HealthEquity (NASDAQ:HQY) Sets New 52-Week High - Here's Why

HealthEquity, Inc. (NASDAQ:HQY - Get Free Report)'s share price reached a new 52-week high on Wednesday . The stock traded as high as $113.90 and last traded at $112.97, with a volume of 164646 shares changing hands. The stock had previously closed at $112.50.

Wall Street Analyst Weigh In

Several analysts have weighed in on HQY shares. Barrington Research lifted their price objective on HealthEquity from $105.00 to $120.00 and gave the company an "outperform" rating in a research report on Monday, December 2nd. The Goldman Sachs Group began coverage on HealthEquity in a research report on Friday, November 15th. They set a "neutral" rating and a $108.00 price objective on the stock. JMP Securities boosted their price target on HealthEquity from $105.00 to $107.00 and gave the stock a "market outperform" rating in a research report on Tuesday, December 10th. Royal Bank of Canada boosted 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. Finally, Mizuho began coverage on HealthEquity in a research report on Wednesday, December 4th. They issued an "outperform" rating and a $126.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $110.71.

HealthEquity Price Performance

The firm has a market capitalization of $9.77 billion, a P/E ratio of 103.39, a PEG ratio of 1.61 and a beta of 0.55. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.20 and a current ratio of 3.20. The firm has a 50-day moving average of $102.14 and a 200-day moving average of $90.85.

HealthEquity (NASDAQ:HQY - Get Free Report) last announced its 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 net margin of 8.41% and a return on equity of 9.70%. During the same quarter in the previous year, the business earned $0.40 EPS. As a group, analysts predict that HealthEquity, Inc. will post 2.32 EPS for the current year.

Insider Buying and Selling at HealthEquity

In other news, Director Robert W. Selander sold 8,250 shares of the company's 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 completion of the sale, the director now directly owns 66,469 shares in the company, valued at $6,750,591.64. This represents a 11.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Stuart B. Parker sold 25,000 shares of the company's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $96.72, for a total value of $2,418,000.00. Following the completion of the sale, the director now owns 19,061 shares of the company's stock, valued at $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 ninety days, insiders sold 39,000 shares of company stock worth $3,895,788. Insiders own 2.20% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Arcadia Investment Management Corp MI bought a new position in HealthEquity in the 4th quarter worth $26,000. Transce3nd LLC bought a new position in HealthEquity in the 4th quarter worth $29,000. Smartleaf Asset Management LLC boosted its holdings in HealthEquity by 34.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 384 shares of the company's stock worth $37,000 after buying an additional 98 shares during the period. UMB Bank n.a. boosted its holdings in shares of HealthEquity by 65.6% during the 4th quarter. UMB Bank n.a. now owns 414 shares of the company's stock valued at $40,000 after purchasing an additional 164 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of HealthEquity by 1,934.8% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 468 shares of the company's stock valued at $45,000 after purchasing an additional 445 shares during 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.