HealthEquity (NASDAQ:HQY) Sets New 1-Year High - Here's Why

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on HQY shares. JMP Securities increased their price objective on shares of HealthEquity from $105.00 to $107.00 and gave the stock a "market outperform" rating in a report on Tuesday, December 10th. Bank of America raised their price target on shares of HealthEquity from $100.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Royal Bank of Canada raised their price target on shares of HealthEquity from $100.00 to $105.00 and gave the company an "outperform" rating in a report on Tuesday, December 10th. Barrington Research raised their price target on shares of HealthEquity from $105.00 to $120.00 and gave the company an "outperform" rating in a report on Monday, December 2nd. Finally, Mizuho assumed coverage on shares of HealthEquity in a report on Wednesday, December 4th. They issued an "outperform" rating and a $126.00 price target on the stock. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, HealthEquity currently has an average rating of "Moderate Buy" and an average price target of $110.71.

HealthEquity Price Performance

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 firm has a market cap of $9.07 billion, a price-to-earnings ratio of 96.06, a P/E/G ratio of 1.84 and a beta of 0.54. The business's 50-day moving average price is $99.44 and its two-hundred day moving average price is $87.18.

HealthEquity (NASDAQ:HQY - Get Free Report) last released its quarterly earnings results on Monday, December 9th. The company reported $0.59 earnings per share 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 quarter last year, the company posted $0.40 EPS. On average, research analysts forecast that HealthEquity, Inc. will post 2.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Stuart B. Parker sold 25,000 shares of the business's stock in a transaction on 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 transaction, the director now owns 19,061 shares of the company's stock, valued at approximately $1,843,579.92. The trade was a 56.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert W. Selander sold 8,250 shares of the business's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $101.56, for a total transaction of $837,870.00. Following the transaction, the director now directly owns 66,469 shares of the company's stock, valued at approximately $6,750,591.64. This trade represents a 11.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,289 shares of company stock valued at $3,355,718 over the last 90 days. 2.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On HealthEquity

A number of hedge funds and other institutional investors have recently modified their holdings of HQY. Raymond James Trust N.A. raised its position in HealthEquity by 4.8% in the third quarter. Raymond James Trust N.A. now owns 2,905 shares of the company's stock worth $238,000 after acquiring an additional 132 shares in the last quarter. UMB Bank n.a. increased its stake in HealthEquity by 65.6% in the 4th quarter. UMB Bank n.a. now owns 414 shares of the company's stock worth $40,000 after purchasing an additional 164 shares in the last quarter. Truist Financial Corp grew its stake in HealthEquity by 7.0% during the 2nd quarter. Truist Financial Corp now owns 2,864 shares of the company's stock valued at $247,000 after acquiring an additional 188 shares in the last quarter. Elk River Wealth Management LLC increased its holdings in shares of HealthEquity by 0.3% in the 3rd quarter. Elk River Wealth Management LLC now owns 66,181 shares of the company's stock valued at $5,417,000 after purchasing an additional 217 shares during the period. Finally, Nicolet Advisory Services LLC increased its holdings in shares of HealthEquity by 5.8% in the 3rd quarter. Nicolet Advisory Services LLC now owns 4,218 shares of the company's stock valued at $330,000 after purchasing an additional 233 shares during the period. 99.55% of the stock is currently 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.