HealthEquity (NASDAQ:HQY) Hits New 1-Year High - Should You Buy?

HealthEquity, Inc. (NASDAQ:HQY - Get Free Report) shares reached a new 52-week high on Tuesday . The company traded as high as $89.30 and last traded at $89.07, with a volume of 195192 shares. The stock had previously closed at $86.95.

Analysts Set New Price Targets

Several brokerages recently issued reports on HQY. JMP Securities restated a "market outperform" rating and issued a $105.00 price objective on shares of HealthEquity in a report on Wednesday, September 4th. Bank of America reduced their target price on shares of HealthEquity from $105.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft upped their target price on shares of HealthEquity from $102.00 to $103.00 and gave the stock a "buy" rating in a research note on Wednesday, September 4th. Royal Bank of Canada restated an "outperform" rating and issued a $92.00 price objective on shares of HealthEquity in a report on Wednesday, September 4th. Finally, Barrington Research reissued an "outperform" rating and issued a $105.00 target price on shares of HealthEquity in a report on Friday, September 20th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, HealthEquity currently has a consensus rating of "Buy" and a consensus price target of $103.83.

HealthEquity Stock Performance

The company has a quick ratio of 4.10, a current ratio of 4.10 and a debt-to-equity ratio of 0.51. The company has a market cap of $7.79 billion, a price-to-earnings ratio of 72.46, a PEG ratio of 1.35 and a beta of 0.52. The stock has a 50 day simple moving average of $81.66 and a 200 day simple moving average of $80.01.

HealthEquity (NASDAQ:HQY - Get Free Report) last released its quarterly earnings results on Tuesday, September 3rd. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 9.61% and a return on equity of 9.01%. As a group, analysts predict that HealthEquity, Inc. will post 2.27 EPS for the current year.

Insiders Place Their Bets

In other HealthEquity news, Director Frank Corvino sold 1,247 shares of the firm's stock in a transaction dated Tuesday, October 1st. The shares were 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 $387,093.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Robert W. Selander sold 8,250 shares of the company's 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 transaction, the director now directly owns 54,719 shares of the company's stock, valued at approximately $4,540,582.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frank Corvino sold 1,247 shares of HealthEquity stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $80.26, for a total transaction of $100,084.22. Following the completion of the sale, the director now directly owns 4,823 shares of the company's stock, valued at approximately $387,093.98. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On HealthEquity

Institutional investors have recently bought and sold shares of the business. Truist Financial Corp increased its position 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 purchasing an additional 188 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in HealthEquity by 3.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 5,219 shares of the company's stock valued at $426,000 after buying an additional 197 shares during the period. Nisa Investment Advisors LLC boosted its stake in HealthEquity by 7.5% in the second quarter. Nisa Investment Advisors LLC now owns 2,854 shares of the company's stock valued at $246,000 after acquiring an additional 198 shares during the last quarter. Elk River Wealth Management LLC grew its holdings in HealthEquity by 0.3% during the 3rd quarter. Elk River Wealth Management LLC now owns 66,181 shares of the company's stock worth $5,417,000 after acquiring an additional 217 shares during the period. Finally, CWM LLC raised its position in shares of HealthEquity by 6.9% during the 2nd quarter. CWM LLC now owns 3,958 shares of the company's stock valued at $341,000 after acquiring an additional 255 shares during the last quarter. Institutional investors and hedge funds 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.

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