,718. 2.20% of the stock is currently owned by insiders.

Institutional Trading of HealthEquity

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Montreal Can grew its holdings in HealthEquity by 10.5% during the 2nd quarter. Bank of Montreal Can now owns 11,308 shares of the company’s stock worth $976,000 after acquiring an additional 1,077 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of HealthEquity by 0.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 104,494 shares of the company’s stock worth $9,007,000 after purchasing an additional 879 shares during the period. Algert Global LLC bought a new position in shares of HealthEquity during the second quarter valued at approximately $748,000. Creative Planning increased its holdings in HealthEquity by 25.0% during the second quarter. Creative Planning now owns 19,926 shares of the company’s stock valued at $1,718,000 after buying an additional 3,983 shares during the period. Finally, Truist Financial Corp raised its stake in HealthEquity by 7.0% in the second quarter. Truist Financial Corp now owns 2,864 shares of the company’s stock worth $247,000 after buying an additional 188 shares in the last quarter. Institutional investors own 99.55% of the company’s stock.

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.