HealthEquity (NASDAQ:HQY) Sets New 52-Week High – Here’s What Happened

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Barrington Research boosted their price target on HealthEquity from $105.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Bank of America increased their target price on shares of HealthEquity from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. JMP Securities lifted their price target 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. Mizuho started coverage on shares of HealthEquity in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $126.00 price objective for the company. Finally, BTIG Research raised their target price on shares of HealthEquity from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.71.

HealthEquity Stock Up 3.2 %

The firm has a market cap of $9.33 billion, a P/E ratio of 98.82, a price-to-earnings-growth ratio of 1.86 and a beta of 0.54. The firm’s 50-day moving average price is $99.74 and its 200 day moving average price is $87.87. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.51.

HealthEquity (NASDAQ:HQY) last announced its quarterly earnings results on Monday, December 9th. The company reported $0.59 EPS for the quarter, missing the consensus estimate 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 last year, the business posted $0.40 earnings per share. As a group, research analysts expect that HealthEquity, Inc. will post 2.32 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Robert W. Selander sold 8,250 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $101.56, for a total transaction of $837,870.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Stuart B. Parker sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was 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 owns 19,061 shares in the company, valued at $1,843,579.92. The trade was a 56.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,289 shares of company stock worth $3,355,718. 2.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On HealthEquity

Several hedge funds have recently modified their holdings of HQY. UMB Bank n.a. raised its holdings in HealthEquity by 65.6% during the 4th quarter. UMB Bank n.a. now owns 414 shares of the company’s stock worth $40,000 after buying an additional 164 shares during the period. Paladin Wealth LLC acquired a new position in shares of HealthEquity in the third quarter worth about $39,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of HealthEquity in the second quarter worth approximately $73,000. GAMMA Investing LLC raised its holdings in shares of HealthEquity by 57.8% during the third quarter. GAMMA Investing LLC now owns 939 shares of the company’s stock valued at $77,000 after acquiring an additional 344 shares during the period. Finally, Quarry LP lifted its position in shares of HealthEquity by 418.8% in the 3rd quarter. Quarry LP now owns 1,349 shares of the company’s stock valued at $110,000 after acquiring an additional 1,089 shares in 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.